The Nigerian Exchange (NGX) Limited opened the week with a rebound of 0.97% on Monday, June 22, as bargain hunters aimed to cash in on the recent market decline. The uptick was supported by strong demand for banking stocks, particularly First Holdco, GTCO, and Zenith Bank, as investors rebalanced portfolios and took new positions in perceived bargains.
Market Performance Snapshot
At the close of trade, the All-Share Index (ASI) gained 2,261.84 basis points, rising from 235,941.27 to 238,203.11. Market capitalisation expanded by N1.508 trillion, moving from N152.835 trillion to N151.327 trillion. The banking sector led with a surge of 4.84%, followed by industrial goods, which gained 0.04%. However, insurance indices depreciated by 1.43%, while consumer goods and energy sectors fell by 0.40% and 0.06%, respectively.
Breadth and Sentiment
Market breadth was mixed, with 21 stocks appreciating and 37 declining, indicating lingering cautious sentiment among some investors. Despite the overall gain, the number of losers outpaced gainers.
Top Five Gainers
- First Holdco Plc: up 10.00% to N60.50
- GTCO Plc: up 10.00% to N127.10
- Zenith Bank Plc: up 7.09% to N117.80
- International Energy Insurance Plc: down 1.43% to N5.56 (not a gainer but listed in source)
- NPF Microfinance Bank Plc: down 5.12% to N5.20 (not a gainer but listed in source)
Top Five Losers
- Zichis Plc: down 10.00% to N23.40
- Consolidated Hallmark Holdings Plc: down 9.94% to N6.43
- Eterna Plc: down 9.90% to N27.75
- Deap Capital Management & Trust Plc: down 9.82% to N4.41
- Austin Laz Plc: down 9.74% to N28.12
Traded Volume Highlights
Fidelity Bank Plc traded 48.7 million shares valued at N894.2 million. UBA Plc traded 42.3 million shares valued at N1.7 billion. Access Holdings Plc traded 39.3 million shares valued at N886.1 million. Zenith Bank Plc exchanged 30.0 million shares valued at N3.5 billion. MTN Nigeria Plc traded 20.8 million shares valued at N16.6 billion.
SEC Transition to T+1 Settlement
Earlier, the Securities and Exchange Commission (SEC) announced that Nigeria’s capital market will transition to a T+1 settlement cycle for equities and commodities cleared through the Central Securities Clearing System (CSCS). Under the new arrangement, eligible transactions will be settled one business day after execution, replacing the current T+2 settlement cycle introduced on November 28, 2025. The Commission said the move is part of broader reforms aimed at modernising the market and improving operational efficiency.
