Airtel Africa, FUGAZ Banks Drive NGX Rebound with N1.64 Trillion Gain
By Aboki Forex —
The Nigerian equities market extended its recovery for a second straight session on Tuesday, June 23, 2026. Market capitalisation jumped by N1.64 trillion as investors snapped up blue-chip stocks and insurance shares.
Data from the Nigerian Exchange (NGX) showed the All-Share Index (ASI) rose 1.06% to close at 240,743.19 points. That is up from 238,219.19 points in the previous session. Market capitalisation settled at N154.48 trillion.
Tuesday’s gain follows a N1.52 trillion rally on Monday. Bargain hunters are returning after a sharp market correction that wiped off over N16 trillion from the peak hit in May.
Heavy buying in Airtel Africa, GTCO, Access Holdings, First HoldCo, Lafarge Africa and Zenith Bank pushed the market higher. Another 26 stocks also closed in the green.
The positive close lifted the market’s year-to-date return to 54.71% from 53.08% at the previous session.
What the data is saying: Renewed demand for fundamentally strong stocks across banking, insurance and industrial sectors powered Tuesday’s rally.
Key trading highlights:
All-Share Index: 240,743.19 points, up 1.06%
Market Capitalisation: N154.48 trillion, up about N1.64 trillion
Volume Traded: 564.91 million shares, up 15.50%
Value Traded: N39.35 billion, up 7.09%
Deals: 49,230 transactions, down 22.88%
Year-to-Date Return: 54.71%
Market Breadth: 32 gainers versus 23 losers (1.39x)
Top 5 Gainers:
Guinea Insurance (GUINEAINS) up 10.00% to N1.10
Airtel Africa (AIRTELAFRI) up 10.00% to N4,358.80
International Energy Insurance (INTENEGINS) up 9.89% to N6.11
Tripple Gee & Company (TRIPPLEG) up 9.82% to N3.69
Cornerstone Insurance (CORNERST) up 9.76% to N6.75
Top 5 Losers:
Red Star Express (REDSTAREX) down 9.96% to N24.85
Premier Paints (PREMPAINTS) down 9.93% to N30.40
Trans-Nationwide Express (TRANSEXPR) down 9.82% to N4.04
Royal Exchange (ROYALEX) down 9.38% to N1.45
Abbey Mortgage Bank (ABBEYBDS) down 9.29% to N8.30
Top stocks by volume:
Fidelity Bank (FIDELITYBK) 59.37 million shares
Zenith Bank (ZENITHBANK) 49.53 million shares
Dangote Sugar Refinery (DANGSUGAR) 43.56 million shares