Dangote Refinery IPO draws strong investor interest as NGX edges up 0.10%
By Aboki Forex —
The Nigerian Exchange (NGX) Limited closed in positive territory on Monday, July 28, 2026, as investors turned attention to the opening of the Dangote Refinery initial public offering (IPO). The market data for the session was dated Monday, September 14, 2026. The All-Share Index rose 0.10%, adding 246.50 points to close at 243,299.24 points from 243,052.74 points.
Market capitalisation climbed by N160 billion to close at N157.747 trillion. Market breadth was weak: 28 stocks declined while 20 advanced.
IPO demand overwhelms digital platforms
The Dangote Refinery IPO opened to strong investor interest from retail and institutional investors. Some digital subscription platforms buckled under high traffic. Analysts linked part of the demand to a fear of missing out as investors sought early access to one of Nigeria's most closely watched stock market transactions.
Royal Exchange and NGX Group lead gainers
Royal Exchange and NGX Group topped the gainers' table, each rising 10.00% to close at 99 kobo and N162.80 respectively. RT Briscoe followed with a 9.88% gain to N8.90. Secure Electronic Technology added 7.69% to settle at 70 kobo. Prestige Assurance rose 7.19% to N1.49.
On the losing side, John Holt shed 10.00% to N8.10, the steepest single-day decline. Ellah Lakes and DAAR Communications each fell 9.80%, closing at N9.20 and N1.38 respectively. Regency Alliance dropped 8.97% to 71 kobo. Learn Africa declined 8.67% to N7.90.
Trading activity and sector performance
A total of 429.0 million shares valued at N20.5 billion changed hands across 54,592 deals on Monday, September 14, 2026. That compared with 552.9 million shares worth N25.8 billion in 45,678 deals in the previous session. The number of deals rose 19.52%, while trading volume and value fell 22.41% and 20.54% respectively.
Sterling Holdings led trading activity with 78.1 million shares worth N588.9 million. Mutual Benefits followed with 42.1 million shares valued at N118.1 million, while Chams traded 28.5 million shares worth N98.4 million. Fidelity Bank and Access Holdings also featured among the most active stocks.
Among the major sector indices, only banking finished in the green, gaining 0.68%. The insurance index fell 0.53%, consumer goods dropped 0.23%, and the energy index slipped 0.05%. Industrial goods ended unchanged.
The Dangote Refinery IPO kept the market in focus even as breadth stayed negative. For Nigerian investors, the session showed strong appetite for new listing exposure, but also caution across most sectors. The NGX eked out a small gain on the day.