The Nigerian equities market delivered its most powerful single-session gain in weeks on Wednesday, July 8, 2026, as Airtel Africa’s 10 per cent maximum daily advance to N5,801.40 anchored a broad-based rally that added N3.45 trillion to investors’ wealth.

Airtel Africa’s N5,801.40 close is a new record for the telecoms counter, and along with gains by other blue chips, lifted the year-to-date return above the 55 per cent mark for the first time since the June correction began.

The NGX All-Share Index surged 2.27 per cent to close at 242,459.98 points, up from 237,083.28 points on Tuesday, with market capitalisation rising to N155.59 trillion.

The year-to-date return strengthened to 55.81 per cent, recovering approximately nine percentage points from the 46.78 per cent low recorded on July 7 and reclaiming levels not seen since before the June selloff intensified.

Five of the six major sectoral indices closed higher.

Only the Insurance Index declined, shedding 0.20 per cent.

The Oil and Gas Index led all sectors, surging 3.85 per cent to 5,292.70 points, its strongest single-day gain in recent sessions, as Aradel Holdings rallied 8.86 per cent alongside the broader energy recovery.

Buying interest was broad with thirty-four stocks advancing against 23 decliners, the third consecutive session of positive breadth.

Highlights of Wednesday’s trading showed the All-Share Index at 242,459.98 points, up 2.27 per cent.

Market capitalisation stood at N155.59 trillion, up approximately N3.45 trillion.

Volume traded was 518.43 million shares, up 5.02 per cent.

Value traded was N22.75 billion, down 18.80 per cent.

Deals totalled 48,495 transactions, down 2.95 per cent.

Year-to-date return stood at 55.81 per cent, with market breadth at 34 gainers versus 23 losers.

Among the top five gainers, Airtel Africa rose 10.00 per cent to N5,801.40.

Trans-Nationwide Express rose 10.00 per cent to N2.97, trading above its 52-week high of N2.70.

Fidelity Bank rose 9.97 per cent to N19.85.

Thomas Wyatt Nigeria rose 9.89 per cent to N3.00.

Zichis Agro-Allied Industries rose 9.69 per cent to N29.20.

Among the top five losers, Haldane McCall fell 9.95 per cent to N3.53.

McNichols fell 8.89 per cent to N6.15.

Transcorp fell 5.65 per cent to N40.05.

CWG Plc fell 5.24 per cent to N19.00.

VFD Group fell 5.19 per cent to N10.05.

In sectoral performance, the NGX Oil/Gas Index rose 3.85 per cent to 5,292.70 points.

The NGX Commodity Index rose 2.54 per cent to 1,800.25 points.

The NGX Industrial Index rose 1.89 per cent to 10,712.92 points.

The NGX Banking Index rose 1.07 per cent to 2,137.61 points.

The NGX Consumer Goods Index rose 0.31 per cent to 4,613.22 points.

The NGX Insurance Index fell 0.20 per cent to 1,129.40 points.

Wednesday’s session had two defining stories, Airtel Africa’s record close and the Oil and Gas sector’s resurgence, and together they underline the market’s recovery heading into the peak of the Q2 2026 earnings season.

Airtel Africa closed at N5,801.40, gaining N527.40 in a single session.

The stock has now risen more than 32 per cent from its June correction low.

The stock is now one of the year’s best-performing large-cap names on an absolute price basis, a new 2026 high, suggesting that institutional investors are building fresh positions ahead of the company’s Q2 2026 results.

Airtel Africa’s July 30 board meeting to consider the period’s financials is now one of the most closely anticipated in the July earnings calendar.

Fidelity Bank’s 9.97 per cent surge to N19.85 was the session’s second-most significant move in absolute impact terms.

The bank had been under selling pressure during the correction and Wednesday’s near-maximum daily gain signals renewed institutional interest ahead of Q2 2026 earnings.

Aradel Holdings added 8.86 per cent to drive the Oil and Gas Index’s 3.85 per cent gain, the sector’s best single-day performance since the June correction began.

The energy counter is steadily reclaiming lost ground following its extended selloff from N1,750.00 in mid-June to a correction low below N1,400.00.

The session’s broader participation was equally encouraging.

Wema Bank gained 3.33 per cent, Dangote Cement rose 3.15 per cent, Access Holdings added 2.31 per cent, Chams climbed 2.14 per cent, HBM, formerly WAPCO, advanced 2.13 per cent, NGX Group gained 1.46 per cent, FCMB rose 1.44 per cent, Zenith Bank added 1.43 per cent, and First HoldCo edged up 0.16 per cent.

The breadth and diversity of this gainers’ list, spanning telecoms, banking, cement, oil and gas, and financial services, confirms that the session’s advance was genuinely market-wide rather than driven by a single sector or handful of names.

Trans-Nationwide Express was one of the top gainers with a 10 per cent maximum advance to N2.97, its highest close in 2026 and above its previous 52-week high of N2.70.

The logistics counter has been among the more volatile mid-cap names in recent weeks.

Lasaco Assurance led by volume with 56.60 million shares, representing 10.92 per cent of total day’s volume, despite the Insurance Index being the session’s sole sectoral decliner.

Value traded declined 18.80 per cent to N22.75 billion despite the volume increase, a pattern that suggests the day’s buying was spread across a wider range of mid-priced stocks rather than concentrated in expensive large-cap names.

Deals count also eased 2.95 per cent to 48,495 transactions.

Wednesday’s N3.45 trillion single-session gain is the largest recorded on the NGX since the market’s June correction began, and the third consecutive session of meaningful advance.

The ASI has now recovered approximately 18,100 points, or 8.1 per cent, from its July 2 correction low of 224,321.97 points.

The year-to-date return of 55.81 per cent has reclaimed levels not seen since before the June correction intensified.

The market has recovered more than nine percentage points of year-to-date return from the 46.78 per cent low recorded earlier this week.

The Oil and Gas Index’s 3.85 per cent single-day advance is its strongest performance since the June correction began, and confirms that the sector, which delivered 90.2 per cent growth in H1 2026, is reasserting its leadership as buyers return to fundamentally sound energy names.

Five of six major sectoral indices advancing simultaneously on Wednesday marks only the second occasion this week that the market has achieved that breadth of sectoral participation, suggesting that the recovery is becoming more structurally grounded rather than driven by isolated momentum in single stocks.