H1 2026 NGX Report: Best and Worst Stocks as Aradel, Fortis Insurance Lead Massive Gains

An average equities investor who locked down N1 million in the shares of Aradel Holdings Plc on January 2, 2026 would have earned N2.11 million by end of June 30 through rise in price of the stock alone. The share price rose 111.57% to close at N1,417.50 per share on June 30, up from N670 on January 2.

In similar vein, Seplat Energy Plc, the most valuable stock in terms of price valuation, would have returned 95.6% as the unit price rose from N5,809.00 as of January 2 to N11,363.90 per share. Aradel and Seplat jointly lifted the NGX Oil & Gas Index by +90.2% increase year-to-date. But low-priced stocks like Fortis Global Insurance and Zichis Agro Allied Plc would have made an investor a millionaire with just N100,000 in the same period going by NGX trade data.

Market Overview and Sector Performance

By the close of June 30, 2026, the NGX All-Share Index settled at 229,419.18 points. The year-to-date (YTD) return closed at +46.8%, dropping from over 60% in May. Yet at 46.8%, H1 2026 remains one of the strongest half-year performances in NGX history. The market had peaked at a +60.49% YTD return on May 26, 2026. Market capitalisation stood at N160.09 trillion at that point before the June correction stripped more than 11 percentage points off the return.

The first half produced a broad-based rally across virtually every major index. Oil and gas, industrial, and growth indices delivered the strongest returns. The NGX Oil and Gas Index rose +90.2% from 2,670.24 to 5,079.06 points. The NGX Industrial Index gained +79.0% from 5,676.48 to 10,162.54 points. The NGX Lotus Islamic Index climbed +71.3% from 13,498.59 to 23,118.32 points. The NGX Growth Index rose +53.8% from 27,776.22 to 42,705.74 points. The NGX Premium Index was up +59.5% from 15,493.19 to 24,708.02 points. The NGX AFR Dividend Yield Index gained +50.8% from 21,981.77 to 33,151.05 points. The NGX 30 Index rose +46.8% from 5,672.72 to 8,326.29 points. The NGX Commodity Index added +49.3% from 1,173.90 to 1,752.64 points. The NGX MERI Growth Index rose +49.3% from 10,468.25 to 15,628.24 points. The NGX Banking Index gained +36.6% from 1,515.85 to 2,070.11 points. The NGX Consumer Goods Index rose +15.6% from 3,975.48 to 4,594.41 points. The NGX Insurance Index was the only major index in negative territory, falling -7.7% from 1,189.32 to 1,098.12 points.

Stocks That Minted Millionaires

Fortis Global Insurance, trading at just 20 kobo on January 2, posted a +1,510% gain to close at N3.57 per share on June 30. Zichis Agro Allied, despite regulatory scrutiny and a trading suspension, delivered +1,116.08% from its January 2026 listing price of N1.81 to a peak of N31.00 in May before moderating to close at N24.20 per share on June 30. SCOA Plc rose +365.459% to close at N33.05 per share on June 30, up from N7.10 per share. Union Dicon Salt Plc rose +244% to N23.75, from N6.90. Berger Paints gained +208% to N147.60, from N48.00. RT. Briscoe gained 184.29% to N9.95, up from N3.50 per share. Red Star Express Plc rose +182% to N24.55, from N8.70. McNichols Plc gained 160% to close at N8.50, up from N3.27 on January 2.

Other outstanding stocks that returned above 100% growth include CAP Plc up 154% to N175.10, from N69.00. Lafarge Africa (WAPCO) rose +130.48% to N310.00, from N134.50. NCR Plc surged +127% to close at N161.20, up from N72.70 per share. Airtel Africa rose +111.22% to N4,794.60, from N2,270.00. UACN Plc gained +103% to N185.00, from N91.00. The Initiates Plc (TIP) rose +103.01% to N27.00 from N13.30. Skyway Aviation Handling Company rose 93.6% to N171.20, up from N88.45. BUA Cement gained +90.59% to N340.20, from N178.50. ABC Transport rose +90.2% to N7.80, from N4.10. Jaiz Bank Plc rose +82.42% to N8.30, up from N4.55. Zenith Bank gained +77.99% to N110, from N61.80. Unilever Nigeria Plc rose +75% to N126.00, from N72.00. Nestle Nigeria gained +59.6% to N3,125.00, from N1,958.00. Presco Plc rose +58.6% to N2,300.00, from N1,450.00. Dangote Cement gained +58.13% to N963, from N609. MTN Nigeria rose +40.90% to N720.00, from N511.00.

Worst Performing Stocks in H1 2026

United Capital Plc (UCAP) fell -10.16% to N16.80, from N18.70. UPDC Plc (UPDC) dropped -34.69% to N3.20, from N4.90. VFD Group Plc (VFDGROUP) declined -5% to N10.45, from N11.00. Transnational Corporation Plc (TRANSCORP) shed -7.78% to N41.50, from N45.00. Caverton Offshore Support Group Plc (CAVERTON) fell -9.26% to N4.90, from N5.40. UPDC recorded the steepest H1 decline at -34.69%. The stock hit a 52-week low during the correction.

For Nigerian investors, the H1 2026 numbers confirm that the equities market remains a powerful wealth creation tool despite the June correction. The broad-based rally across sectors, especially in oil and gas and industrials, signals strong capital inflows. But the sharp divide between winners and losers and the brutal June pullback remind investors that timing and stock selection matter more than ever in this market.