NGX Gains 0.06% as Vitafoam, NAHCO, Oando Lead Bargain Hunting
By Aboki Forex —
The Nigerian equities market closed higher on Wednesday, June 10, 2026. The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 0.06% to settle at 244,852.21 points, up from 244,697.62 points in the previous session. This extended the market's recent bullish run.
Investors gained N99.15 billion in wealth as total market capitalisation increased. The year-to-date (YTD) return also improved to 57.35%, reflecting sustained interest in key equities.
Market breadth stays negative
Despite the index gain, market sentiment remained weak. A total of 36 stocks declined against 30 gainers, leaving the market breadth negative. Livestock Feeds Plc was the top gainer, while Neimeth International Pharmaceuticals Plc led the decliners.
Vitafoam Nigeria Plc traded above its 52-week high of N194, closing at N210 after an 8.25% gain. Other top gainers included Deap Capital Management & Trust (up 9.86% to N5.35), Abbey Mortgage Bank (up 9.78% to N12.35), and FTN Cocoa Processors Plc (up 6.54% to N9.45).
Trading activity weakens
Trading activity fell during the session. Volume dropped by 3.47% to 1.23 billion shares, while transactions were valued at N38.84 billion. A total of 54,193 deals were executed.
Sterling Financial Holdings Company Plc recorded the highest trade volume with 565.33 million shares, accounting for 46.10% of total market volume. Aradel Holdings Plc led by value, with N6.82 billion traded, representing 17.55% of total value. First City Monument Bank Plc (FCMB) and Access Holdings Plc contributed 9.95% and 4.04% of total volume, respectively. MTN Nigeria Communications Plc and Sterling Financial Holdings followed Aradel among top stocks by value.
Bargain hunting drives gains
Bargain hunting in fundamentally strong stocks pushed the market up. Key stocks that saw buying interest included Vitafoam Nigeria Plc, Nigerian Aviation Handling Company Plc (NAHCO), Oando Plc, UAC Nigeria Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc, and Stanbic IBTC Holdings Plc.