The Nigerian stock market staged a strong comeback in the trading week ended July 10, 2026, reversing its recent bearish trend as investors added about ₦9.3 trillion to the market’s value, driven by renewed buying interest across major sectors and heavyweight stocks.
A review of data from the Nigerian Exchange Limited (NGX) showed that the All-Share Index (ASI) and market capitalisation both gained 6.35 per cent during the week, with the benchmark index closing at 243,798.76 points, while market capitalisation rose to ₦156.445 trillion.
The sharp rebound marked a significant turnaround from the previous week’s weak performance and reflected renewed investor confidence across the market.
Market breadth also improved considerably as 60 listed companies recorded price gains, nearly three times the 22 gainers recorded in the previous week.
At the same time, the number of losing stocks dropped sharply to 28 from 57, indicating that buying interest spread across a wider range of equities.
International Breweries emerged as the week’s biggest gainer after its share price surged 40 per cent to close at ₦13.30. It was followed by RT Briscoe Plc, which gained 32.02 per cent to ₦13.40, while Livestock Feeds advanced 28.47 per cent to ₦9.25.
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First Holdco also attracted strong investor demand, rising 25.82 per cent to ₦69.20. Abbey Bank appreciated by 23.65 per cent to ₦9.15, while UPDC Real Estate Investment Trust climbed 22.41 per cent to ₦10.65.
Honeywell Flour Mill gained 21.43 per cent to close at ₦17.00, FTN Cocoa Processors rose 21.13 per cent to ₦9.00, Aradel Holdings increased by 19.67 per cent to ₦1,526.80, and C&I Leasing completed the top 10 gainers with a 19.63 per cent rise to ₦6.40.
Although the market closed firmly in positive territory, some stocks still recorded losses. McNichols posted the biggest decline after shedding 28.57 per cent to close at ₦5.00. Thomas Wyatt Nigeria lost 11.64 per cent to ₦2.43, followed by Geregu Power, which fell 10 per cent to ₦825.70.
CAP and Guinness Nigeria each declined by 9.99 per cent to ₦157.60 and ₦329.00 respectively. Ecobank Transnational Incorporated dropped 9.98 per cent to ₦85.70, while Mecure Industries lost 9.96 per cent to ₦85.45.
Haldane McCall fell 9.95 per cent to ₦3.53, LivingTrust Mortgage Bank declined 9.84 per cent to ₦3.39, while Fortis Global Insurance rounded out the list with a 9.63 per cent loss to ₦2.91.
The rally was broad-based as all major sectoral indices ended the week higher.
The industrial goods index led the advance with a gain of 10.46 per cent to close at 10,713.01, reflecting strong investor interest in manufacturing stocks.
The oil and gas index followed with an 8.11 per cent increase to 5,255.03, while the Banking Index rose 4.78 per cent to 2,149.14.
The commodity index appreciated by 4.68 per cent to 1,781.26, the insurance index gained 4.04 per cent to close at 1,132.98, while the consumer goods index advanced 3.11 per cent to 4,691.90.
Trading activity was mixed as investors traded 3.648 billion shares, representing a 4.53 per cent decline from the 3.821 billion shares exchanged in the previous week.
However, the value of transactions surged by 42.86 per cent to ₦220.568 billion from ₦154.393 billion, suggesting increased investment in higher-priced stocks and larger-value transactions.
The financial services industry maintained its dominance in market activity, accounting for 79.48 per cent of total trading volume and 66.81 per cent of total transaction value.
First Holdco, Zenith Bank and Fidelity Bank were the three most actively traded equities by volume, jointly contributing 47.85 per cent of all shares exchanged during the week.
Other Activities During the Week
Beyond trading activities, the Nigerian Exchange recorded notable corporate developments during the week. Lafarge Africa Plc officially completed its transition to HBM Nigeria Plc, following approvals obtained from shareholders at its Annual General Meeting held on April 30, 2026, and the issuance of a new certificate of incorporation by the Corporate Affairs Commission.
Consequently, the company’s trading symbol on the Exchange changed from WAPCO to HBMNG.
The Exchange also lifted the suspension placed on the shares of Thomas Wyatt Nigeria Plc with effect from July 6, 2026, after the company submitted its outstanding financial statements.
The company had been suspended since October 31, 2025, for failing to meet the filing requirements under the NGX Default Filing Rules.
With the submission of the required accounts and confirmation that they complied with the Exchange’s regulations, trading in the company’s shares resumed during the week.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X