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Nigerian Stock Market Extends Bullish Run as Capitalisation Hits New Peak

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Nigerian Stock Market

Nigerian Stock Market extends gains continues as capitalisation rises to N161.839 trillion, supported by MTN, BUA Cement and other key stocks despite weak trading activity

The stock market extended its mild bullish run midweek, with overall market capitalisation rising to a new peak despite subdued trading activity and cautious investor sentiment.

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Also read: PenCom Boosts Pension Equity Limits, Promoting Market Growth

Nigerian stock market bullish run capitalisation rise was reflected in a N64 billion increase, pushing market value to N161.839 trillion, while the All-Share Index (ASI) gained 96.52 points to close at 252,508.19 points, representing a 0.04 per cent rise.

The slight upward movement was driven by price gains in major large- and medium-cap stocks, including MTN Nigeria Communications, UAC of Nigeria, Berger Paints Nigeria, Fidson Healthcare, and BUA Cement.

However, overall trading activity weakened as volume declined by 6.69 per cent to 1.683 million units, valued at N109.439 billion across 76,557 deals.

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Market sentiment remained mildly positive, with 38 gainers compared to 29 decliners, indicating a fragile but slightly optimistic trading environment.

Analysis from Cowry Assets Management Limited suggested that the market may face mild headwinds in the short term due to weak participation and uneven breadth.

On the gainers’ table, Daar Communications, Fidson Healthcare, Livestock Feeds, CWG Plc, Berger Paints, FTN Cocoa Processors, and International Energy Insurance all recorded strong gains of up to 10 per cent.

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However, profit-taking weighed on some stocks, including NCR Nigeria, Zichis Agro Allied Industries, First Holdco, Neimeth International Pharmaceuticals, and Eterna Plc.

Banking stocks dominated trading activity, with First Holdco leading the chart, followed by United Bank for Africa, Access Holdings, Fidelity Bank, and Wema Bank.

Despite the gains in the index, analysts noted that the market remains vulnerable to short-term volatility due to inconsistent liquidity and cautious investor positioning.

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Also read: NGX Awards 2025 Honour Top Performers in Nigeria’s Capital Market

Overall, the session reflected a balance between modest optimism and underlying caution, as heavyweight stocks supported market growth amid weak broader participation.

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Rest of World to Shut Down as Search for New Home Continues

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Rest of World

Rest of World shutdown plans point to January 2027 as leaders seek a new institutional home for the nonprofit technology newsroom

Rest of World, the international nonprofit digital publication known for reporting on technology’s impact beyond Western markets, is preparing to end operations as an independent organisation in January 2027 while its leadership searches for a new institutional home.

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Deputy Editor Rina Chandran confirmed the development in a LinkedIn post on Monday, October 26, 2026, saying the newsroom would continue publishing until the end of January as efforts to secure a future for the publication continued.

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“Yes, it’s true: Rest of World is shutting down. After six years of award-winning reporting, our leadership is searching for a new home for the publication that was launched to cover innovation outside the West,” Chandran wrote.

She recalled joining the publication as its Southeast Asia editor in Bangkok before moving to San Francisco, where she became a deputy editor covering how technology developed in Silicon Valley affects people in other parts of the world.

Chandran described working with the publication’s reporters, editors, freelancers and columnists as a privilege, expressing appreciation for the people who contributed to its journalism.

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She also reassured contributors that work already commissioned would still be published and that existing journalism would be preserved and remain accessible.

“If you are a freelancer or columnist who has already been commissioned, you’re good! Your work will be preserved and continue to be accessible,” she wrote, thanking readers, donors and supporters.

The announcement follows a report by Semafor on Sunday that Rest of World founder and principal financial backer Sophie Schmidt had held discussions with several large institutions about potentially taking over the newsroom.

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According to Semafor, two people familiar with the plans said a late-January wind-down date had been set to give employees time to receive exit packages and seek new jobs if efforts to find a new institutional home failed.

Schmidt reportedly told donors that the publication would stop operating as a standalone entity at the end of January.

The proposed closure comes amid a reported decline in traffic from web searches and social media referrals over the preceding 18 months.

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The publication had attempted to retain readers by placing greater emphasis on Western audiences and requiring visitors to register before accessing articles.

Founded in 2020, Rest of World sought to broaden technology journalism beyond the traditional focus on Silicon Valley and other Western technology centres.

Its reporting examined how digital products, platforms and infrastructure shape everyday life, work and economies in emerging markets and other underreported regions.

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Schmidt pledged $60m to establish the project as a nonprofit newsroom.

Over the years, its coverage has explored technology-driven changes in labour markets, digital infrastructure, artificial intelligence and the influence of major technology companies.

The publication’s 2025 annual report said it reached more than 753,000 readers monthly across platforms and channels, with reporting spanning nearly 40 countries during the year.

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Those figures illustrate the scale of its international reporting, even as the organisation faces difficulties sustaining its current operating model.

The planned end of independent operations does not necessarily mean the publication’s journalism will disappear.

Its leadership is seeking an institution that could provide a future for the newsroom, while Chandran has said its existing work will remain accessible.

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Also read: Flamingos Target Quarter-Finals in Mexico Clash

Whether a suitable organisation will take over the publication, and what form Rest of World might take under new ownership or institutional support, remains unresolved.

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