The Nigerian stock market closed higher on Thursday, July 9, 2026, extending its winning streak as renewed bargain hunting in banking stocks and selective buying in telecommunications and consumer goods shares boosted investor sentiment. The benchmark NGX All-Share Index (ASI) rose by 0.62% to 243,958.73 points, up from 242,459.98 points in the previous trading session. As a result, investors gained approximately N961.75 billion, while the market's year-to-date (YTD) return improved to 56.77%.
Sector Performance and Key Drivers
The market's positive performance was supported by gains across key sectors, led by banking, telecommunications, and consumer goods stocks. Strong buying interest was recorded in First HoldCo, Honeywell Flour Mills, NAHCO, MTN Nigeria, Zenith Bank, Access Holdings, Chams, Nigerian Breweries, FCMB, Dangote Sugar, GTCO, and Transcorp. Market breadth remained positive, with 29 gainers outperforming 24 losers, reflecting sustained buying interest across the local bourse.
Top Gainers and Losers
International Breweries led the gainers, rising from N11.00 to N12.10, gaining N1.10 (10.00%). First HoldCo advanced from N63.25 to N69.55, adding N6.30 (9.96%). Abbey Mortgage Bank climbed from N8.10 to N8.90, up N0.80 (9.88%). Trans-Nationwide Express gained from N2.97 to N3.26, rising N0.29 (9.76%). Honeywell Flour Mills increased from N15.50 to N17.00, adding N1.50 (9.68%).
On the downside, Thomas Wyatt Nigeria declined from N3.00 to N2.70, losing N0.30 (10.00%). Geregu Power fell from N917.40 to N825.70, shedding N91.70 (10.00%). McNichols dropped from N6.15 to N5.55, down N0.60 (9.76%). UPDC lost 9.20%, falling from N4.35 to N3.95. Neimeth International Pharmaceuticals declined from N9.80 to N9.00, shedding N0.80 (8.16%).
Most Active Stocks
Trading activity strengthened during the session, with a total of 1.66 billion shares valued at N111.96 billion exchanged in 44,727 deals. First HoldCo led trading by both volume and value, with 1.26 billion shares worth N85.61 billion, representing 75.98% of the day's total trading volume and 76.47% of total value traded. Zenith Bank traded 43.83 million shares valued at N4.65 billion. Access Holdings exchanged 40.99 million shares worth N1.02 billion. FCMB recorded 17.72 million shares valued at N188.30 million. Fidelity Bank traded 16.02 million shares worth N315.16 million.
Market Context
Earlier, Legit.ng reported that ten commercial banks listed on the Nigerian Exchange had a combined market value of N24 trillion. The list is led by Zenith Bank Plc, followed closely by Guaranty Trust Holding Company (GTCO). A company's market capitalisation is its net worth based on the stock exchange's assessment of value.
