NGX Maintains Upward Streak With 1.06% Index Growth
The Nigerian equities market extended its winning streak for a second consecutive session on Tuesday, June 23, 2026, as fresh buying interest across blue chip and mid cap counters lifted key performance indicators and reinforced an upward run that has defined 2026 trading.
The benchmark All Share Index advanced 2,524.00 points, or 1.06 per cent, to close at 240,743.19 points. Market capitalisation of listed equities rose by N1.64 trillion to settle at N154.48 trillion, deepening the value gains recorded since the year began.
The rally was driven largely by appreciation in medium and large capitalised stocks, among them Airtel Africa, Guaranty Trust Holding Company, Transnational Corporations, Lafarge Africa, and Zichis Agro Allied Industries. Market breadth closed positive, with 33 gainers outpacing 23 losers, a signal of sustained investor confidence.
Guinea Insurance and Airtel Africa topped the gainers’ chart, each appreciating by the maximum 10 per cent to close at N1.10 and N4,358.80 per share respectively. International Energy Insurance trailed with a 9.89 per cent rise to N6.11, while Tripple Gee & Company gained 9.82 per cent to finish at N3.69 and Cornerstone Insurance climbed 9.76 per cent to N6.75.
On the losing side, Red Star Express led the decliners, shedding 9.96 per cent to close at N24.85. Premier Paints followed with a 9.93 per cent drop to N30.40, while Trans Nationwide Express fell 9.82 per cent to N4.04. Royal Exchange lost 9.38 per cent to close at N1.45, and Abbey Mortgage Bank declined 9.29 per cent to N8.30.
Trading activity strengthened notably. Total volume surged 15.74 per cent to 564.91 billion units, with the shares valued at N39.35 billion exchanged in 49,230 deals. Fidelity Bank dominated the volume chart with 59.37 million shares worth N1.08 billion, followed by Zenith Bank, which traded 49.53 million shares valued at N5.86 billion. Dangote Sugar Refinery recorded 43.12 million shares worth N3.13 billion, while Chams Holding Company moved 39.51 million shares valued at N156.46 million and Access Holdings sold 30.71 million shares worth N703.63 million.
The latest gains build on a remarkable year for the bourse. In March 2026, the All Share Index crossed the 200,000-point mark for the first time in its history, closing at 201,474.89 points, with year-to-date returns then standing at 29.47 per cent. Market analysts and the Exchange itself have linked the surge to increased institutional liquidity and the banking sector recapitalisation programme.
The index has since pushed well beyond that threshold. By mid-May, the All Share Index had touched levels above 250,000 points, lifting the year-to-date gain past 61 per cent at one stage. Intermittent profit-taking has periodically trimmed those gains, underscoring the volatility that has accompanied the rally.
NGX Group Managing Director Temi Popoola has previously attributed the momentum to reforms strengthening domestic capital formation. He stated that “increased participation by local investors, improving corporate fundamentals, and continued market modernisation are reinforcing the role of the capital market as a catalyst for long-term wealth creation.”
With banking recapitalisation deadlines and corporate earnings releases still shaping sentiment, market watchers expect trading to remain active, though the recurring pattern of profit-taking suggests the rally may continue to move in measured steps.