NGX investors gain N1.76 trillion on buying interest across key sectors

The Nigerian equities market opened the week on a bullish note on Monday, July 20, 2026, with the market capitalisation climbing to N158.81 trillion, adding approximately N1.76 trillion to investor wealth in a single session, while the market’s year-to-date return advanced to 58.20% and its month-to-date return rose to +7.3%.

Similarly, the NGX All-Share Index (ASI) surged 1.12% to close at 246,183.96 points, up from 243,462.13 points at the previous close, as sustained buying interest in banking, industrial, and insurance stocks extended last week’s rally.

Trading activity strengthened across board, with volume, value, and deal count advancing 24.17%, 16.19%, and 28.86% to 851.63 million shares, N49.59 billion, and 56,873 transactions respectively.

Driving the numbers

First HoldCo remained the standout performer of the session, gaining 9.95% to close at N105.50, trading well above its previous 52-week high of N87.25 as the stock’s historic rally showed no signs of slowing.

• The lender was also the most active stock by both volume and value, with 203.94 million units worth N21.52 billion changing hands.
• This represents 23.95% and 43.38% of the day’s total volume and value respectively.
• The historic rally was largely driven by the Group’s half-year financial statement released on Monday showing over N653.5 billion pre-tax profit for the six-month period ended June 30, and sterling performance across all the financial metrics.

Highlights of market performance indicators:

• All-Share Index (ASI): 246,183.96 points, up +1.12% from 243,462.13 points.
• Market capitalization: N158.81 trillion, up +1.12% increase from N157.06 trillion.
• Total deals: up +28.86% to 56,873 from 44,134.
• Trading volume: up +24.17% to 851.63 million shares from 685.87 million shares.
• Market turnover: up +16.19% to N49.59 billion from N42.68 billion.

Sector performance:

• NGX Banking Index: up +3.14% to close at 2,422.72 points.
• NGX Industrial Index: up +2.82% to 10,325.88 points.
• NGX Insurance Index: up +0.25% to 1,138.72 points.
• NGX Oil & Gas Index: up +0.08% to 5,253.79 points.
• NGX Consumer Goods Index closed flat at 4,684.68 points.
• NGX Commodity Index closed flat at 1,781.26 points.

Top 5 Gainers

• Custodian Investment gained 10.00% to N75.90.
• NEM Insurance gained 10.00% to N30.80.
• BUA Cement gained 9.98% to N303.10.
• First HoldCo gained 9.95% to N105.50.
• FTN Cocoa Processors gained 9.94% to N9.29.

Top 5 Losers

• Sunu Assurances declined 10.00% to N3.60.
• Tripple Gee declined 9.77% to N3.51.
• ABC Transport declined 9.62% to N7.05.
• Abbey Mortgage Bank declined 9.00% to N9.10.
• Wapic Insurance declined 7.69% to N2.40.

Key heavyweight gainers driving market performance

Other heavyweight stocks that drove the session’s gains include:

• NGX Group — up 6.63% to N139.90
• United Bank for Africa — up 6.37% to N48.40
• Guinness Nigeria — up 3.34% to N340.00
• Zenith Bank — up 2.37% to N116.70
• Access Holdings — up 2.00% to N25.50
• Oando — up 1.28% to N39.50
• Unilever Nigeria — up 0.81% to N125.00

On the downside, Transcorp led heavyweight losers, declining 3.87% to N41.00, followed by PZ Cussons Nigeria (-1.17% to N80.00), International Breweries (-1.12% to N13.20), Fidelity Bank (-0.23% to N21.80), and GTCO (-0.15% to N129.00).

Sectoral performance:

Sectoral performance was broadly positive, with the Banking Index leading at +3.14%, followed by Industrial (+2.82%), Insurance (+0.25%), and Oil & Gas (+0.08%), while the Consumer Goods and Commodity sectors closed relatively flat.

Top gainers and losers:

Market breadth stayed roughly balanced, with 31 gainers against 30 losers, pointing to an evenly matched session even as heavyweight stocks pushed the index to a new high.

On the gainers’ table, Custodian Investment and NEM Insurance both hit their 10% daily limit, closing at N75.90 and N30.80 respectively.

• BUA Cement followed at +9.98% to N303.10.
• First HoldCo added 9.95% to close at N105.50.
• FTN Cocoa Processors rose 9.94% to N9.29.

On the losers’ side, Sunu Assurances shed 10.00% to close at N3.60, followed by Tripple Gee (-9.77% to N3.51), ABC Transport (-9.62% to N7.05), Abbey Mortgage Bank (-9.00% to N9.10), and Wapic Insurance (-7.69% to N2.40).

What you should know:

Monday’s rally builds on the strong momentum from last week, when First HoldCo’s rally alongside gains in the banking sector helped lift the market past the 243,000-point mark.

With First HoldCo now trading firmly above its previous 52-week high, the stock continues to exert outsized influence on index direction given its weight within the Banking Index.

The market is expected to sustain its positive momentum, underpinned by strategic portfolio rebalancing and continued institutional demand for banking and industrial heavyweights.

However, profit-taking may likely hit recently appreciated counters — particularly First HoldCo and BUA Cement. This could temper the pace of further gains in the sessions ahead.