The Nigerian stock kicked off the week on a positive note as renewed buying interest in Airtel Africa Plc, others pushed the market market capitalization above historic N160trillion mark.
Airtel Africa stock price appreciated by 8.59 per cent while the market capitalization value gained by N1.91 trillion or 1.2 per cent to close at N160.422 trillion as against N158.513 trillion it opened for trading.
However, Airtel Africa’s single gain of 8.59 per cent saw its market capitalization at N23.7 trillion as of August 10, 2026 closing of trading activities on NGX, emerging as the most capitalized stock on NGX.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) appreciated by 2,956.15 basis points or 1.20 per cent to close at 248,529.75 basis points from 245,573.60 basis points recorded at the close of trading last week.
This pushed the NGX ASI in its year-to-date (YTD) return improved to 59.71per cent, from 57.81per cent in the previous week.
The market was negative with 36 decliners and 23 advancers. Fortis Global Insurance gained 10 per cent to close at N2.86, per share. Chams Holding Company was next with a gain of 9.80 percent to close at N4.48, while NAHCO increased by 9.29 percent to close at N153.00, per share.
Airtel Africa appreciated by 8.59 percent to close at N6,300.00 and Sovereign Trust Insurance increased by 6.59 percent to close at N1.78, per share.
In the meantime, AVA Capital topped the losers’ chart by 10 per cent to close at N9.90, per share. The shares of Ecobank Transnational Incorporated (ETI) declined by 9.92 per cent to close at N64.95, while the shares of Caverton Offshore Support Group dipped 9.09 per cent to close at N5.00, per share.
Ikeja Hotel shed 8.41 per cent to close at N43.00 while FTN Cocoa Processors slid 8.37 per cent to close at N8.10, per share.
The total volume fell by 25.11 per cent to 1.137 billion units valued at N27.017 billion, traded in 59,185 deals. The activity chart was led by transactions in the shares of Consolidated Hallmark Holdings with 354.069 million shares worth N1.534 billion. Fortis Global Insurance followed with 307.343 million units valued at N818.333 million, while Access Holdings traded 48.075 million units worth N1.369 billion.
Chams Holding Company traded 37.371 million shares worth N163.296 million, while First Holdco traded 35.755 million shares worth N5.118 billion.
Going forward, the market is expected to continue its bullish trend as investors sentiment is turning positive, but residual profit-taking may slow down the pace of any recovery, Cowry Assets Management Limited said.
