MTNN, Livestock, Vitafoam lift equities market as investors gain N99.15 billion

The Nigerian equities market extended its recovery into a fourth consecutive session on Wednesday, June 10, 2026, as gains in MTN Nigeria, Vitafoam, Livestock Feeds, Oando, and other select counters offset broad-based weakness across the market, adding N99.15 billion to investors’ wealth.

The NGX All-Share Index (ASI) appreciated by 0.06% to 244,852.21 points from 244,697.62 points recorded in the previous session, while market capitalization rose by an equivalent margin to N157.04 trillion.

Trading data from the Nigerian Exchange Group (NGX) showed the market sustained the positive momentum that emerged after last week’s correction, although the pace of gains moderated significantly compared to Tuesday’s N834.67 billion rally.

Consequently, the Month-to-Date and Year-to-Date returns improved to -2.2% and +57.4%, respectively, reflecting continued investor interest in selected fundamentally strong stocks despite lingering profit-taking activities across several sectors.

Highlights of Wednesday’s trading: 

• All-Share Index: 244,852.21 points, up 0.06% from 244,697.62 points
• Market Capitalisation: N157.04 trillion, up N99.15 billion
• Volume Traded: 1.23 billion shares
• Value Traded: N38.84 billion
• Deals: 54,193 transactions

Despite the market’s positive close, the market breadth suggests negative sentiment with 30 gainers against 36 losers.

Top 5 Gainers:

• Livestock Feeds (LIVESTOCK) — up 10.00% to N9.35
• Deap Capital Management (DEAPCAP) — up 9.86% to N5.35
• Abbey Mortgage Bank (ABBEYBDS) — up 9.78% to N12.35
• Vitafoam Nigeria (VITAFOAM) — up 8.25% to N210.00
• FTN Cocoa Processors (FTNCOCOA) — up 6.54% to N9.45

Top 5 Losers: 

• Neimeth International Pharmaceuticals (NEIMETH) — down 10.00% to N9.00
• International Energy Insurance (INTENEGINS) — down 9.92% to N7.90
• John Holt Plc (JOHNHOLT) — down 9.73% to N13.45
• UPDC Hotel REIT (UHOMREIT) — down 8.56% to N70.00
• The Initiates Plc (TIP) — down 8.42% to N30.45

Top stocks by volume: 

• Sterling Financial Holdings (STERLINGNG) — 565.33 million shares
• FCMB Group — 122.39 million shares
• Access Holdings (ACCESSCORP) — 49.69 million shares

Other actively traded banking and financial stocks contributed significantly to turnover.

Top stocks by value: 

• Aradel Holdings (ARADEL) — N6.82 billion
• MTN Nigeria (MTNN) – N4.5 billion
• Sterling Financial Holdings (STERLINGNG) – N4.51 billion

More insights: 

The market’s modest advance was largely supported by gains in large- and mid-cap stocks, particularly MTN Nigeria, Oando, Vitafoam, and NAHCO.

• MTNN rose by 1.27% as investors continued to position in fundamentally strong counters with resilient earnings profiles.
• Oando gained 3.60%, while Vitafoam advanced 8.25% to N210.00, extending its rally and trading above its previous 52-week high of N194.00.
• Livestock Feeds emerged as the best-performing stock of the day, gaining the maximum 10.00% daily limit to close at N9.35.
• Abbey Mortgage Bank continued its strong run with a further 9.78% appreciation.

However, the market’s underlying sentiment remained weak as decliners outnumbered gainers.

• Neimeth led the losers’ chart with a 10.00% decline.
• International Energy Insurance shed 9.92% after posting one of Tuesday’s strongest gains.

The negative breadth suggests that Wednesday’s advance was driven by a relatively small number of influential stocks rather than broad market participation.

Market turnover: 

Trading activity was mixed during the session.

• Total volume traded stood at 1.23 billion shares.
• Total value traded declined to N38.84 billion from N51.35 billion recorded in the previous session.
• A total of 54,193 deals were executed during the trading day.
• Sterling Financial Holdings dominated the volume chart, accounting for 46.1% of total shares traded with 565.33 million units exchanged.

Aradel Holdings emerged as the most valuable stock traded during the session, accounting for N6.82 billion or approximately 17.6% of total market turnover.

Sectoral performance was mixed:

• Consumer Goods Index: +0.4%
• Oil & Gas Index: +0.1%
• Banking Index: -0.8%
• Industrial Goods Index: -0.1%
• Insurance Index: Flat

The positive performance of consumer goods and oil & gas stocks helped offset weakness in banking and industrial counters.

What you should know

Wednesday’s N99.15 billion gain marks the fourth consecutive positive session for the Nigerian equities market following the sharp correction that wiped out roughly N5.14 trillion in market value during the first week of June.

• The latest gain follows Tuesday’s much stronger N834.67 billion advance and suggests that buying momentum remains intact, albeit at a slower pace.
• The market capitalization has now risen from N156.11 trillion at Monday’s close to N157.04 trillion.

The market’s ability to extend gains for a fourth straight session points to improving investor confidence, although the uneven breadth indicates that a full recovery in sentiment has yet to emerge.