Stock Market Opens New Week on a Positive Note, Investors Gain N234.7bn
- The Nigerian equities market opened the week on a positive note, with the benchmark index rising by 0.33%
- The advance was driven by renewed buying interest in large- and mid-cap stocks following recent profit-taking
- International Energy Insurance, TIP, ABC Transport, Abbey Mortgage Bank, and Linkage Assurance were among top gainers
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market opened the week on a positive note on Monday, June 8, 2026, extending the previous session’s gains as investors maintained buying interest across selected large- and mid-cap stocks.
The benchmark NGX All-Share Index (ASI) rose by 0.33% to close at 243,396.25 points, compared with 242,593.31 points recorded in the previous session.
Source: Getty Images
The gain boosted investors’ wealth by N514.97 billion, while the market’s year-to-date return improved to 56.41%.
Market activity was supported by gains recorded in several stocks, including The Initiates PLC, TIP, ABC Transport, Abbey Mortgage Bank, and Linkage Assurance.
Investor sentiment improved moderately, with market breadth closing positive as 32 stocks recorded gains, compared with 30 decliners.
Market performance
The NGX All-Share Index’s rise reflected sustained demand for selected equities, particularly among large- and mid-cap stocks.
The market’s upward movement was driven by renewed buying interest in stocks across key sectors, as investors continued to reposition their portfolios.
Top Gainers
- International Energy Insurance Plc rose from N7.26 to N7.98, gaining N0.72 or 9.92%.
- The Initiates PLC increased from N29.25 to N32.15, adding N2.90 or 9.91%.
- ABC Transport advanced from N6.20 to N6.80, gaining N0.60 or 9.68%.
- Abbey Mortgage Bank climbed from N9.35 to N10.25, rising by N0.90 or 9.63%.
- Linkage Assurance increased from N1.71 to N1.87, adding N0.16 or 9.36%.
Top losers
- Fidson Healthcare declined from N136.50 to N122.85, losing N13.65 or 10.00%.
- Academy Press dropped from N8.25 to N7.45, shedding N0.80 or 9.70%.
- RT Briscoe fell from N14.85 to N13.45, losing N1.40 or 9.43%.
- Sunu Assurances declined from N4.48 to N4.06, dropping N0.42 or 9.37%.
- Learn Africa decreased from N11.50 to N10.50, losing N1.00 or 8.70%.
Source: Getty Images
Volume and value contribution
Trading activity increased during the session, with total volume traded rising by 22.61% to 746.09 million shares valued at N58.05 billion across 75,217 deals.
- FCMB recorded the highest trading volume with 157.80 million shares exchanged, representing 21.15% of total market volume.
- Dangote Cement recorded the highest traded value at N29.77 billion, accounting for 51.28% of total value traded.
- PREMPAINTS contributed 8.18% of total market volume, while Dangote Cement accounted for 4.66%.
Other actively traded stocks included TIP, which recorded 32.82 million shares valued at N1.03 billion, and Jaiz Bank, which traded 32.59 million shares worth N293.29 million.
5 steps to buy refinery shares as Dangote confirms IPO date
Earlier, Legit.ng revealed how investors are positioning ahead of the Initial Public Offering (IPO) of the Dangote Group’s refinery, with President and Chief Executive, Aliko Dangote, confirming that the listing is expected to launch in September 2026.
Dangote disclosed this during an interaction with journalists after leading chairman Femi Otedola and senior executives of First HoldCo and its subsidiaries on a tour of the refinery complex in Lagos on Wednesday, May 20.
Source: Legit.ng
