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Stock market

The Nigerian Exchange, explained

Index moves, market size and the forces behind them, from interest rates to earnings season.

252,882.78NGX All-Share Index close, 28 Oct 2026▲ 1.65% on the day
₦164.19trnEquity market capitalisation, 28 Oct 2026Nigerian Exchange
~50%ASI gain in the first half of 2026As reported in June 2026
15.80%364-day T-bill stop rate, 28 Oct 2026The risk-free hurdle equities must beat
Themes

What is driving the market

Rates and equities

Falling T-bill yields push investors toward stocks. Track the spread between the 364-day bill and dividend yields.

Banking recapitalisation

Capital raises by banks have reshaped the index. Watch listings, rights issues and how new shares are absorbed.

Earnings season

Quarterly results drive sector rotation. We summarise results against expectations for the most traded names.

Sources

Market data is for information only and is not investment advice.

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