NGX Rebounds Past N159 Trillion in Market Value as Dangote Refinery IPO Opens; Insurers and NGX Group Lead Gainers

After closing the prior week down 1.6% at 243,052.74 points, the NGX All-Share Index turned higher in the week to 18 September 2026, rising 0.10% on Monday 14 September to 243,299.24 points on the first day of the Dangote Refinery IPO, then 0.41% on Tuesday as market capitalisation reached N158.4 trillion (Nairametrics). Momentum continued into Thursday 17 September, when Nairametrics reported listed equities added about N1.18 trillion to close at N159.9 trillion with turnover of roughly 1.1 billion shares. Insurance counters featured repeatedly among daily top gainers even though the NGX Insurance Index slipped 0.53% on the Monday, while the broader 2026 advance has been supported by FTSE Russell's reclassification of Nigeria from "Unclassified" to "Frontier Market" status reported in late August. This digest is educational and factual only, and contains no investment advice.

Top movers this week

• UPDCREIT (UPDC Real Estate Investment Trust) +48.4%
• NGXGROUP (Nigerian Exchange Group) +31.31% — Nigerian Exchange Group entered the week on a strong run, having led the previous week's gainers' chart with a 13.85% week-on-week advance to N148.00 even as the overall index fell, per Nairametrics' weekly review for the week ended 11 September 2026. Its continued climb this week coincided with heavy primary-market activity as the Dangote Refinery IPO opened on the exchange on 14 September. (source)
• SOVRENINS (Sovereign Trust Insurance Plc) +30.95% — Sovereign Trust Insurance appeared among the NGX's top daily gainers on several sessions during the week, rising 9.50% to N1.96 on Tuesday 15 September and a further 9.77% on Thursday 17 September, according to Nairametrics' daily market reports. (source)
• MBENEFIT (Mutual Benefit Assurance Plc) +24.57% — NGX's market report page shows Mutual Benefits Assurance quoted around N3.08; beyond the sector-wide moves in insurance counters reported during the week, no company-specific news item was located in the sources reviewed. (source)
• CONHALLPLC (Consolidated Hallmark Insurance Plc) +23.66%

• JOHNHOLT (Johnholt Plc) -27% — NGX's official market report page lists Johnholt trading around N7.30 with a 0.80% session decline; no company disclosure explaining the wider weekly fall was found in the sources reviewed. (source)
• ELLAHLAKES (Ellah Lakes) -19.02% — Ellah Lakes had been one of the prior week's best performers, climbing 13.33% week-on-week in the week ended 11 September 2026, according to Nairametrics; its pullback this week follows that run-up. No company-specific announcement for the current week was found in the sources reviewed. (source)
• TRANSPOWER (Transcorp Power Plc) -18.94%
• LIVINGTRUST (Livingtrust Mortgage Bank Plc) -17.46% — NGX's official market report page shows Livingtrust Mortgage Bank quoted around N2.84 (-0.31% in the session); no corporate announcement accounting for the week's decline was found in the sources reviewed. (source)
• PZ (P.z. Industries Plc) -11.33%

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Educational weekly recap for the NGX — not investment advice. Figures and news are drawn from public sources linked above.