Nigeria Stock Market Gains N297.21bn as CBN Resets MPR
- Nigeria's equities market extended its bullish run on Tuesday, September 22, 2026, adding N297.21 billion to investors' wealth
- The NGX All-Share Index climbed 0.18% to close at 250,614.66 points, with the market's year-to-date return hitting 61.05%
- The CBN reset its Monetary Policy Rate from 26.5% to 23%, citing a disconnect between the MPR and actual market rates
PAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria's stock market recorded another day of gains on Tuesday, September 22, 2026, as buying interest across major stocks pushed investors' wealth up by N297.21 billion on the Nigerian Exchange.
The NGX All-Share Index closed at 250,614.66 points, up from 250,156.80 points at the end of the previous session, a rise of 0.18%.
Source: Getty Images
The gain lifted the market's year-to-date return to 61.05%, reflecting the continued momentum of Nigerian equities through 2026.
Stocks that drove Tuesday's rally
Several large and mid-cap stocks fuelled the day's positive performance.
Cadbury Nigeria topped the gainers with an 8.29% rise, followed by Stanbic IBTC Holdings at 7.09%. UBA climbed 4.07%, while Custodian Investment, Zenith Bank and GTCO added 2.71%, 2.64% and 2.54%, respectively.
Other notable gainers included HBMNG, First HoldCo, Dangote Cement, PZ Cussons Nigeria, NGX Group, Oando, NEM Insurance, Access Holdings, Nigerian Breweries and Wema Bank.
Sovereign Trust Insurance was the best-performing stock of the session, while Multiverse Mining and Exploration posted the sharpest decline.
Market breadth favoured buyers, with 36 stocks advancing against 26 that fell.
Regency Alliance Insurance hit a new 52-week low of N0.70, and Legend Internet also dipped below its previous 52-week low before closing at N3.40.
Trading activity rose sharply during the session.
Total volume climbed 45.82% to 837.26 million units across 52,126 deals, with total value reaching N48.57 billion. Fidelity Bank led by volume, with 165.43 million shares traded, making up 19.76% of the day's total.
Zenith Bank dominated by value, recording N13.73 billion, or 28.27% of the session's total traded value.
Source: Getty Images
CBN explains MPR cut to 23%
Earlier, Legit.ng reported that the market gains coincided with the Central Bank of Nigeria explaining why its Monetary Policy Committee cut the Monetary Policy Rate from 26.5% to 23% at its 307th meeting in Abuja.
The CBN said the old rate had drifted away from the interest rates actually being applied across financial markets, with the Standing Deposit Facility rate effectively replacing the MPR as the benchmark banks used to price transactions.
This gap, the apex bank said, was weakening the ability of monetary policy decisions to reach the real sector of the economy.
The CBN described the 350-basis-point reduction not as conventional easing but as an "operational realignment" intended to restore the MPR as the effective signal for interest rates across the economy.
Source: Legit.ng
