WED JUNE 24 2026-theGBJournal| Nigeria’s benchmark stock index rose more than 1% on Tuesday, buoyed by strong gains in telecoms and banking shares, while the naira weakened slightly in the foreign exchange market and activity on the over-the-counter market slowed sharply.
The Nigerian Exchange (NGX) All-Share Index advanced 1.1% to close at 240,743.19 points, recovering part of recent losses as investors accumulated heavyweight stocks including Airtel Africa, Transcorp and Guaranty Trust Holding Company (GTCO).
Month-to-date losses narrowed to 3.9%, while the index’s year-to-date return improved to 54.7%.
Market capitalisation increased by N1.63 trillion to N154.48 trillion, reflecting renewed investor appetite after recent bouts of profit-taking.
Airtel Africa climbed the daily maximum of 10%, while Transcorp gained 3.6% and GTCO added 1.5%, helping lift the broader market.
Trading activity strengthened during the session, with total volume rising 11% to 543.05 million shares worth N38.71 billion traded across 49,034 deals.
Fidelity Bank emerged as the most actively traded stock by volume with 59.37 million shares changing hands, while MTN Nigeria accounted for the largest turnover by value at N8.02 billion.
Sector performance was broadly positive.
The insurance index led gains with a 2.8% rise, followed by consumer goods, banking and industrial goods sectors, which posted modest advances. The oil and gas index was the only laggard, slipping 0.1%.
Market breadth remained positive, with 32 gainers outpacing 23 decliners, translating to a ratio of 1.4 times.
Guinness Nigeria and Airtel Africa topped the gainers’ chart with 10% increases each, while Red Star Express shed 10% and Premier Paints lost 9.9%, making them the session’s worst performers.
In contrast, the NASD Over-the-Counter market ended lower. The NASD Security Index fell 1.01% to 4,239.34 points, dragging market capitalisation down to N2.54 trillion. Despite the decline, the market maintained a year-to-date return of 19.63%.
Trading on the OTC platform weakened significantly, with volume declining 35.9% and value plunging 82.9%.
A total of 211,691 shares worth N5.57 million were exchanged in 38 deals. SDNASD Plc led the decliners with an 11.1% drop, while no stocks recorded gains during the session.
Meanwhile, the naira depreciated marginally in the official foreign exchange market, weakening by 0.2% to close at N1,371 per U.S. dollar.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
