Nigerian stocks rise as banking stocks lift NGX ASI to 245,730 points
Nigerian equities opened the week bullish on Monday, August 3, 2026, as the NGX All-Share Index rose 0.18% to 245,730.53 points, lifting market capitalisation to N158.61 trillion and pushing the year‑to‑date return to 57.91%. Banking stocks led the advance – First HoldCo gained 3.43% to N134.00, UBA added 3.37% to N46.00, Zenith Bank rose 1.05% to N124.90, Fidelity Bank climbed 1.16% to N21.80, GTCO advanced 0.77% to N131.00 and Access Holdings edged up 0.19% to N26.35 – while NASCON Allied Industries (+2.63% to N195.00) gave industrial support. Top gainers also included Eterna (+10.00% to N36.30), Caverton Offshore (+10.00% to N5.50), Omatek Ventures (+9.88% to N1.78), AVA Capital (+9.70% to N9.05) and Vitafoam Nigeria (+7.90% to N194.00). Leading decliners were ETI (−9.95% to N80.10), Cadbury Nigeria (−9.92% to N58.10), Thomas Wyatt Nigeria (−9.82% to N3.95), Wapic Insurance (−9.80% to N2.30) and Consolidated Hallmark Insurance (−9.79% to N3.50). The Insurance Index fell 1.78% to 1,178.75 points, Consumer Goods slipped 0.18% and Oil & Gas dipped 0.09%, while the Banking Index rose 0.75% to 2,546.57 points. Market breadth was negative with 24 gainers versus 38 losers, yet deal count jumped 30.76% to 72,544 trades as volume slipped 2.12% to 923.01 million shares and turnover dropped 19.02% to N37.85 billion, pointing to heightened retail activity. The mixed performance shows selective buying in large‑cap banks amid sector‑specific weakness, suggesting a bullish yearly trend but caution on short‑term breadth. Given the banking‑led rally but mixed sector performance, will you increase exposure to banks, diversify elsewhere, or wait for broader market confirmation before adjusting your portfolio?