…Seplat shed 1.06%, Access Holdings fell 2.00%, while Fidson recorded the session’s steepest loss, dropping the daily maximum of 10%
…The NASD Security Index fell 0.86% to 4,358.32 points
TUE JUNE 09 2026-theGBJournal| Nigeria’s equities market started the week on a stronger footing, snapping the losses recorded in the previous week as investors returned to large-cap stocks, lifting market capitalization above N156 trillion despite persistent weakness in the foreign-exchange market.
The benchmark All-Share Index (ASI) advanced 0.33% to 243,396.25 points on Monday, reversing part of last week’s decline. The gain pushed the market’s year-to-date return to 56.41%, up from 55.90% previously, while total market capitalization increased by N510 billion to N156.11 trillion.
Investor sentiment was supported by renewed demand for heavyweight stocks, particularly MTN Nigeria, First HoldCo and Oando. MTN Nigeria rose 1.94%, First HoldCo gained 2.58%, while Oando surged 7.92%, helping offset declines in Seplat Energy, Fidson Healthcare and Access Holdings.
Seplat shed 1.06%, Access Holdings fell 2.00%, while Fidson recorded the session’s steepest loss, dropping the daily maximum of 10%.
The recovery suggests investors are selectively accumulating fundamentally strong counters after last week’s selloff, with buying concentrated in banking, telecommunications and energy stocks.
The gains also reflected continued appetite for stocks perceived as hedges against inflation and currency volatility.
Trading activity strengthened considerably, underscoring the return of market participation.
Total volume traded climbed 17.86% from the previous session, while the value of transactions jumped 76.88%, indicating stronger institutional involvement in the market.
FCMB Group emerged as the most actively traded stock by volume, with 157.8 million shares changing hands, while Dangote Cement dominated turnover after investors exchanged shares worth N29.77 billion, making it the session’s most valuable counter.
Market breadth remained firmly positive, with 37 stocks advancing against 28 decliners, translating to a breadth ratio of 1.32 times.
Industrial and engineering company International Energy Insurance led the gainers’ chart with a 9.92% increase, while Fidson Healthcare topped the losers’ list following its 10% decline.
In contrast, trading on the NASD Over-the-Counter market remained subdued. The NASD Security Index fell 0.86% to 4,358.32 points, dragging total market capitalization lower to N2.61 trillion.
The decline reflected continued weakness in several unlisted securities despite isolated gains.
Market activity on the OTC platform deteriorated sharply, with traded volume falling by half compared with the previous session, while transaction value declined 16.53%.
Among NASD-listed securities, Central Securities Clearing System Plc recorded the market’s only gain, edging up 0.08%. MRS Oil Nigeria’s unlisted shares led decliners, falling 11.11%.
Meanwhile, pressure persisted in the foreign-exchange market. The naira weakened by 0.8% at the official market, closing at NGN1,367.50 per U.S. dollar.
The depreciation highlights lingering demand pressures in the currency market even as domestic equities continue to attract investor interest amid expectations of improved corporate earnings and sustained economic reforms.
The divergence between the stronger equity market and weaker currency underscores the mixed sentiment across Nigerian financial assets, with investors balancing optimism over corporate performance against concerns surrounding foreign-exchange liquidity and broader macroeconomic conditions.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
