Nigerian Stock Market Surges to Record High with Dangote Cement

On October 29, 2026, the Nigerian stock market achieved a record high as the NGX All-Share Index (ASI) increased by 1,200.24 points, reaching 254,083.02 points. Data from the Nigerian Exchange Limited (NGX) indicated that market capitalisation rose from N164.19 trillion on October 28 to N164.97 trillion, marking an increase of N779.31 billion.

This gain surpassed the previous capitalisation record of N164.91 trillion set on October 27, 2026. The rally was primarily fueled by significant buying interest in industrial stocks, notably Dangote Cement, which rose by 5.82% to close at N1,420 per share.

The NGX Industrial Index also advanced by 3.41% to 12,199.47 points, while the banking index fell by 2.10% due to losses in First Holdco and other financial stocks. During the trading session, a total of 654.14 million shares were exchanged, reflecting a 61.88% increase from the 404.08 million shares traded the previous day, although the number of deals decreased by 8.16% to 35,789.