By Boluwatife Oshadiya | August 4, 2026
Key Points
- Nigerian equities gained ₦288.44 billion as the NGX All-Share Index rose 0.18%
- Buying interest in banking and industrial stocks offset losses across other sectors
- Market breadth remained negative with 25 gainers against 39 losers
Main Story
The Nigerian stock market began August on a positive note on Monday, with investors recording a combined gain of ₦288.44 billion as selective buying in medium and large-cap stocks lifted the market despite weak overall breadth.
The Nigerian Exchange (NGX) All-Share Index (ASI) advanced by 446.85 points, or 0.18%, to close at 245,730.53, while total market capitalisation increased to ₦158.61 trillion, reflecting renewed investor appetite after recent bearish trading sessions.
Trading activity, however, weakened. According to market data analysed by Atlass Portfolio Limited, investors exchanged 923.01 million shares worth ₦37.85 billion across 72,544 deals, representing declines of 2.12% in trading volume and 19.02% in transaction value compared with the previous session.
ACCESSCORP emerged as the most actively traded stock by volume, accounting for 18.09% of total transactions, followed by HONYFLOUR (10.15%), STERLINGNG (6.20%), UNIVINSURE (5.62%), and CHAMS (3.67%). By value, ARADEL dominated trading, contributing 12.13% of total market turnover.
On the gainers’ chart, CAVERTON and ETERNA led with 10% appreciation each, while OMATEK, AVACAP, VITAFOAM, FTGINSURE, and MCNICHOLS also posted notable gains.
Losses were broader across the market, with 39 stocks closing lower. ETI recorded the steepest decline after shedding 9.95%, followed by CADBURY, THOMASWY, WAPIC, CMFC, and TRANSEXPR.
Sector performance was mixed. The Insurance, Consumer Goods, and Oil & Gas indices closed lower, while gains in the Banking and Industrial Goods sectors helped the market finish in positive territory.
What’s Being Said
“Approximately 923.01 million units valued at ₦37.85 billion were traded across 72,544 deals during the session,” Atlass Portfolio Limited said in its daily market report, noting that selective buying in banking and industrial stocks helped offset broader market weakness.
What’s Next
- Investors are expected to monitor the release of additional corporate earnings for the second half of the reporting season.
- Market participants will also watch for continued institutional buying ahead of upcoming monetary policy and macroeconomic data releases.
- Analysts expect sector rotation to remain a key driver of market performance in the near term.
The Bottom Line: The NGX has started the month with modest gains, signalling that investors remain willing to accumulate fundamentally strong stocks despite broader market weakness. Sustaining the rally, however, will depend on stronger earnings, improved market breadth, and continued institutional participation.
