NGX Rebounds with N288bn Gain as Banking Heavyweights Drive Bullish Start
The Nigerian equities market opened the week on a bullish note on Monday, August 3, 2026, gaining N288.44 billion in market capitalization.
Strong buying interest in heavyweight banking stocks comfortably outweighed selling pressure across the insurance and consumer goods sectors.
The benchmark NGX All-Share Index (ASI) appreciated by 0.18% to close at 245,730.53 points, up from 245,283.68 points recorded in the previous session.
Concurrently, the total market capitalization climbed to N158.61 trillion, up from N158.33 trillion.
Financial Sector Gains Dominance
The session’s positive momentum was anchored firmly by large-cap lenders, which provided the bulk of the day’s upward drive:
FBN Holdings (First HoldCo) led the heavyweight contributors with a 3.43% surge to close at N134.00, driven by high liquidity, while UBA moved 3.37% to settle at N46.00.
Despite the overall bullish market sentiment, several prominent counters suffered significant pullbacks. Ecobank Transnational Incorporated (ETI) emerged as the biggest heavyweight loser, plunging 9.95% to close at N80.10.
Cadbury Nigeria also made a sharp from of 9.92% to close at N58.10 in the consumer goods sector.
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NGX Rebounds with N288bn Gain as Banking Heavyweights Drive Bullish Start
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