Nigerian stocks gain N191.77bn as First HoldCo drives modest ASI rise
The Nigerian equities market added N191.77 billion in market capitalization on Thursday, August 6, 2026, as the benchmark NGX All-Share Index rose 0.12% to close at 245,209.34 points. Market capitalization increased to N158.29 trillion from N158.09 trillion, pushing the year-to-date return to 57.58% while the month-to-date return slipped slightly negative at -3 basis points. Gains were driven by strong buying in First HoldCo, which advanced 2.19% to N140.00 and contributed N5.95 billion in trade value, alongside rises in Zenith Bank, Stanbic IBTC and Wema Bank. However, market breadth remained negative with 22 gainers versus 35 decliners, led by sharp falls in ETI (-9.99%) and FTG Insurance (-10%). Trading activity weakened, with volume down 35.5% to 531.77 million shares and turnover down 19.7% to N20.46 billion, indicating that the advance was concentrated in a few large‑cap stocks rather than broad‑based participation. Analysts note the persistent negative breadth suggests underlying selling pressure remains widespread even as headline indices climb. With gains concentrated in a handful of stocks, will you adjust your portfolio to diversify or continue to ride the momentum in the current leaders?