Investors Trade 662m Shares As Stock Market Gains N315bn

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  • The Nigerian Exchange recorded 662.35 million shares across 63,167 deals on Wednesday, September 16
  • Sterling Financial Holdings topped banking activity with 142.04 million shares, while AIICO Insurance led the insurance sector
  • The NGX All-Share Index climbed 0.20%, and market capitalisation rose to N158.7 trillion

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market closed on a positive note on Wednesday, September 16, as buying interest in banking, insurance and financial services stocks pushed market capitalisation up to N158.7 trillion from N158.4 trillion the previous day, a single-session gain of roughly N315.9 billion.

The NGX All-Share Index (ASI) moved from 244,304.51 points on Tuesday to close at 244,791.79 points, reflecting a 0.20% advance.

Sterling Financial Holdings leads trading activity as investors exchange 142.04 million shares on the NGX. Photo: AFPSource: Getty Images

Investors traded 662.35 million shares across 63,167 deals during the session.

Punch reports that while trading volume jumped 27.22% compared to the 520.65 million shares exchanged on Tuesday, the number of deals fell 12.24% from the 71,977 recorded the previous day.

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Sterling, AIICO lead market activity

Financial services stocks drove the bulk of the day's activity, with the sector accounting for 422 million shares traded in 20,251 deals.

Sterling Financial Holdings was the standout performer among banking counters, recording 142.04 million shares.

Fidelity Bank followed with 43.33 million shares, GTCO posted 40.55 million shares, Zenith Bank attracted 34.87 million shares, and Access Holdings recorded 26.56 million shares.

In the insurance segment, AIICO Insurance led with 73.63 million shares. Veritas Kapital Assurance traded 10.61 million shares, International Energy Insurance recorded 7.75 million shares, and Regency Alliance Insurance exchanged 5.77 million shares.

Gainers and losers

Sovereign Trust Insurance topped the gainers list, rising 9.69% to N2.15.

Champion Breweries gained 9.50% to close at N10.95, Livestock Feeds advanced 9.42% to N7.55, Learn Africa added 9.09% to reach N8.40, and Mbenefit Assurance climbed 8.93% to N3.05.

Prestige Assurance also featured among notable gainers with a 9.56% rise.

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Access Holdings records 26.56 million shares traded during Wednesday's trading session. Photo: BloombergSource: Facebook

On the losing side, IMG shed 9.93% to close at N27.65, John Holt fell 9.88% to N7.30, and LivingTrust Mortgage Bank dropped 9.84% to N2.84.

Fidson Healthcare declined 9.19% to N72.65, Royal Exchange lost 9.00% to N0.91, and Ellah Lakes dropped 8.79%.

Dangote refinery IPO raises N1.5trn in 6 hours

Earlier, Legit.ng reported that the initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE drew roughly N1.5 trillion in subscriptions within six hours of opening on the Nigerian Exchange in Lagos on Monday, September 14, 2026, in what is being described as the largest IPO in Africa.

The offer is priced at N525 per share, with a minimum subscription of 10 shares, meaning retail investors can enter for as little as N5,250.

The surge in demand caused serious problems for two popular fintech investment platforms.