BREAKING: NGX equity market hits record N164.97 trillion as ASI reaches all-time high
AI Executive Briefing
Gemini Flash AI~45s readThe Nigerian Exchange (NGX) achieved a historic milestone on October 29, 2026, as market capitalization hit N164.97 trillion. This bullish performance was fueled by strong industrial sector gains that successfully countered downward pressure in the banking sector.
Context & Background
- ✦The market recovery follows a slight pullback observed on October 28, 2026, where the market cap stood at N164.19 trillion.
- ✦The NGX Industrial Index served as the primary engine for growth, while the NGX Banking Index and Corporate Governance Index faced targeted profit-taking.
Key Figures & Named Entities
Dangote Cement PLC:The largest listed enterprise with a market cap of N23.96 trillion, which rose 5.82% during the session.First Holdco PLC:Experienced a 10.00% decline to N125.55, contributing to the 2.10% drop in the NGX Banking Index.
Outlook & Next Steps
Market participants will continue to monitor the performance of industrial heavyweights and the potential for continued profit-taking in the financial services sector.
Key Takeaways
AI Summary- The Nigerian Exchange (NGX) reached a record market capitalization of N164.97 trillion on October 29, 2026.
- The All-Share Index (ASI) climbed to an all-time high of 254,083.02 points, driven by a 0.47% daily gain.
- Industrial sector performance, led by a 5.82% surge in Dangote Cement, offset profit-taking in the banking sector.
Key Facts:October 27, 2026: The market capitalization reached a previous record of N164.91 trillion on October 27, 2026.October 29, 2026: Equity investors added N779.31 billion in net market value during the trading session on October 29, 2026.
Editorial Excerpt
Trading activity on the Nigerian Exchange Limited (NGX) closed on a record-breaking note for the session ending October 29, 2026, as the total market capitalisation of listed equities surged to an all-time high of N164.97 trillion.
Frequently Asked Questions About This Story
What was the primary driver of the market's record performance?
The record performance was primarily driven by intense buying demand for industrial heavyweights, specifically Dangote Cement PLC, which surged 5.82%.
Which sector experienced the most significant decline during the session?
The financial sector, specifically the banking sector, faced profit-taking, causing the NGX Banking Index to decline by 2.10%.
