NGX Market Wrap 28 Sept 2026 | Plus234Feed

Nigeria's equities market closed marginally higher on Monday, extending a cautious uptrend as selective buying in mid-cap and transport stocks offset weakness in established blue-chips. The ASI's modest 0.11% gain masks a tale of two markets: sharp rallies in specific names versus steady profit-taking elsewhere.

The gainers list painted a picture of retail-driven momentum. Transport and specialty stocks led the charge: UPL soared 9.89% to ₦5.00, while ABCTRANS jumped 9.80% to ₦5.60 and ETERNA surged 9.62% to ₦42.75. CMFC's 9.82% rise to ₦3.58 attracted substantial volume at 22.99 million shares, suggesting institutional interest in the counter. These moves reflect rotational appetite toward undervalued positions rather than broad-based strength.

Conversely, the losers list revealed cracks in defensive positioning. CORNERST declined 9.80% to ₦4.60 and FTGINSURE fell 9.50% to ₦1.81, signalling caution in insurance and specialty sectors. Transport-adjacent TRANSEXPR dropped 8.47% to ₦2.70, a curious contrast to ABCTRANS's rally and suggesting sector-specific rather than thematic weakness.

Fidelity Bank dominated volume with 521.7 million shares traded, yet the banking sector failed to provide directional cues—typical of consolidation phases. The ₦163.8 trillion market cap remained essentially flat, reflecting balanced supply and demand.

Retail investors should monitor whether tomorrow's session sustains gainers' momentum or signals profit-taking.