NGX rebounds 1.65% as Dangote Cement leads N2.65trn rally

The Nigerian equities market opened the week with a strong rebound on Monday, as gains in Dangote Cement Plc, First HoldCo Plc and Aradel Holdings Plc lifted the Nigerian Exchange Limited (NGX) All-Share Index by 1.65 per cent, boosting investors’ year-to-date returns.

The benchmark index rose to 251,290.54 points from 247,211.38 points in the previous session, while market capitalisation increased by approximately ₦2.65 trillion to close at ₦163.16 trillion, reflecting renewed buying interest in major stocks, particularly in the industrial goods and banking sectors.

The rally raised the market’s year-to-date return to 61.48 per cent from 58.87 per cent, reinforcing the equities market’s strong performance in 2026 despite persistent price declines across a significant number of listed stocks.

Dangote Cement Plc led the major gainers, appreciating by 10 per cent, while First HoldCo Plc advanced by 7.56 per cent and Aradel Holdings Plc gained 2.48 per cent. Their performance helped offset losses in Fidelity Bank Plc, Nigerian Breweries Plc and PZ Cussons Nigeria Plc, which declined by 4.17 per cent, 1.33 per cent and 7.61 per cent, respectively.

The rally extended across major sectors, with the industrial goods index leading sectoral performance after rising by 5.37 per cent. The banking index followed with a 2.34 per cent gain, while oil and gas stocks advanced by 0.88 per cent and insurance shares rose by 0.67 per cent.

Consumer goods was the only declining sector, shedding 0.06 per cent, as losses in some stocks in the segment offset gains elsewhere in the market.

Despite the strong rise in the benchmark index, market breadth remained negative, with 37 stocks closing lower against 30 gainers, translating to a breadth ratio of 0.81 times. This indicated that the headline rally was driven by relatively strong performances in selected stocks rather than a market-wide advance.

Dangote Cement Plc, which gained 10 per cent, topped the gainers’ chart, while ABC Transport Plc led the decliners after shedding 9.59 per cent.

Trading activity presented a mixed picture, as total volume traded declined by 46.13 per cent to 329.53 million shares, even as the value of transactions increased by 9.98 per cent to ₦25.45 billion. The number of deals also rose by 30.12 per cent to 43,700, suggesting increased transaction frequency despite the decline in the volume of shares exchanged.

Access Holdings Plc led trading by volume, with 18.01 million shares exchanged, representing the highest volume among individual stocks. Dangote Cement Plc dominated transactions by value, with deals worth ₦6.39 billion.