The Nigerian equities market closed the shortened trading week in positive territory, with the NGX All-Share Index advancing 0.6 per cent week-on-week despite ending Thursday’s session lower.
The benchmark index shed 0.05 per cent on Thursday, June 11, to close at 244,738.74 points, while market capitalization declined by N72.74 billion to N156.97 trillion from N157.05 trillion recorded in the previous session.
However, gains recorded earlier in the week were sufficient to keep the market firmly in positive territory on a weekly basis.
The week’s performance marks a recovery from the previous week, when the market suffered its steepest decline of 2026, falling 3.11 per cent amid broad-based profit-taking.
Trading data from the Nigerian Exchange Group (NGX) showed that losses in banking and consumer goods stocks weighed on Thursday’s session, offsetting gains recorded in insurance, oil and gas, and industrial goods counters.
The market’s resilience was largely driven by sustained buying interest in several heavyweight stocks over the four-day trading week:
Airtel Africa gained +10.0 per cent
First HoldCo advanced +11.5 per cent
Oando rose +10.4 per cent
MTN Nigeria appreciated +3.2 per cent
GTCO added +0.9 per cent
The performance of these bellwether stocks helped the market reverse the sharp post-holiday sell-off that marked the start of the week and ultimately delivered a positive weekly close.
At the end of trading, the market’s month-to-date and year-to-date returns stood at +1.0 per cent and +57.3 per cent respectively.
Thursday’s session at a glance:
Although the market closed marginally lower, investor participation strengthened considerably.
ASI: 244,738.74 points, down -0.05 per cent
Market Capitalisation: N156.97 trillion, down -N72.74 billion
Volume Traded: 1.72 billion shares, up +40.29 per cent
Value Traded: N52.81 billion, up +35.96 per cent
Deals: 49,807, down -8.09 per cent
Year-to-date Return: 57.27 per cent
Market breadth reflected a broadly neutral sentiment, with 31 gainers matching 31 losers, but supported by renewed demand for large-cap and fundamentally strong stocks.
Highlights of sector performance:
Insurance Index: +0.73 per cent
Oil and Gas Index: +0.10 per cent
Industrial Goods Index: +0.09 per cent
Consumer Goods Index: -0.23 per cent
Banking Index: -0.17 per cent
Commodity Index: flat
Top 5 Gainers:
Consolidated Hallmark Holdings — up 10.00 per cent to N8.25 from N7.50
Enamelware Plc (ENAMELWA) — up 10.00 per cent to N40.70 from N37.00
Learn Africa Plc (LEARNAFRICA) — up 10.00 per cent to N11.00 from N10.00
University Press Limited — up 10.00 per cent to N5.50 from N5.00
ABC Transport (ABCTRANS) — up 9.86 per cent to N7.80 from N7.10
Top 5 Losers:
International Energy Insurance — down 10.00 per cent to N7.11 from N7.90
May and Baker Nigeria — down 8.51 per cent to N43.00 from N47.00
Tripple Gee and Company — down 8.47 per cent to N4.00 from N4.37
Abbey Mortgage Bank — down 7.69 per cent to N11.40 from N12.35
Axa Mansard Insurance — down 6.67 per cent to N12.60 from N13.50
Among the top gainers, Learn Africa, Nigerian Enamelware, University Press and Consolidated Hallmark Holdings appreciated by 10 per cent each to close at N11.00, N40.70, N5.50 and N8.25 per share, respectively.
Associated Bus Company gained 9.86 per cent to close at N7.80, while The Initiates Plc (TIP) advanced by 9.85 per cent to N33.45 per share.
On the losers’ table, International Energy Insurance led with a 10 per cent decline to close at N7.11 per share.
May and Baker Nigeria followed with a loss of 8.51 per cent to N43.00, while Tripple Gee and Company fell by 8.47 per cent to close at N4.00 per share.
Abbey Mortgage Bank dropped 7.69 per cent to N11.40, while AXA Mansard Insurance shed 6.67 per cent to close at N12.60 per share.
Top 5 by Volume:
FCMB Group (FCMB) — 584.87 million shares, valued at N5.92 billion
Access Corporation (ACCESSCORP) — 579.82 million shares, valued at N13.95 billion
United Bank for Africa (UBA) — 107.00 million shares, valued at N4.60 billion
NGX Group (NGXGROUP) — 49.10 million shares, valued at N6.69 billion
AIICO Insurance (AIICO) — 30.13 million shares, valued at N134.24 million
Top 5 by Value:
Access Corporation (ACCESSCORP) — N13.95 billion across 579.82 million shares
NGX Group (NGXGROUP) — N6.69 billion across 49.10 million shares
FCMB Group (FCMB) — N5.92 billion across 584.87 million shares
United Bank for Africa (UBA) — N4.60 billion across 107.00 million shares
Dangote Cement (DANGCEM) — N387.00 million across 339,746 shares
The gainers’ chart was dominated by maximum 10 per cent movers — Consolidated Hallmark Holdings, Enamelware, Learn Africa, and Union Plastic — all of which hit the daily upside limit. ABC Transport’s 9.86 per cent advance completed the top five.
These are largely lower-capitalisation names, and their simultaneous maximum daily advances point to concentrated speculative buying in select counters.
International Energy Insurance’s 10.00 per cent decline to N7.11 — reversing part of its extraordinary 60.62 per cent weekly gain recorded just one week prior — was entirely expected as a mean-reversion correction following speculative overextension.
May and Baker Nigeria’s 8.51 per cent fall to N43.00 and Abbey Mortgage Bank’s 7.69 per cent decline to N11.40 were more notable, with Abbey’s pullback reflecting continued volatility around its commercial banking licence conversion story.
The volume story was dominated by FCMB Group and Access Corporation, which together traded over 1.16 billion shares — representing approximately 67.7 per cent of the session’s total volume.
Despite FCMB’s volume leadership at 584.87 million shares, Access Corporation led by value at N13.95 billion.
A 0.6 per cent weekly gain marked a turnaround for the NGX, after plunging 3.11 per cent in its worst week of 2026, representing a meaningful stabilization with a month-to-date return of +1.0 per cent confirming that the market has recouped its early-June losses.
Trading volume and value both advanced strongly on a week-on-week basis — up 28.3 per cent and 20.1 per cent respectively — providing further evidence that institutional investors may have returned to the market following the T+1 settlement disruption that contributed to the opening-week sell-off.
Sector performance for the week saw Insurance (+1.6 per cent), Banking (+1.0 per cent), and Oil and Gas (+0.5 per cent) close higher.
However, Consumer Goods (-2.0 per cent) and Industrial Goods (-1.0 per cent) remained under pressure, reflecting ongoing profit-taking in cement and beverages names after exceptional year-to-date gains.
The year-to-date return of 57.27 per cent remains one of the strongest of any major global equity market in 2026.
On market activity, trading volume and value advanced by 28.3 per cent w/w and 20.1 per cent w/w, respectively.
Heading into the next session, market sentiment is expected to improve, supported by post-holiday repositioning and the easing of the T+1 transition disruptions that amplified the recent correction.
