Nigeria's equity market and banking stocks rally in June 2026

The Nigerian Stock Exchange closed Friday with the equities market gaining N3.156 trillion, lifting total market capitalisation by 2.19 % to N147.102 trillion and pushing the NGX All‑Share Index up 4 918.37 basis points to 229 240.34. Gains were led by mid‑ and heavyweight stocks such as MTN Nigeria, Zenith Bank, Airtel Africa, GTCO Plc and UBA, while trading volume fell roughly 47 %.

In the banking sector, the combined market capitalisation of 12 listed deposit‑money banks rose to N22.51 trillion in the first half of 2026, buoyed by the Central Bank of Nigeria’s recapitalisation programme and strong earnings. GTCO remained the most valuable banking stock at N4.57 trillion, up from N3.3 trillion a year earlier, and posted a profit before tax of N302.9 billion in Q1 2026. Zenith Bank’s market value climbed to N4.52 trillion with a profit before tax of N360.92 billion. Other banks such as Stanbic IBTC, First Holdco, UBA and Access Holdings also saw market values exceed N1 trillion.