Nigerian Exchange Hits Record Highs With 57% Year-To-Date Return

The Nigerian Exchange Limited experienced a sustained rally from June 8 to June 10, 2026, pushing the All-Share Index to a record close of 244,852.21 points and extending year-to-date returns to 57.35 percent. Total market capitalization rose steadily from 156.11 trillion naira on Monday to 157.042 trillion naira by Wednesday.

Trading on June 8 was characterized by a bullish session where the Oil and Gas Index led gains and Dangote Cement dominated transaction value. The momentum accelerated on June 9, as banking stocks drove the index to a then-record 244,697.62 points. Airtel Africa led the day's gains with a 10 percent increase, while institutional investors focused on portfolio rebalancing and financial sector recapitalization.

By June 10, investors gained an additional 99 billion naira, although market breadth turned negative with decliners outnumbering advancers. Throughout this period, high interest rates and the use of equities as a hedge against inflation fueled institutional inflows and pension fund allocations. United Capital Plc noted that the market would likely maintain a mildly positive bias as investors sought fundamentally strong stocks amidst broader macroeconomic developments.