NGX gains 5th straight day as First HoldCo trade drives N961B market cap jump
The Nigerian equities market closed higher for the fifth consecutive session on Thursday, July 9, 2026, gaining 0.62% to 243,958.73 points as market capitalization jumped N961.75 billion to N156.55 trillion. Year-to-date return strengthened to 56.77% - the highest since June - while month-to-date return reached +6.3%.
First HoldCo dominated trading with 1.26 billion shares worth N85.61 billion exchanged in a single session, signaling strong institutional interest ahead of its July 30 Q2 2026 earnings release. Banking stocks led sector gains (+1.33%) driven by GTCO, Access and Zenith Bank, while consumer goods added 1.21%. Top gainers included International Breweries (+10% to N12.10), First HoldCo (+9.96% to N69.55) and Abbey Bank (+9.88% to N8.90).
Losers were concentrated in thinly traded small-caps like Thomas Wyatt Nigeria and Geregu Power (both -10%). Market breadth remained positive with 27 gainers against 24 decliners, indicating broad-based recovery from the July 2 low of 224,321.97 points.
For investors: The breadth suggests this rally has substance beyond speculation. Banking and consumer goods strength may warrant portfolio review ahead of earnings season, with First HoldCo's July 30 results potentially setting tone for financial sector performance.