NGX Gains 0.53% As Airtel Africa, First Holdco Lead Market Rally
- The NGX rose 0.53% on Tuesday, June 9, 2026, driven by strong buying in large and mid-cap stocks
- Airtel Africa, First Holdco, and other blue-chips led the gains, offsetting sector declines
- On the other hand, Learn Africa, Okomu Oil, Unilever, and NAHCO were among the major losers
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 continued its positive momentum on Tuesday, June 9, 2026, as the Nigerian Exchange (NGX) Limited gained 0.53%, driven by strong buying interest in selected large and mid-cap stocks.
Airtel Africa, First Holdco, and other major equities led the market’s advance, helping to offset losses recorded in some key sectors.
Source: Getty Images
NGX: How did the market perform?
The NGX All-Share Index (ASI) rose by 990.55 points to close at 244,697.62 points from 243,707.07 points, while market capitalisation increased by N636 billion to N156.944 trillion from N156.308 trillion.
Trading activity improved as volume increased by 81.26% to 1.3 billion shares from 717.2 million shares, while traded value stood at N57.9 billion compared with N56.7 billion previously. The number of deals, however, declined by 18.23%.
Airtel Africa topped the gainers’ chart, rising 10% from N3,655.70 to N4,021.20, while International Energy Insurance gained 9.90% from N7.98 to N8.77.
Abbey Mortgage Bank increased 9.76% to N11.25, Infinity Trust Mortgage Bank advanced 9.63% to N10.25, while First Holdco climbed 8.49% from N63.60 to N69.00.
On the losers’ list, Learn Africa declined 10% from N10.50 to N9.45, Trans-Nationwide Express dropped 10% from N4.90 to N4.41, and Okomu Oil fell 10% from N1,750.00 to N1,575.00.
Unilever Nigeria also lost 10% of its value, sliding from N156.00 to N140.40, while NAHCO declined 10% from N189.50 to N170.55.
Market sentiment was evenly matched at the close of trading, with 33 gainers and 33 decliners recorded on the price movement chart.
Three major sectors recorded losses as the industrial goods index declined by 0.99%, consumer goods fell 0.83%, and the energy index dropped 0.14%.
The banking sector gained 1.33%, while the insurance sector rose 0.24%, helping to cushion losses recorded in other segments.
Source: Getty Images
Most active stocks
- Sterling Holdings led trading activity with 715.7 million shares worth N5.4 billion.
- GTCO followed with 49.2 million shares valued at N6.7 billion.
- FCMB traded 34.4 million shares worth N412.8 million.
- Veritas Kapital exchanged 29.1 million shares valued at N48.0 million.
- Access Holdings recorded 27.3 million shares worth N680.8 million.
Capital market plan transition to t+1 settlement
Earlier, Legit.ng reported that the Central Securities Clearing System (CSCS) Plc has announced that Nigeria’s capital market will transition to a T+1 settlement cycle.
The move is part of efforts to improve efficiency and align with global standards.
The new framework comes about six months after the country’s central depository, clearing, and settlement agent migrated from a T+3 to a T+2 settlement cycle.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
