By Boluwatife Oshadiya | July 10, 2026
Key Points
- Nigerian equities gained ₦961.75 billion as the NGX All-Share Index rose 0.62%
- Banking stocks, led by FIRSTHOLDCO, Zenith Bank and Access Holdings, drove market gains
- Market activity surged sharply, with trading volume and value rising over 219% and 392%, respectively
Main Story
The Nigerian Exchange (NGX) extended its bullish run on Thursday as investors gained approximately ₦961.75 billion, driven by sustained buying interest in banking stocks ahead of the second-quarter earnings season.
The NGX All-Share Index (ASI) advanced by 1,498.75 points, or 0.62%, to close at 243,958.73, while total market capitalisation increased to ₦156.55 trillion from the previous session.
Market sentiment remained positive as investors accumulated fundamentally strong stocks in anticipation of improved corporate earnings, with FIRSTHOLDCO, Zenith Bank, Access Holdings and MTN Nigeria attracting significant buying interest.
Trading activity strengthened considerably during the session. A total of 1.66 billion shares valued at ₦111.98 billion were exchanged in 44,780 deals, representing increases of 219.45% in trading volume and 392.14% in transaction value compared with Wednesday’s session.
FIRSTHOLDCO dominated market activity, accounting for more than 76% of total traded volume and value. Zenith Bank, Access Holdings, FCMB Group and Fidelity Bank also ranked among the day’s most actively traded stocks.
On the gainers’ chart, International Breweries Plc led with a 10.00% appreciation, followed by FIRSTHOLDCO (+9.96%), Abbey Mortgage Bank (+9.88%), Trans-Nationwide Express (+9.76%), Honeywell Flour Mills (+9.68%) and NAHCO (+8.84%).
Conversely, Thomas Wyatt Nigeria Plc and Geregu Power Plc each declined by 10.00%, topping the losers’ table alongside McNichols Plc (-9.76%), UPDC Plc (-9.20%), Neimeth International Pharmaceuticals (-8.16%), Daar Communications (-6.70%) and United Bank for Africa (-6.53%).
Overall, market breadth remained positive, with 29 gainers outperforming 24 losers. Sectoral performance was largely bullish as the Banking Index advanced 1.33%, Consumer Goods gained 1.21%, Insurance rose 0.26%, while Industrial Goods posted a marginal 0.0004% increase. The Oil and Gas Index was the only sector to close lower, shedding 0.19%.
What’s Being Said
Market analysts say investors continue to position for the second-quarter earnings season, with banking stocks attracting increased institutional demand amid expectations of stronger profitability following elevated interest rates and resilient balance sheets.
What’s Next
- Investors will closely monitor second-quarter corporate earnings expected to begin later this month.
- Banking stocks are likely to remain in focus as investors position ahead of interim dividend announcements.
- Market participants will also watch macroeconomic indicators, including inflation and foreign exchange movements, for fresh trading signals.
Bottom Line:
The continued rally underscores growing investor confidence in fundamentally strong Nigerian equities despite macroeconomic uncertainties. With earnings season approaching, sustained buying in banking stocks could provide further support for the market if corporate results meet expectations.
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