NGX records strong rebound as 43 stocks gain, market cap rises N1.91trn

The Nigerian equities market gained 1.20% on Monday, August 31, 2026, extending its recent positive momentum as buying interest lifted major stocks. The NGX All-Share Index rose from 241,298.47 points to 244,199.39 points, while market capitalisation increased by approximately N1.91 trillion.

The market's year-to-date return strengthened to 56.93%, with 43 equities recording gains against 16 decliners during the trading session.

Heavyweight stocks drive the rally

The bullish performance was driven by gains across major equities, particularly banking, consumer goods, telecommunications and other heavyweight stocks. Access Holdings, MTN Nigeria, GTCO, and Nigerian Breweries were among the most actively traded stocks.

FGSUK2033S6 led the gainers, rising from N98.90 to N115.00, gaining N16.10 (+16.28%). McNichols increased from N4.50 to N4.95, gaining N0.45 (+10.00%). FTN Cocoa rose from N7.50 to N8.25, gaining N0.75 (+10.00%). SUNU Assurances increased from N3.12 to N3.43, gaining N0.31 (+9.94%). Sovereign Trust Insurance rose from N1.88 to N2.06, gaining N0.18 (+9.57%).

Decliners and trading activity

Tripple Gee fell from N2.88 to N2.60, losing N0.28 (–9.72%). ABC Transport declined from N5.25 to N4.75, shedding N0.50 (–9.52%). Nahco dropped from N150.20 to N136.35, losing N13.85 (–9.22%). RT Briscoe declined from N11.40 to N10.35, losing N1.05 (–9.21%). UPDC REIT fell from N14.20 to N13.50, shedding N0.70 (–4.93%).

A total of 606.19 million shares worth N38.70 billion were exchanged in 53,471 deals. Access Holdings led with 129.89 million shares valued at N4.16 billion. CMFC traded 58.02 million shares worth N162.73 million. Linkage Assurance exchanged 36.32 million shares valued at N70.05 million. GTCO recorded 32.10 million shares valued at N4.29 billion. Nigerian Breweries traded 29.62 million shares worth N2.22 billion. MTN Nigeria recorded the highest traded value at approximately N5.72 billion, accounting for 14.78% of the total value traded.

Otedola raises stake in First HoldCo

Earlier, Femi Otedola, chairman of First HoldCo Plc, increased his ownership in the financial institution after purchasing about 680.8 million additional shares through a private placement. The shares were acquired at an estimated cost of N29.6 billion, further increasing Otedola's influence in the company as First HoldCo advances its ongoing equity capital-raising programme. The private placement was valued at approximately N45 billion.

The positive session extends the market's strong run in August, with year-to-date return now at 56.93%.