NGX Extends Gains as Buying Interest Pushes Market Value Up by N99bn
- The stock market gained 0.06% as renewed buying interest in selected large- and mid-cap stocks extended recent gains
- Market breadth remained negative, with 36 stocks declining against 30 gainers, despite the positive market close
- Trading activity weakened as volume fell 3.47% to 1.23 billion shares, with transactions valued at N38.84 billion across 54,193 deals
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 equities market closed higher on Wednesday, June 10, 2026, extending its recent bullish run as a renewed buying interest in select large-cap and mid-cap stocks underpinned the market, despite general weakness elsewhere.
The Nigerian Exchange (NGX) All-Share Index (ASI) gained 0.06% to close at 244,852.21 points, up from 244,697.62 points recorded in the previous session.
Source: Getty Images
The positive movement increased investors’ wealth by N99.15 billion, with total market capitalisation rising accordingly.
The market’s year-to-date (YTD) return also improved to 57.35%, reflecting continued investor interest in key equities.
A mix of bargain hunting in fundamentally strong stocks after recent sell-offs pushed the market up, as selected blue-chip and mid-cap counters also registered strong buying interests.
Market performance
Key amongst the stocks were Vitafoam Nigeria Plc, Nigerian Aviation Handling Company Plc (NAHCO), Oando Plc, UAC Nigeria Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc and Stanbic IBTC Holdings Plc.
However, market sentiment remained weak, as more decliners than gainers (36 against 30) drove the market breadth down.
Livestock Feeds Plc was the market top gainer while Neimeth International Pharmaceuticals Plc led the market decliners. Vitafoam Nigeria Plc traded above its 52-week high of N194, closing at N210 after gaining 8.25%.
Top 5 gainers
- Livestock feeds rose by N0.85 to N9.35 per share, with a 10.00% gain.
- Deap Capital Management & Trust rose by N0.48 to N5.35 per share, with a 9.86% gain.
- Abbey Mortgage Bank rose by N1.10 to N12.35 per share, with a 9.78% gain.
- Vitafoam Nigeria Plc rose by N16.00 to N210 per share, with a 8.25% gain.
- FTN Cocoa Processors Plc rose by N0.58 to N9.45 per share, with a 6.54% gain.
Source: Facebook
Market activity
A 3.47% decline was recorded as the market traded 1.23 billion shares worth N38.84 billion on the floor of the Nigerian Stock Exchange. The number of deals signed was 54,193.
Sterling Financial Holdings Company Plc recorded the highest trade volume with 565.33 million shares traded, the bulk (46.10%) of total market volume.
Aradel Holdings Plc recorded the highest transaction value at N6.82 billion, representing 17.55% of the total value traded.
First City Monument Bank Plc (FCMB) and Access Holdings Plc contributed 9.95% and 4.04% of total trading volume, respectively.
At the same time, MTN Nigeria Communications Plc and Sterling Financial Holdings Company Plc followed Aradel Holdings Plc among the top stocks by value traded.
Rabiu earns over N1894bn
Earlier, Legit.ng reported that Nigerian billionaire and BUA Group Chairman is set to smile to the bank with a staggering N189.74 billion dividend from his shareholding in BUA Cement Plc, following strong financial performance and shareholder approval of the company’s 2025 results.
The billionaire earned the payout after BUA Cement declared a N10.00 dividend per share, making up a major share of total distributions approved at its 10th Annual General Meeting held in Abuja.
Rabiu holds a dominant 56.03% stake in BUA Cement, amounting to 18.974 billion shares out of the company’s 33.864 billion outstanding shares, positioning him as the largest beneficiary of the dividend.
Source: Legit.ng
