FRI JULY 24 2026-theGBJournal| Nigeria’s benchmark stock index rebounded on Thursday, lifted by strong gains in banking and consumer stocks, while the NASD Over-the-Counter (OTC) market extended its losses amid weaker trading activity.
The Nigerian Exchange (NGX) All-Share Index rose 0.98% to close at 247,831.40 points, pushing the market’s year-to-date return to 59.26% from 57.71% in the previous session.
Market capitalisation increased 1.0% to N159.89 trillion.
The rally was driven by heavyweight stocks including FIRSTHOLDCO, which climbed 9.91%, ACCESSCORP, up 9.98%, and UNILEVER, which gained 7.64%.
Their advances more than offset declines in CORNERST, which fell 4.35%, TIP, down 3.03%, and AFRIPRUD, which lost 4.44%.
Despite the market’s gains, investor activity slowed markedly.
Trading volume declined 37.54% to 782.35 million shares, while the value of transactions fell 52.36% to N56.30 billion.
FIRSTHOLDCO led trading, accounting for 106.40 million shares worth N12.49 billion.
Market sentiment remained positive, with 36 stocks advancing against 28 decliners, resulting in a market breadth ratio of 1.29.
GUINNESS topped the gainers’ chart with a 10.00% increase, while MECURE posted the session’s steepest loss, dropping 9.96%.
In contrast, the NASD OTC Securities Exchange remained under pressure, with the NASD Security Index falling 1.40% to 4,322.22 points.
Market capitalisation also declined 1.40% to N2.59 trillion, trimming the market’s year-to-date return to 21.97%.
Trading on the OTC market weakened sharply as volume slumped 96.69% to 377,635 units, although the value of transactions eased by a more modest 6.26% to N40.45 million.
A total of 39 trades were executed during the session.
SDAFRILAND led the OTC gainers with a 6.47% rise, while SDMRS recorded the biggest decline, shedding 11.11%.
In the foreign exchange market, the naira strengthened slightly, with the official exchange rate appreciating 0.1% to close at N1,368.07 per U.S. dollar.
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