The Nigerian equities market sustained its recovery for a second consecutive session on Tuesday, June 23, 2026, gaining N1.64 trillion in market capitalisation as renewed buying interest in blue-chip stocks and insurance counters lifted the benchmark index.

Trading data from the Nigerian Exchange (NGX) showed that the All-Share Index (ASI) advanced by 1.06% to close at 240,743.19 points, up from 238,219.19 points recorded in the previous session, while market capitalisation increased to N154.48 trillion.

The latest rally followed Monday’s N1.52 trillion gain, suggesting a gradual return of bargain hunters after the recent market correction that wiped off more than N16 trillion from market value following the May all-time high.

Buying interest in bellwethers including Airtel Africa, GTCO, Access Holdings, First HoldCo, Lafarge Africa and Zenith Bank, alongside gains in 26 other stocks, drove the market higher.

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The positive close lifted the market’s year-to-date return to 54.71% from 53.08% at the previous session.

What the data is saying:

Renewed demand for fundamentally strong stocks across the banking, insurance and industrial sectors underpinned Tuesday’s rally.

Highlights of trading include:

  • All-Share Index: 240,743.19 points, up 1.06%
  • Market Capitalisation: N154.48 trillion, up approximately N1.64 trillion
  • Volume Traded: 564.91 million shares, up 15.50%
  • Value Traded: N39.35 billion, up 7.09%
  • Deals: 49,230 transactions, down 22.88%
  • Year-to-Date Return: 54.71%
  • Market Breadth: 32 gainers versus 23 losers (1.39x)

Top 5 Gainers:

  • Guinea Insurance (GUINEAINS) — up 10.00% to N1.10
  • Airtel Africa (AIRTELAFRI) — up 10.00% to N4,358.80
  • International Energy Insurance (INTENEGINS) — up 9.89% to N6.11
  • Tripple Gee & Company (TRIPPLEG) — up 9.82% to N3.69
  • Cornerstone Insurance (CORNERST) — up 9.76% to N6.75

Top 5 Losers:

  • Red Star Express (REDSTAREX) — down 9.96% to N24.85
  • Premier Paints (PREMPAINTS) — down 9.93% to N30.40
  • Trans-Nationwide Express (TRANSEXPR) — down 9.82% to N4.04
  • Royal Exchange (ROYALEX) — down 9.38% to N1.45
  • Abbey Mortgage Bank (ABBEYBDS) — down 9.29% to N8.30

Top stocks by volume:

  • Fidelity Bank (FIDELITYBK) — 59.37 million shares
  • Zenith Bank (ZENITHBANK) — 49.53 million shares
  • Dangote Sugar Refinery (DANGSUGAR) — 43.12 million shares
  • Chams Holding Company (CHAMS) — 39.51 million shares
  • Access Holdings (ACCESSCORP) — 30.71 million shares

Top stocks by value:

  • MTN Nigeria (MTNN) — N8.02 billion
  • Zenith Bank (ZENITHBANK) — N5.86 billion
  • Dangote Sugar Refinery (DANGSUGAR) — N3.12 billion
  • Fidelity Bank (FIDELITYBK) — N1.08 billion
  • Access Holdings (ACCESSCORP) — N703.63 million

More insights:

Tuesday’s session was largely driven by sustained accumulation in large-cap stocks and renewed interest in insurance counters.

  • Airtel Africa emerged as one of the session’s biggest drivers after gaining the maximum 10% to close at N4,358.80, providing significant support to the benchmark index.
  • The insurance sector led sectoral performance, advancing 2.84% on the back of strong gains in Guinea Insurance, International Energy Insurance, Cornerstone Insurance and Sovereign Trust Insurance.
  • Banking stocks also remained in demand, extending Monday’s recovery. GTCO gained 1.49%, while Access Holdings, First HoldCo and Zenith Bank posted modest advances, helping the banking index close 0.18% higher.
  • The consumer goods sector rose 0.18%, supported by gains in McNichols and International Breweries despite losses in Dangote Sugar and Nigerian Breweries.
  • Industrial goods advanced marginally by 0.07%, underpinned by Lafarge Africa’s gain, while the oil and gas index slipped 0.09% as losses in Oando weighed on the sector.

Market activity strengthened further as volume and value traded increased, indicating improved participation by investors. Market breadth also turned positive, with 32 gainers against 23 losers, reflecting broader buying interest across the market.

What you should know:

Tuesday’s N1.64 trillion gain marks the second consecutive session of recovery following the recent correction phase and suggests that bargain hunters are gradually returning to the market.

  • The ASI has now recovered to 240,743.19 points, with the year-to-date return improving to 54.71%.
  • Positive market breadth indicates a broader participation in the recovery compared with the previous session.
  • Banking, insurance and telecom stocks remain the primary drivers of market performance.
  • Trading activity improved across both volume and value metrics, pointing to stronger investor participation.

The market’s ability to post back-to-back gains signals improving sentiment, although investors remain cautious as they assess earnings expectations and macroeconomic developments in the second half of the year. Analysts will be watching whether the current rebound can be sustained amid prevailing profit-taking activities and broader market uncertainties.