The Nigerian equities market sustained its recovery for a second straight session on Tuesday, June 23, 2026, with market capitalisation climbing by **N1.64 trillion** as investors returned to blue-chip stocks and insurance counters.
Data from the Nigerian Exchange (NGX) showed the All-Share Index (ASI) advanced 1.06% to close at **240,743.19 points**, up from 238,219.19 points in the previous session. Market capitalisation rose to **N154.48 trillion**.
The rally followed Monday's N1.52 trillion gain, signalling a gradual return of bargain hunters after a recent correction that wiped off more than N16 trillion from market value following the May all-time high.
Buying interest in bellwethers including Airtel Africa, GTCO, Access Holdings, First HoldCo, Lafarge Africa and Zenith Bank drove the market higher. Twenty-six other stocks also recorded gains.
The insurance sector led sectoral performance, advancing 2.84% on strong gains in Guinea Insurance, International Energy Insurance, Cornerstone Insurance and Sovereign Trust Insurance.
Banking stocks extended Monday's recovery, with GTCO gaining 1.49% while Access Holdings, First HoldCo and Zenith Bank posted modest advances, pushing the banking index 0.18% higher. The consumer goods sector rose 0.18%, supported by gains in McNichols and International Breweries. Industrial goods advanced marginally by 0.07%, underpinned by Lafarge Africa's gain, while the oil and gas index slipped 0.09% as losses in Oando weighed.
Airtel Africa was among the session's biggest drivers after gaining the maximum 10% to close at **N4,358.80**, providing significant support to the benchmark index.
**Airtel Africa** led the gainers alongside Guinea Insurance, International Energy Insurance, Tripple Gee & Company and Cornerstone Insurance. On the losing side were Red Star Express, Premier Paints, Trans-Nationwide Express, Royal Exchange and Abbey Mortgage Bank.
Market activity strengthened as volume traded rose 15.50% to **564.91 million shares**, while value traded increased 7.09% to **N39.35 billion**. Market breadth turned positive with 32 gainers against 23 losers.
Fidelity Bank topped the volume chart with 59.37 million shares, followed by Zenith Bank (49.53 million), Dangote Sugar Refinery (43.12 million), Chams Holding (39.51 million) and Access Holdings (30.71 million). By value, MTN Nigeria led with N8.02 billion, ahead of Zenith Bank (N5.86 billion) and Dangote Sugar Refinery (N3.12 billion).
The ASI has now recovered to 240,743.19 points, with the year-to-date return improving to 54.71% from 53.08% at the previous session.
Analysts expect investors to watch whether the current rebound can be sustained amid prevailing profit-taking activities and broader macroeconomic developments in the second half of the year.
