The Nigerian Exchange (NGX) closed higher on Thursday as renewed demand for selected banking and financial stocks lifted the broader market despite relatively subdued trading activity.
The NGX All-Share Index gained 0.12 percent to settle at 245,209.34 on August 6, 2026, strengthening the market’s attempt to recover from the selling pressure recorded earlier in the week.
Equity market capitalisation closed at N158.278 trillion, while investors executed 44,826 deals involving 531.77 million shares valued at N20.46 billion.
Trading activity remained considerably below the levels recorded earlier in the week. On Tuesday, investors exchanged 1.562 billion shares worth N28.73 billion in 54,160 deals, although that session’s unusually high volume was largely driven by a 904.42 million-share transaction volume in Japaul Gold.
Thursday’s market performance was supported by strong gains in selected financial stocks, with FCMB Group Plc rising 8.55 percent from N11.70 to N12.70.
FCMB also emerged as the most actively traded stock by volume, recording 131.74 million shares worth N1.59 billion.
First HoldCo Plc followed with 43.44 million shares, but dominated the market by transaction value among the five most actively traded equities supplied for the session.
Approximately N5.95 billion worth of FirstHoldCo shares changed hands during the session, indicating continued substantial investor interest in the financial services group.
The trading activity comes after FirstHoldCo attracted significant attention in July following major additional share purchases linked to its chairman and largest shareholder, Femi Otedola.
AVA Capital also remained one of the market’s standout performers, extending the rally that has followed its admission to the Nigerian Exchange.
The stock gained another 9.63 percent on Thursday to N11.95, from N10.90 at the previous close.
AVA Capital was listed by introduction on the Main Board of the NGX on July 31 at N7.50 per share.
At N11.95, the stock has now appreciated by approximately 59.3 percent from its listing price in less than a week.
Investor activity in AVA Capital was also substantial, with 36.32 million shares valued at N432.03 million traded during Thursday’s session.
Eterna Plc led the equity gainers after rising by the maximum 10 percent to N36.30 from N33.00.
Legend Internet advanced 9.52 percent to N4.60, while FCMB followed with its 8.55 percent increase.
Honeywell Flour Mills completed the five leading gainers after appreciating 7.98 percent to N17.60.
Despite the positive close, selling pressure remained significant in several equities.
Fortis Global Insurance declined by the maximum 10 percent to N2.52, while Ecobank Transnational Incorporated fell 9.99 percent to N72.10.
ETI has experienced a particularly sharp reversal since the beginning of August. The stock closed July at N88.95 before falling to N80.10 on August 3 and subsequently to N72.10 on Thursday, representing a decline of approximately 18.9 percent from its July closing level.
Chellarams dropped 9.85 percent to N11.90, while Thomas Wyatt Nigeria declined another 9.83 percent to N3.21.
Thomas Wyatt has now fallen sharply for three sessions reported since the beginning of August after emerging as one of the strongest performers during the final week of July.
The stock ended July at N4.38 following a 20.66 percent weekly gain but subsequently dropped to N3.95 on August 3, N3.56 on August 4 and N3.21 on Thursday.
That represents a decline of approximately 26.7 percent from its July 31 closing price, effectively reversing its late-July rally.
UPDC completed the leading decliners, falling 8.45 percent to N3.25.
Elsewhere, Chams Holding Company recorded 36.26 million shares valued at N149.75 million, while Access Holdings accounted for 24.44 million shares worth N638.76 million.
Activity in exchange-traded products was mixed.
VETINDETF increased by N1 to N135 and VETGRIF30 gained 50 kobo to N109.50.
MERGROWTH declined N1.02 to N142.98, VETBANK dropped N1.87 to N35 and VETGOODS fell N4.78 to N55.10.
In the bond segment, FGS202888 advanced 14.99 percent from N80 to N94.99, while FGS202892 and NMR2033S2 remained unchanged at N100. FGS202913 closed unchanged at N69.99 and NOVA2027S1 remained at N100.
Thursday’s advance adds another positive session to what has so far been an uneven start to August.
The market opened the month with a 0.18 percent gain on August 3 before declining 0.38 percent on August 4.
At 245,209.34, the All-Share Index remains marginally below its 245,283.68 closing level at the end of July, meaning the strong 6.92 percent rally recorded in July has yet to regain momentum in August.
However, Thursday’s performance shows that investors continue to deploy capital selectively, particularly into financial stocks.
The simultaneous 8.55 percent appreciation in FCMB, heavy-value trading in FirstHoldCo and continued rally in newly listed AVA Capital suggest that financial services equities remain central to investor positioning even as the broader market consolidates following July’s strong advance.