By Boluwatife Oshadiya | August 6, 2026
Key Points
- Nigerian equities market added ₦70.62 billion as the All-Share Index rose 0.04%
- Bargain hunting in FIRSTHOLDCO, FCMB, Nestlé and McNichols lifted the market
- Trading activity weakened sharply despite the market’s positive close
Main Story
Equities investors gained approximately ₦70.62 billion on Wednesday after the Nigerian Exchange (NGX) reversed the previous session’s losses, with renewed buying interest in selected banking and consumer stocks pushing the market modestly higher.
The NGX All-Share Index (ASI) advanced by 109.41 points, or 0.04%, to close at 244,912.24, while total market capitalisation increased to ₦158.09 trillion.
The market’s recovery was driven by bargain hunting in medium- and large-cap stocks, including FIRSTHOLDCO, FCMB, Nestlé Nigeria and McNichols, helping offset losses recorded across several other counters.
Despite the positive close, overall market activity slowed considerably. Trading volume declined 47.25%, while transaction value fell 11.34% compared with the previous trading session. Investors exchanged 824.06 million shares valued at ₦25.47 billion across 48,114 deals.
FCMB emerged as the most actively traded stock by volume, accounting for 44.88% of all shares exchanged, followed by CHAMS, FIRSTHOLDCO, ACCESSCORP and LINKASSURE. FIRSTHOLDCO also dominated the value chart, contributing 22.37% of total transaction value.
On the gainers’ table, LINKASSURE appreciated 9.94%, followed by AVACAP (9.55%), FTGINSURE (7.69%), MCNICHOLS (7.34%), WAPIC (5.51%) and FIRSTHOLDCO (5.38%).
However, bearish sentiment remained evident as 29 stocks declined, compared with 20 gainers. HONYFLOUR and PZ led the losers’ chart after both shed 9.94%, followed by ZICHY, LEARNAFRCA, NEIMETH, AFRIPRUD and LEGENDINT.
Sector performance was mixed. Banking and Insurance indices gained 0.69% each, while Consumer Goods and Oil & Gas fell 0.41% and 0.005%, respectively. The Industrial Goods index closed flat.
What’s Being Said
“The market recorded a modest rebound following bargain hunting in selected medium- and large-cap stocks despite weaker trading activity,” according to the Nigerian Exchange trading data.
What’s Next
- Investors are expected to monitor whether buying interest in banking stocks can sustain the market’s recovery.
- Attention will remain on upcoming corporate earnings releases and dividend announcements.
- Analysts will also watch macroeconomic developments that could influence investor sentiment.
The Bottom Line: Wednesday’s rebound suggests investors remain willing to accumulate fundamentally strong stocks after recent declines. However, weaker trading volumes indicate market conviction remains cautious, with sustained gains likely to depend on stronger corporate earnings and broader economic signals.
 reversed the previous session's ...){kind=link}