NGX ASI rises 2.87% in Sept 2026 to 251,211.67pts as Oil & Gas leads market rally

Nigerian equities closed September 2026 with gains, as the NGX All-Share Index climbed 2.87% to 251,211.67 points from 244,199.39 points at end-August, while market capitalisation expanded by N5.37 trillion (3.40%) to N163.10 trillion. The rally was uneven: Oil & Gas surged 18.86% to lead sector gains, Banking rose 3.36%, and Commodities advanced 10.76%, but Insurance slipped 0.18% and Consumer Goods declined 0.58%. Top performers included Critical Minerals Financing Corp (+55.96% to N4.32), Seplat Energy (+29.86% to N16,000.10), and Nigerian Exchange Group (+35.68% to N181.00), while worst performers were insurance stocks like International Energy Insurance (-20.21% to N2.25). The CBN's September 22 rate cut from 26.50% to 23% fueled the equity rotation, though September 30 saw mild profit-taking as ASI eased from an intraweek high of 252,635.11 points. This marks the second positive monthly close in Q3 2026 after July's recovery and August's slight decline. With energy and banking driving gains amid persistent weakness in insurance and consumer goods, October will test whether the rotation into equities has further momentum or if sector imbalances will drag the broader index. Given Oil & Gas's strength and Insurance's ongoing struggles, will you rebalance your portfolio toward energy names, maintain diversification, or wait for clearer sector rotation signals before allocating new funds?

SOURCE: https://nairametrics.com/2026/10/02/best-performing-nigerian-stocks-for-the-month-of-september-2026/