The Nigerian equities market extended its recovery for a second consecutive trading session on Tuesday, June 23, 2026, as investors gained N1.64 trillion in market value amid renewed buying interest in blue-chip and insurance stocks.
Data from the Nigerian Exchange (NGX) showed that the All-Share Index (ASI) rose by 1.06% to close at 240,743.19 points, compared with 238,219.19 points recorded in the previous session. Market capitalisation also climbed to N154.48 trillion.
The latest gain follows Monday’s N1.52 trillion appreciation, indicating a gradual return of bargain hunters after a recent market correction that erased more than N16 trillion from investors’ wealth following the market’s all-time high in May.
Market sentiment remained positive as investors accumulated shares in major stocks, including Airtel Africa, GTCO, Access Holdings, First HoldCo, Lafarge Africa and Zenith Bank. Gains recorded in 26 other equities also contributed to the market’s strong performance.
As a result, the market’s year-to-date return improved to 54.71%, up from 53.08% in the previous session.
Market Performance
The benchmark All-Share Index advanced by 1.06% to settle at 240,743.19 points, while total market capitalisation increased by approximately N1.64 trillion to N154.48 trillion.
Trading activity also strengthened during the session, with investors exchanging 564.91 million shares valued at N39.35 billion in 49,230 deals.
Compared with the previous trading day, volume traded rose by 15.50%, while the value of transactions increased by 7.09%. However, the number of deals declined by 22.88%.
Market breadth closed positive with 32 gainers against 23 losers, reflecting broader buying interest across listed equities.
Top Performing Stocks
Guinea Insurance led the gainers’ chart after appreciating by 10.00% to close at N1.10 per share.
Airtel Africa also gained the maximum 10.00% to close at N4,358.80, emerging as one of the session’s major contributors to the market rally.
International Energy Insurance rose by 9.89% to N6.11, while Tripple Gee & Company gained 9.82% to close at N3.69. Cornerstone Insurance advanced by 9.76% to N6.75.
Top Decliners
Red Star Express topped the losers’ table after shedding 9.96% to close at N24.85.
Premier Paints declined by 9.93% to N30.40, while Trans-Nationwide Express fell by 9.82% to N4.04.
Royal Exchange lost 9.38% to close at N1.45, while Abbey Mortgage Bank dropped 9.29% to N8.30.
Most Active Stocks
Fidelity Bank emerged as the most traded stock by volume with 59.37 million shares exchanged.
Zenith Bank followed with 49.53 million shares, while Dangote Sugar Refinery recorded 43.12 million shares.
Chams Holding Company traded 39.51 million shares, while Access Holdings accounted for 30.71 million shares.
In terms of value, MTN Nigeria led the market with transactions worth N8.02 billion.
Zenith Bank followed with N5.86 billion, while Dangote Sugar Refinery recorded N3.12 billion in traded value.
Fidelity Bank posted N1.08 billion, while Access Holdings accounted for N703.63 million.
Sector Performance
The insurance sector emerged as the best-performing sector, gaining 2.84% on the back of strong advances in Guinea Insurance, International Energy Insurance, Cornerstone Insurance and Sovereign Trust Insurance.
Banking stocks also maintained positive momentum, helping the banking index rise by 0.18%. GTCO gained 1.49%, while Access Holdings, First HoldCo and Zenith Bank recorded moderate gains.
The consumer goods sector advanced by 0.18%, supported by gains in McNichols and International Breweries despite losses recorded by Dangote Sugar and Nigerian Breweries.
Industrial goods edged higher by 0.07%, largely driven by Lafarge Africa’s positive performance.
However, the oil and gas sector slipped by 0.09% as losses in Oando weighed on the sector index.
Tuesday’s N1.64 trillion gain marks the second consecutive day of recovery for the Nigerian stock market following weeks of profit-taking and market correction.
The positive market breadth, rising trading volumes and increased transaction values suggest improving investor confidence and stronger market participation.
Banking, insurance and telecommunications stocks continue to serve as the primary drivers of market performance, with Airtel Africa playing a significant role in Tuesday’s rally.
While the rebound has improved the market’s year-to-date return to 54.71%, analysts say investors remain cautious as they monitor corporate earnings expectations and broader macroeconomic developments in the second half of the year.
Market watchers will be closely observing whether the current recovery can be sustained amid ongoing profit-taking activities and prevailing economic uncertainties.
