The Nigerian equities market continued its recovery for a third consecutive session on Tuesday, June 9, 2026. Airtel Africa's 10% daily gain, coupled with widespread buying in Tier 1 banking and insurance stocks, propelled equities gains by N834.67 billion.
The NGX All-Share Index (ASI) appreciated by 0.53% to 244,697.62 points, with market capitalization rising by an equal percentage to N156.79 trillion, up from N156.108 trillion.
Trading data indicates this session built on Friday’s rebound, suggesting a reversal of the market correction phase that saw approximately N5 trillion lost between June 1 and June 4.
The year-to-date return improved, with the market tracking back towards its pre-T+1 era sell-off levels. Month-to-Date and Year-to-Date returns settled at -2.3% and +57.3%, respectively.
Market Performance and Key Movers
Airtel Africa led the day's advances, achieving the maximum 10.00% daily gain and climbing N365.50 to close at N4,021.20 per share. This was its most significant single-session move since listing on the NGX.
First HoldCo's 8.49% advance to N69.00 was a notable move in the banking sector. The stock had experienced an 11.43% decline in the week prior, falling from N70.00 to a low of N62.00.
Other banking stocks like GTCO (0.74%), Zenith Bank (0.39%), Access Corporation (2.04%), and Wema Bank (1.31%) also posted gains, indicating renewed institutional interest in the tier-one banking segment.
The broader gainers' list included NEM Insurance (+6.86% to N31.95), NPF Microfinance Bank (+7.84% to N5.50), Consolidated Hallmark Holdings (+2.34% to N7.44), and several smaller insurance counters, reflecting continued retail buying interest in the insurance sector.
Transcorp (+2.18%), The Initiates (+3.42%), Dangote Sugar (+0.83%), Nigerian Breweries (+0.62%), and UAC of Nigeria (+0.19%) also contributed to the day's gains.
Notable Declines
However, five stocks simultaneously hit the maximum 10.00% downside limit: Learn Africa, Trans-Nationwide Express, Unilever Nigeria, NAHCO, and Okomu Oil Palm.
Okomu Oil's 10.00% decline to N1,575.00 is significant given its premium valuation and prominence in the agro-industrial sector. Unilever Nigeria's fall to N140.40 also marks a continuation of a difficult period for the consumer goods company.
Trading Statistics:
- All-Share Index: 244,697.62 points, up 0.53%
- Market Capitalisation: N156.79 trillion, up N834.67 billion
- Volume Traded: 1,195.42 million shares, up 60.20%
- Value Traded: N51.35 billion, down 11.56%
- Deals: 52,207 transactions, down 30.69%
- Market Breadth: 33 gainers vs 32 losers
Top 5 Gainers:
- Airtel Africa (AIRTELAFRI) — up 10.00% to N4,021.20
- International Energy Insurance (INTENEGINS) — up 9.90% to N8.77
- Abbey Mortgage Bank (ABBEYBDS) — up 9.76% to N11.25
- Infinity Trust Mortgage Bank (INFINITY) — up 9.63% to N10.25
- First HoldCo Plc (FIRSTHOLDCO) — up 8.49% to N69.00
Top 5 Losers:
- Learn Africa — down 10.00% to N9.45
- Trans-Nationwide Express (TRANSEXPR) — down 10.00% to N4.41
- Unilever Nigeria (UNILEVER) — down 10.00% to N140.40
- NAHCO — down 10.00% to N170.55
- Okomu Oil Palm — down 10.00% to N1,575.00
Top 5 by Volume:
- Sterling Financial Holdings — 715.66 million shares
- GTCO — 49.19 million shares
- FCMB Group — 34.39 million shares
- Veritas Kapital Assurance — 29.11 million shares
- Access Corporation — 27.32 million shares
