NGX posts 0.6% weekly gain despite Thursday dip as investors trade N52.8 billion
The Nigerian equities market closed the shortened trading week in positive territory, with the NGX All-Share Index (ASI) advancing 0.6% week-on-week despite ending Thursday’s session lower.
The Nigerian equities market closed the shortened trading week in positive territory, with the NGX All-Share Index (ASI) advancing 0.6% week-on-week despite ending Thursday’s session lower.
The benchmark index shed 0.05% on Thursday, June 11, to close at 244,738.74 points, while market capitalization declined by N72.74 billion to N156.97 trillion from N157.05 trillion recorded in the previous session.
However, gains recorded earlier in the week were sufficient to keep the market firmly in positive territory on a weekly basis.
The week’s performance marks a recovery from the previous week, when the market suffered its steepest decline of 2026, falling 3.11% amid broad-based profit-taking.
Trading data from the Nigerian Exchange Group (NGX) showed that losses in banking and consumer goods stocks weighed on Thursday’s session, offsetting gains recorded in insurance, oil and gas, and industrial goods counters.
The market’s resilience was largely driven by sustained buying interest in several heavyweight stocks over the four-day trading week:
The performance of these bellwether stocks helped the market reverse the sharp post-holiday sell-off that marked the start of the week and ultimately delivered a positive weekly close.
At the end of trading, the market’s month-to-date and year-to-date returns stood at +1.0% and +57.3% respectively.
Although the market closed marginally lower, investor participation strengthened considerably.
Market breadth reflected a broadly neutral sentiment, with 31 gainers matching 31 losers, but supported by renewed demand for large-cap and fundamentally strong stocks.
Among the top gainers, Learn Africa, Nigerian Enamelware, University Press and Consolidated Hallmark Holdings appreciated by 10% each to close at N11.00, N40.70, N5.50 and N8.25 per share, respectively.
Abbey Mortgage Bank dropped 7.69% to N11.40, while AXA Mansard Insurance shed 6.67% to close at N12.60 per share.
The gainers’ chart was dominated by maximum 10% movers — Consolidated Hallmark Holdings, Enamelware, Learn Africa, and Union Plastic — all of which hit the daily upside limit. ABC Transport’s 9.86% advance completed the top five.
These are largely lower-capitalisation names, and their simultaneous maximum daily advances point to concentrated speculative buying in select counters.
International Energy Insurance’s 10.00% decline to N7.11 — reversing part of its extraordinary 60.62% weekly gain recorded just one week prior — was entirely expected as a mean-reversion correction following speculative overextension.
May & Baker Nigeria’s 8.51% fall to N43.00 and Abbey Mortgage Bank’s 7.69% decline to N11.40 were more notable, with Abbey’s pullback reflecting continued volatility around its commercial banking licence conversion story.
The volume story was dominated by FCMB Group and Access Corporation, which together traded over 1.16 billion shares — representing approximately 67.7% of the session’s total volume.
Despite FCMB’s volume leadership at 584.87 million shares, Access Corporation led by value at N13.95 billion.
A 0.6% weekly gain marked a turnaround for the NGX, after plunging 3.11% in its worst week of 2026, representing a meaningful stabilization with a month-to-date return of +1.0% confirming that the market has recouped its early-June losses.
On market activity, trading volume and value advanced by 28.3% w/w and 20.1% w/w, respectively.
Heading into the next session, market sentiment is expected to improve, supported by post-holiday repositioning and the easing of the T+1 transition disruptions that amplified the recent correction.
