Investors at the Nigerian Exchange Limited recorded a significant windfall of N1.811 trillion in September 2025, buoyed by the Central Bank of Nigeria’s ongoing monetary policy adjustments, which have continued to lift investor confidence.
The rally was largely underpinned by the CBN’s recent decision to trim the Monetary Policy Rate from 27.5% to 27%.
Analysts say the move further strengthened investors’ appetite for equities, prompting a shift from fixed-income assets into stocks.
Data from the NGX showed that market capitalisation surged by over N1.811 trillion, climbing to N90.580 trillion at the end of September from N88.769 trillion in August.
In the same period, the benchmark NGX All-Share Index (ASI) advanced by 1.7%, closing at 142,710.48 points compared to 140,295.50 points previously.
Market watchers noted that the renewed upswing was supported by interest in large-cap stocks, as investors engaged in a mix of profit-taking from prior dips and fresh positioning in fundamentally strong equities.
Sentiment was shaped by expectations of robust corporate earnings, sectoral opportunities, and macroeconomic indicators, all of which combined to create a cautiously positive outlook.
On the final trading day of the month, the NGX ASI closed 0.23% higher at 142,710.48 points, with market capitalisation rising by N445.2 billion to settle at N90.58 trillion.
Gains were driven largely by sustained demand in select equities, with ARADEL appreciating by 9.82%, Fidelity Bank by 5.26%, Nigerian Breweries by 2.38%, and Transcorp by 8.48%.
Despite the upbeat close, market breadth remained negative, with 31 decliners outpacing 28 gainers.
Analysts at InvestData Consulting Limited noted that, “Looking ahead, the equities market appears poised for a cautious continuation of the recovery. Macro-economic factors such as domestic inflation trends, exchange rate volatility, and policy developments will remain critical in shaping market sentiment, alongside global cues such as crude oil prices and international risk appetite.”
