NGX Rallies 0.73% as Investors Gain N743 Billion, Fortis Global Dominates Trading

The Nigerian Exchange (NGX) recorded its strongest daily advance in August on Tuesday as renewed buying interest lifted the benchmark index by 0.73 percent, adding approximately N743 billion to investors’ wealth despite trading activity being heavily concentrated in a single stock.

The NGX All-Share Index (ASI) climbed from 244,939.31 to 246,723.57, extending the market’s recovery and pushing the benchmark above the 246,000-point level.

Equity market capitalisation increased from N158.513 trillion to N159.256 trillion, representing a gain of about N743 billion in a single trading session.

The rally comes after a mixed start to August and places the market comfortably above its 245,573.60 weekly close recorded on August 7.

Fortis Global Drives Record Trading Volume

Investors exchanged 3.909 billion shares valued at N32.38 billion in 45,608 deals during Tuesday’s session.

The remarkable trading volume, however, was overwhelmingly driven by Fortis Global Insurance Plc, which accounted for 3.292 billion shares valued at N9.58 billion.

Fortis Global alone represented approximately 84.2 percent of the total market volume, making it by far the most actively traded stock on the Exchange.

The unusually large volume follows the recent listing of 15 billion additional ordinary shares arising from the company’s debt-to-equity conversion, a transaction that significantly expanded its issued share capital.

Outside Fortis Global, trading activity was considerably lower.

Trans-Nationwide Express traded 84.58 million shares, while Access Holdings recorded 66.12 million shares worth N1.87 billion.

Consolidated Hallmark Holdings exchanged 54.34 million shares, while Fidelity Bank completed the top five with 46.86 million shares valued at N1.02 billion.

Property, Insurance and Industrial Stocks Lead Gainers

UPDC Real Estate Investment Trust emerged as the best-performing equity after appreciating 10 percent from N13.50 to N14.85.

FTN Cocoa followed with a 9.88 percent gain, while C & I Leasing advanced 8.26 percent.

Sovereign Trust Insurance rose 6.74 percent, and Regal Insurance added 6.33 percent.

The performance suggests investors rotated into selected real estate, industrial and insurance counters after recent profit-taking across several sectors.

AVA Capital Pulls Back After Strong Rally

Profit-taking resurfaced in a number of stocks that had recorded substantial gains in recent sessions.

AVA Capital declined 9.60 percent from N9.90 to N8.95, one of its largest daily declines since listing.

Despite the correction, the stock remains well above its N7.50 listing price, indicating that investors are taking profits after the strong post-listing rally rather than exiting the stock entirely.

Thomas Wyatt Nigeria extended its prolonged decline, shedding another 9.97 percent to close at N2.89.

The stock has now fallen by approximately 34 percent from its N4.38 closing price at the end of July, making it one of the weakest-performing equities so far in August.

International Energy Insurance lost 6.32 percent, while International Breweries declined 5.98 percent.

Banking Stocks Continue to Attract Interest

Although banking stocks did not dominate the daily gainers’ list, investor demand remained evident in several tier-one financial institutions.

Access Holdings generated N1.87 billion in transaction value, while Fidelity Bank recorded over N1.02 billion in traded value.

The continued activity reinforces the banking sector’s leadership following strong half-year earnings and dividend announcements that have supported investor confidence in recent weeks.

ETF Market Records Moderate Gains

Exchange-traded products closed mostly higher.

NEWGOLD advanced N900 to close at N104,900, while STANBICETF30 gained N125.50 to N2,150.50.

MERVALUE appreciated N1.59, VETBANK added N1.38, and VETGOODS gained 70 kobo during the session.

Bond Market Remains Quiet

Activity in the bond market remained largely unchanged.

AXA2027S1, CEMC2045S1, DAN2034S1 and several other listed debt instruments closed flat, reflecting relatively subdued activity in fixed-income securities.

Market Outlook

Tuesday’s performance represents the strongest single-day gain recorded by the NGX so far this month and suggests buying interest is gradually returning following the profit-taking that characterised the end of July.

However, the concentration of more than 84 percent of total trading volume in Fortis Global Insurance indicates that headline trading figures overstated the breadth of market participation.

Investors will continue to monitor second-quarter earnings releases, dividend declarations and corporate actions as attention remains focused on banking stocks, FirstHoldCo, Access Holdings, Fidelity Bank and other fundamentally strong companies that have driven much of the Nigerian stock market’s performance in 2026.

While Tuesday’s rally pushed the market higher, sustained gains will likely depend on broader participation across sectors rather than isolated high-volume transactions in individual stocks.