The Nigerian equities market began the week on a bullish note, with the NGX All-Share Index climbing 1.12% to close at 246,183.96 points. Investor wealth surged by N1.76 trillion, pushing total market capitalization to N158.81 trillion. Trading activity intensified, with volume, value, and deal counts rising significantly. First HoldCo was the session’s standout performer, gaining 9.95% to close at N105.50, following a strong half-year profit report of over N653.5 billion. Sustained demand for banking and industrial stocks, including significant gains from Custodian Investment, NEM Insurance, and BUA Cement, drove the market’s positive momentum.

Trading activity on the Nigerian Exchange Limited (NGX) reached a record N9.60 trillion in the first half of 2026, more than double the N4.19 trillion recorded in the same period last year. This surge, which eclipses previous full-year turnover totals, was primarily fueled by banking sector recapitalization, significant institutional buying, and robust participation from local retail investors. Domestic investors dominated the market, accounting for 87.93% (N8.448 trillion) of total activity, while foreign investors contributed 12.07%. High-cap stocks, including major banks, industrial, and consumer goods firms, were central to this liquidity expansion, signaling strong market resilience despite broader economic challenges.

The Nigerian Exchange (NGX) concluded the first half of 2026 as the second best-performing stock market in Africa, delivering a year-to-date return of 47.43%. The NGX All-Share Index rose from 155,613.03 points at the end of 2025 to 229,419.18 points by June 30, 2026, trailing only the Ghana Securities Exchange.

The rally was driven by robust corporate earnings across the banking, industrial, oil and gas, and telecommunications sectors, alongside progress in banking recapitalization and improved foreign exchange liquidity. Nigeria’s performance significantly outperformed the 24.68% average return across six major African exchanges, with South Africa and Morocco being the only markets in the cohort to post losses during the period. Furthermore, Nigeria’s market has gained global recognition, with S&P Dow Jones Indices placing it on a 2027 watchlist for potential reclassification to Frontier Market status.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.

The Nigerian equities market recorded a significant downturn on Monday, with the All-Share Index falling 0.84% to 241,749.11 points. Market capitalization shrunk by approximately N1.32 trillion, dropping to N155.13 trillion as profit-taking triggered widespread sell pressure across 46 stocks.

The industrial goods sector was the hardest hit, led by a 9.99% decline in BUA Cement. Other significant laggards included PZ Cussons, which fell 10%, along with notable losses in major banking stocks like FCMB Group, FBN Holdings, Zenith Bank, and GTCO. Despite the negative price movement, market activity increased, with trade volume rising 18.66% and total value traded jumping 33.39% to N22.28 billion. The market’s year-to-date return currently stands at 55.35%, with analysts attributing the sell-off to investor portfolio rebalancing.

The Nigerian equities market recorded a significant decline on Monday, with investors shedding N1.32 trillion in market capitalization as profit-taking swept through the industrial goods, banking, and consumer goods sectors. The NGX All-Share Index fell by 0.84% to close at 241,749.11 points, bringing the market capitalization to N155.13 trillion.

The session was marked by intense sell pressure, with 46 stocks recording losses against 19 gainers. BUA Cement led the industrial retreat with a 9.99% decline, while PZ Cussons emerged as the day’s biggest loser, dropping 10%. Banking heavyweights, including FCMB and First HoldCo, also faced notable declines. Despite the negative price movement, market activity intensified, with trade volume rising by 18.66% and total value surging by 14.81% to N22.28 billion. Year-to-date returns now stand at 55.35%.