Nigerian Exchange (NGX) all-share index pops higher during the intraday trading session on Wednesday, driven by bargain hunting in banking and insurance indices, among others. The Nigerian Exchange is still making an uptrend as investors’ sentiment remains solid with impressive earnings releases and dividend declarations from dividend aristocrats. The market index is already higher by 53 basis points, and this suggest positive close on the day. Buying interest has refused to slow as investors rotate assets from the fixed income market due to declining yields. Some positions in the Nigerian market was fuelled by fear of missing out, stockbrokers said. However, the sentiment has also been overtaken by earnings and interim dividends.
Many companies with broken balance sheets have shown significant improvement, coming from the low base in the equivalent period in 2025. At midday, the NGX All-Share Index rose by 0.53%, Alpha Morgan Capital Limited said in a note, reflecting positive market sentiment. Stockbrokers said the gain was driven by renewed investor interest in some mid- to high-capitalized stocks, including STERLINGNG (9.97%), BUACEMENT (7.33%), and OKOMUOIL (6.67%). Other top performers include FIRSTHOLDCO (1.56%), ACCESSCORP (0.37%), and OANDO (0.19%), among others. Insurance stocks also contributed to the market’s performance, with notable gains in MANSARD (10.00%) and CUSTODIAN (9.96%), among others.
NGX index rises intraday as banking, insurance stocks rally
