The Nigerian equities market extended its recovery into a third consecutive session on Tuesday, June 9, 2026, as Airtel Africa’s maximum 10% daily gain — alongside broad-based buying in Tier 1 banking stocks and insurance counters drove N834.67 billion equities gains.
The NGX All-Share Index (ASI) appreciated by 0.53% to 244,697.62 points, just as the market capitalization rose by equal percentage, pushing the value of traded stocks to N156.79 trillion, up from N156.108 trillion.
Trading data from the Nigerian Exchange Group (NGX) showed the session built on Friday’s tentative N234.73 billion rebound — the first positive session of June — suggesting that the market correction phase that erased about N5 trillion between June 1 and June 4 is beginning to reverse.
The year-to-date return improved to reflect the three-day gain, as the market continues to track back toward the 60%-plus return level that characterised its position before the T+1-era sell-off began. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.3% and +57.3%, respectively.
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Airtel Africa led the day’s advances with the maximum 10.00% daily gain, climbing N365.50 to close at N4,021.20 per share — its most significant single-session move since listing on NGX. First HoldCo’s 8.49% advance to N69.00 was the most consequential banking move of the session.
Highlights of Tuesday’s trading
- All-Share Index: 244,697.62 points, up 0.53% from 243,396.25 at Monday’s close
- Market Capitalisation: N156.79 trillion, up N834.67 billion
- Volume Traded: 1,195.42 million shares, up 60.20% session-on-session
- Value Traded: N51.35 billion, down 11.56%
- Deals: 52,207 transactions, down 30.69%
- Market Breadth: 33 gainers vs 32 losers — slightly positive, and improving from the 11-gainer sessions of the previous week
Top 5 Gainers:
- Airtel Africa (AIRTELAFRI) — up 10.00% to N4,021.20 from N3,655.70
- International Energy Insurance (INTENEGINS) — up 9.90% to N8.77
- Abbey Mortgage Bank (ABBEYBDS) — up 9.76% to N11.25
- Infinity Trust Mortgage Bank (INFINITY) — up 9.63% to N10.25
- First HoldCo Plc (FIRSTHOLDCO) — up 8.49% to N69.00
Top 5 Losers:
- Learn Africa — down 10.00% to N9.45
- Trans-Nationwide Express — down 10.00% to N4.41
- Unilever Nigeria — down 10.00% to N140.40
- NAHCO — down 10.00% to N170.55
- Okomu Oil Palm — down 10.00% to N1,575.00
Top 5 by Volume:
- Sterling Financial Holdings — 715.66 million shares across 671 deals, valued at N5.41 billion
- GTCO — 49.19 million shares across 3,083 deals, valued at N6.68 billion
- FCMB Group — 34.39 million shares across 1,063 deals, valued at N412.79 million
- Veritas Kapital Assurance — 29.11 million shares across 234 deals, valued at N48.04 million
- Access Corporation — 27.32 million shares across 31 deals, valued at N680.78 million
More insights:
Airtel Africa’s 10.00% session gain was the standout move of the day and reflects a re-rating dynamic that has been building quietly beneath the surface of the broader market correction.
The stock — which operates pan-African mobile, data, and mobile money services across 14 countries — had been caught in the general sell-off that swept the NGX between June 1 and June 5, despite its dollar-earning model providing a natural hedge against naira depreciation.
- First HoldCo’s 8.49% advance to N69.00 was the most strategically significant banking move of the session. The stock had been one of the hardest-hit names in the correction week, declining from N70.00 at the start of June to a low of N62.00 by the week’s end — a 11.43% weekly decline.
- GTCO (0.74%), Zenith Bank (0.39%), Access Corporation (2.04%) as well as Wema Bank (1.31%), also posted gains, confirming that the tier-one banking segment as a whole is beginning to attract renewed institutional interest after the recent correction.
- The broader gainers’ list extended well beyond the headline names. NEM Insurance (+6.86% to N31.95), NPF Microfinance Bank (+7.84% to N5.50), Consolidated Hallmark Holdings (+2.34% to N7.44), and multiple smaller insurance counters contributed to a session in which the insurance sector continued to attract retail buying interest.
Transcorp (+2.18%), The Initiates (+3.42%), Dangote Sugar (+0.83%), Nigerian Breweries (+0.62%), and UAC of Nigeria (+0.19%) rounded out a broad gainers’ list that confirms Tuesday’s gain was not a single-name event.
However, five stocks hitting the maximum 10.00% downside limit simultaneously — Learn Africa, Trans-Nationwide Express, Unilever Nigeria, NAHCO, and Okomu Oil Palm — is a notable counterweight to the day’s positive tone.
Okomu Oil’s 10.00% decline to N1,575.00 is particularly significant given the stock’s premium valuation and its position as one of the NGX’s most closely watched agro-industrial names. Unilever’s maximum daily fall to N140.40 also extends a difficult patch for the consumer goods multinational.
Market turnover:
The total volume traded increased by 66.7% to 1.20 billion units, valued at N51.35 billion, and exchanged in 52,207 deals.
Sterling Financial Holdings dominated the volume chart with 715.66 million shares traded in just 671 deals, while Aradel was the most traded stock by value at N13.25 billion.
Sectoral performance was mixed as the Banking (+1.3%) and Insurance (+0.2%) indices advanced, while the Industrial Goods (-1.0%), Consumer Goods (-0.8%) and Oil & Gas (-0.6%) indices closed lower.
What you should know:
Tuesday’s N834.67 billion gain is the largest single-session market capitalisation addition since the correction began on June 1 and is more than triple Friday’s N234.73 billion recovery.
Combined, three positive sessions have restored about N1.58 trillion of the losses during the four-session losing streak — meaning the market has recovered roughly 30% of the correction within three rebound sessions.
The ASI at 244,697.62 points remains approximately 7,810 points — or about 3.1% — below its all-time high of 252,508 points reached on May 13, 2026.
Market breadth, while still slightly negative at 33 gainers versus 32 losers, represents a marked improvement and distribution of buying interest across the market.
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