The Nigerian equities market extended its recovery into a fourth consecutive session on Wednesday, June 10, 2026, as gains in MTN Nigeria, Vitafoam, Livestock Feeds, Oando, and other select counters offset broad-based weakness across the market, adding N99.15 billion to investors’ wealth.
- +MTNN, Livestock, Vitafoam lift equities market as investors gain N99.15 billion
The NGX All-Share Index (ASI) appreciated by 0.06% to 244,852.21 points from 244,697.62 points recorded in the previous session, while market capitalization rose by an equivalent margin to N157.04 trillion.
The NGX All-Share Index (ASI) appreciated by 0.06% to 244,852.21 points from 244,697.62 points recorded in the previous session, while market capitalization rose by an equivalent margin to N157.04 trillion.
Trading data from the Nigerian Exchange Group (NGX) showed the market sustained the positive momentum that emerged after last week’s correction, although the pace of gains moderated significantly compared to Tuesday’s N834.67 billion rally.
Consequently, the Month-to-Date and Year-to-Date returns improved to -2.2% and +57.4%, respectively, reflecting continued investor interest in selected fundamentally strong stocks despite lingering profit-taking activities across several sectors.
Despite the market’s positive close, the market breadth suggests negative sentiment with 30 gainers against 36 losers.
Other actively traded banking and financial stocks contributed significantly to turnover.
The market’s modest advance was largely supported by gains in large- and mid-cap stocks, particularly MTN Nigeria, Oando, Vitafoam, and NAHCO.
However, the market’s underlying sentiment remained weak as decliners outnumbered gainers.
The negative breadth suggests that Wednesday’s advance was driven by a relatively small number of influential stocks rather than broad market participation.
Trading activity was mixed during the session.
Aradel Holdings emerged as the most valuable stock traded during the session, accounting for N6.82 billion or approximately 17.6% of total market turnover.
Sectoral performance was mixed:
The positive performance of consumer goods and oil & gas stocks helped offset weakness in banking and industrial counters.
Wednesday’s N99.15 billion gain marks the fourth consecutive positive session for the Nigerian equities market following the sharp correction that wiped out roughly N5.14 trillion in market value during the first week of June.
The market’s ability to extend gains for a fourth straight session points to improving investor confidence, although the uneven breadth indicates that a full recovery in sentiment has yet to emerge.
