Insurance stocks lift NGX as investors gain N481bn

Investors in the Nigerian stock market gained N481 billion on Tuesday as renewed demand for insurance stocks lifted the market ahead of the July 31 insurance recapitalisation deadline.

The rally, which was also supported by gains in consumer goods and banking stocks, pushed the Nigerian Exchange Limited (NGX) market capitalisation up by 0.30 per cent to N159.992 trillion, from N159.511 trillion recorded on Monday, July 27, 2026.

The All-Share Index (ASI) also rose by 745.81 points, or 0.30 per cent, to close at 247,984.55, against 247,238.74 in the previous session.

The market’s year-to-date return improved to 59.36 per cent, while market breadth remained positive with 35 gainers against 24 losers.

Insurance stocks dominated the gainers’ chart, accounting for 10 of the 35 advancing equities.

Lasaco Assurance led the gainers with a 10 per cent appreciation to close at N2.20 per share, followed by Trans-Nationwide Express and Linkage Assurance, which gained 9.93 per cent each to close at N3.10 and N1.66, respectively.

Sunu Assurance advanced by 9.88 per cent to N3.56, while Critical Minerals Financing Corp. appreciated by 9.86 per cent to N3.79 per share.

Petrol depot prices drop by up to N23/litre

On the losers’ chart, Meyer shed 9.97 per cent to close at N16.70, while Mecure Industries declined by 9.94 per cent to N56.20.

ABC Transport lost 9.93 per cent to close at N6.35, C&I Leasing fell by 8.66 per cent to N5.80, and Haldane McCall dropped 8.21 per cent to N3.02 per share.

Trading activity also improved as investors exchanged 676.92 million shares valued at N36.43 billion in 55,412 deals.

Access Holdings Plc led the activity chart by volume with 87.54 million shares, representing 12.93 per cent of the total volume traded.

By value, HBM Nigeria Plc topped the chart with transactions worth N6.83 billion, accounting for 18.74 per cent of the day’s total turnover.