First HoldCo Leads Massive Trading Spree as NGX Adds N962bn in Market Value
- The Nigerian stock market closed on a positive note on Thursday, extending its bullish run for another session
- Investors gained approximately N961.75 billion as the market's year-to-date return climbed to 56.77%
- International Breweries and First HoldCo led the top gainers, while Geregu Power and Thomas Wyatt Nigeria recorded the steepest losses
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 closed higher on Thursday, July 9, 2026, extending its winning streak as renewed bargain hunting in banking stocks and selective buying in telecommunications and consumer goods shares boosted investor sentiment.
The benchmark NGX All-Share Index (ASI) rose by 0.62% to 243,958.73 points, up from 242,459.98 points in the previous trading session.
As a result, investors gained approximately N961.75 billion, while the market's year-to-date (YTD) return improved to 56.77%.
Source: Getty Images
Sector performance
The market's positive performance was supported by gains across key sectors, led by banking, telecommunications, and consumer goods stocks. Strong buying interest was recorded in First HoldCo, Honeywell Flour Mills, NAHCO, MTN Nigeria, Zenith Bank, Access Holdings, Chams, Nigerian Breweries, FCMB, Dangote Sugar, GTCO, and Transcorp.
Market breadth remained positive, with 29 gainers outperforming 24 losers, reflecting sustained buying interest across the local bourse.
Top gainers
- International Breweries rose from N11.00 to N12.10, gaining N1.10 (10.00%).
- First HoldCo advanced from N63.25 to N69.55, adding N6.30 (9.96%).
- Abbey Mortgage Bank climbed from N8.10 to N8.90, up N0.80 (9.88%).
- Trans-Nationwide Express gained from N2.97 to N3.26, rising N0.29 (9.76%).
- Honeywell Flour Mills increased from N15.50 to N17.00, adding N1.50 (9.68%).
Top losers
- Thomas Wyatt Nigeria declined from N3.00 to N2.70, losing N0.30 (10.00%).
- Geregu Power fell from N917.40 to N825.70, shedding N91.70 (10.00%).
- McNichols dropped from N6.15 to N5.55, down N0.60 (9.76%).
- UPDC lost 9.20%, falling from N4.35 to N3.95.
- Neimeth International Pharmaceuticals declined from N9.80 to N9.00, shedding N0.80 (8.16%).
Source: Getty Images
Most active stocks
Trading activity strengthened during the session, with a total of 1.66 billion shares valued at N111.96 billion exchanged in 44,727 deals.
- First HoldCo led trading by both volume and value, with 1.26 billion shares worth N85.61 billion, representing 75.98% of the day's total trading volume and 76.47% of total value traded.
- Zenith Bank traded 43.83 million shares valued at N4.65 billion.
- Access Holdings exchanged 40.99 million shares worth N1.02 billion.
- FCMB recorded 17.72 million shares valued at N188.30 million.
- Fidelity Bank traded 16.02 million shares worth N315.16 million.
Zenith leads list of 10 most valuable banks
Earlier, Legit.ng reported that ten commercial banks that are listed on the Nigerian Exchange had a combined market value of N24 trillion.
The data compiled showed that the list is led by Zenith Bank Plc, followed closely by Guaranty Trust Holding Company (GTCO).
A company's market capitalisation is its net worth based on the stock exchange's assessment of value.
Source: Legit.ng
