Nigeria’s stock market extended its bullish momentum on Thursday, with investors adding about N961.75 billion in market value as renewed demand for banking, telecommunications and consumer goods stocks lifted trading activity.
The Nigerian Exchange (NGX) closed higher for another consecutive session, with the All-Share Index (ASI) advancing by 0.62 per cent to 243,958.73 points, up from 242,459.98 points recorded in the previous session. The latest rally pushed the market’s year-to-date return to 56.77 per cent, reflecting continued investor confidence despite broader economic uncertainties.
The positive performance was driven largely by strong buying interest in banking stocks, particularly First HoldCo, alongside gains in major telecommunications and consumer goods companies.
Banking Stocks Lead Market Rally
Investor appetite remained concentrated in the financial sector, with notable demand recorded in First HoldCo, Zenith Bank, Access Holdings, GTCO, FCMB, and several other banking equities.
Other stocks that attracted significant buying included MTN Nigeria, Honeywell Flour Mills, NAHCO, Nigerian Breweries, Dangote Sugar, Transcorp, and Chams, helping sustain the market’s upward trend.
Market sentiment also remained positive, as advancing stocks outnumbered declining ones. A total of 29 equities posted gains compared with 24 losers, indicating broad-based participation across sectors.
International Breweries, First HoldCo Top Gainers
Among the day’s strongest performers, International Breweries led the gainers after rising by 10 per cent from N11.00 to N12.10.
First HoldCo followed closely, climbing 9.96 per cent from N63.25 to N69.55, making it one of the session’s standout performers.
Other major gainers included:
- Abbey Mortgage Bank – up 9.88% to N8.90
- Trans-Nationwide Express – gained 9.76% to N3.26
- Honeywell Flour Mills – advanced 9.68% to N17.00
Geregu Power, Thomas Wyatt Record Sharpest Declines
Despite the overall positive market performance, several stocks ended the session lower.
Thomas Wyatt Nigeria recorded the steepest decline, falling 10 per cent from N3.00 to N2.70.
Geregu Power also lost 10 per cent, dropping from N917.40 to N825.70.
Other notable decliners included:
- McNichols – down 9.76% to N5.55
- UPDC – fell 9.20% to N3.95
- Neimeth International Pharmaceuticals – declined 8.16% to N9.00
First HoldCo Drives Trading Activity
Trading activity strengthened significantly during the session, with investors exchanging approximately 1.66 billion shares worth N111.96 billion across 44,727 deals.
First HoldCo dominated market activity, accounting for the overwhelming majority of transactions. The company traded approximately 1.26 billion shares valued at N85.61 billion, representing nearly 76 per cent of both the total trading volume and value recorded for the day.
Other actively traded stocks included:
- Zenith Bank – 43.83 million shares worth N4.65 billion
- Access Holdings – 40.99 million shares valued at N1.02 billion
- FCMB – 17.72 million shares worth N188.30 million
- Fidelity Bank – 16.02 million shares valued at N315.16 million
Investor Confidence Remains Strong
Thursday’s performance reinforces the Nigerian stock market’s strong upward trajectory in 2026, with sustained buying interest in banking stocks continuing to underpin gains.
Market analysts say investors remain optimistic about the earnings outlook of major listed companies, particularly within the financial sector, while selective investments in telecommunications and consumer goods stocks continue to support the broader market.
With the benchmark index maintaining its upward momentum and year-to-date returns approaching 57 per cent, attention will now turn to upcoming corporate earnings and macroeconomic developments that could shape investor sentiment in the weeks ahead.
