The Nigerian Exchange (NGX) staged an impressive recovery on Tuesday, July 28, 2026, as investors added approximately ₦481.18 billion to the market’s value, reversing the previous session’s losses. The rally was fueled by renewed buying interest in insurance stocks and several blue-chip companies, signaling that investor confidence remains strong despite recent bouts of profit-taking. By the close of trading, the benchmark NGX All-Share Index (ASI) climbed 0.30% to 247,984.55 points, while total market capitalization rose to ₦159.99 trillion, bringing the market within touching distance of the ₦160 trillion milestone.
Insurance companies emerged as the clear winners of the day, driving the market’s upward momentum. LASACO Assurance topped the gainers’ chart with a 10% jump to ₦2.20, while LINKASSURE and SUNU Assurance followed closely with gains of 9.93% and 9.88%, respectively. The bullish sentiment spread beyond the insurance sector as investors also snapped up shares of HBM Nigeria, Dangote Sugar Refinery, and Guinness Nigeria, helping to offset declines in selected industrial and transport stocks. The broad-based buying reflected growing optimism that fundamentally strong companies continue to offer attractive investment opportunities.
Trading activity also remained robust throughout the session. Investors exchanged 637.96 million shares worth ₦57.20 billion across 71,240 deals, representing a 3.81% increase in trading volume compared to the previous trading day. Access Holdings recorded the highest volume of shares traded with 87.54 million units, while HBM Nigeria dominated the value chart with transactions totaling ₦6.83 billion. Positive market breadth further reinforced the bullish mood, as 34 stocks advanced against 24 losers, highlighting sustained buying interest across multiple sectors.
Sector performance painted an encouraging picture for the market, with the Insurance Index leading all sectoral gains after rising 2.33%. It was followed by the Industrial Index, Consumer Goods, Banking, and Oil & Gas sectors, all of which closed in positive territory. However, some stocks faced selling pressure as investors locked in profits following recent rallies. Meyer Plc, Mecure Industries, ABC Transport, C&I Leasing, and HMCALL were among the day’s biggest losers, illustrating that selective profit-taking remains part of the current market cycle.
The latest rebound suggests investors are increasingly rotating their portfolios toward quality stocks with strong fundamentals, particularly within the insurance, industrial, and consumer goods sectors. Although the market remains below the record levels reached in May—before a correction erased more than ₦13 trillion in market value—the renewed momentum indicates confidence is gradually returning. With market capitalization now approaching the ₦160 trillion mark once again, analysts believe continued positive corporate earnings and sustained investor interest could provide further support for the Nigerian equities market in the coming weeks.
source: nairametrics
