By Boluwatife Oshadiya | July 7, 2026
Key Points
- Nigerian stocks gained ₦3.17 trillion as the NGX All-Share Index advanced 2.15%
- Industrial Goods and Oil & Gas stocks led the rally, with ARADEL and DANGCEM among the biggest gainers
- Trading activity strengthened as transaction value jumped more than 40%
Main Story
Investors added ₦3.17 trillion to their portfolios on Monday as the Nigerian stock market rebounded sharply from last week’s losses, driven by renewed demand for blue-chip and mid-cap stocks across major sectors.
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 4,937.89 points, or 2.15%, to close at 234,178.23, while market capitalisation increased from ₦147.10 trillion to ₦150.27 trillion.
The rally was fuelled by renewed bargain hunting in heavyweight stocks, particularly within the Industrial Goods, Banking and Oil & Gas sectors. Industrial Goods emerged as the best-performing sector after gaining 4.89%, followed by Oil & Gas (4.22%), Banking (3.05%), Insurance (2.70%) and Consumer Goods (0.57%).
Major gainers included FIRSTHOLDCO and WEMABANK, both of which appreciated by 10.00%, while ARADEL rose 9.99%, NGXGROUP gained 9.96%, and VERITASKAP advanced 9.92%.
According to trading data, ZENITHBANK accounted for 16.62% of total trading volume and 25.25% of transaction value, making it the most actively traded stock on the exchange. Total trading volume climbed 18.40%, while the value of transactions surged 40.18% to approximately ₦38.70 billion, with 538.64 million shares exchanged in 64,065 deals.
Despite the bullish session, NAHCO and VITAFOAM topped the losers’ chart after shedding 10.00% each, followed by CAP (-9.99%), FTGINSURE (-9.94%), THOMASWY (-9.45%), MAYBAKER (-5.25%), and CHAMS (-3.06%).
Market breadth remained firmly positive, with 54 gainers compared with 12 losers, reflecting broad-based buying interest across the local bourse.
What’s Being Said
“The strong rebound reflects renewed bargain hunting after last week’s profit-taking, with investors taking advantage of attractive valuations in fundamentally sound stocks,” Atlass Portfolio Limited said in its daily market report.
Market analysts also noted that sustained interest in banking and industrial stocks continues to underpin investor confidence despite prevailing macroeconomic uncertainties, including elevated interest rates and inflationary pressures.
What’s Next
- Investors will monitor the release of second-quarter and half-year corporate earnings for signs of sustained earnings growth.
- Market participants are expected to watch developments in monetary policy and interest rate expectations ahead of the next Monetary Policy Committee meeting.
- Analysts expect bargain hunting to continue if blue-chip valuations remain attractive following recent market corrections.
The Bottom Line: Monday’s rally signals that investors remain confident in fundamentally strong Nigerian companies despite recent market volatility. Sustained corporate earnings and improving macroeconomic sentiment will determine whether the rebound develops into another extended bullish run.
