Economy
Stock Market Rises 0.96% as Rush for Banking Stocks Persists
By Modupe Gbadeyanka
Transactions on the floor of the Nigerian Stock Exchange on Monday closed in the green territory as bulls continue to tighten their grip on the market.
At the close of trading activities today, the Nigerian stocks rose by 0.96 percent as bargain hunting persisted.
The rush for banking stocks by investors maintained its momentum with Wema Bank emerging the most active, accounting for 63 million shares traded at N36.2 million.
It was closely followed by GTBank, which transacted 50 million units at N1.8 billion, while Access Bank exchanged 34.5 million shares valued at N345 million.
Furthermore, Transcorp sold 32 million shares worth N58.7 million, while Fidelity Bank traded 31.7 million shares valued at N41.6 million.
However, the volume and value of shares transacted on the floor of the NSE declined on Monday with investors staking N5.7 billion on 483 million shares executed in 5,771 deals in contrast to N6.2 billion staked on 493 million shares transacted in 5,474 deals last Friday.
Analysis of the market indicators showed that the All-Share Index (ASI) increased today by 324.54 points to close at 34,135.10 points, crossing the 34,000 mark for the first time in many months.
In addition, the market capitalisation rose by N112 billion to settle at N11.8 trillion, while the YTD Return increased to 27.02 percent.
Investors’ sentiment remained positive on Monday, with the market closing with 28 stocks appreciating in price against 19 equities, which depreciated. However, only nine stocks remained flat at the close of activities.
On the price movement chart, Dangote Cement topped the gainers’ log with N5 gain to close at N210 per share.
It was trailed by Presco, which progressed by N3.61k to finish at N75.94k per share and International Breweries, which advanced by N2.30k to end at N28.35k per share.
Stanbic IBTC gained N1.45k to finish at N32.45k per share, while Ecobank moved up by N1.2k to wrap the day at N15.35k per share.
At the other end, Mobil suffered the heaviest loss after dropping N13.20k to close at N250.90k per share and was followed by CAP Plc, which shed N3.60k to end at N34.20k per share.
Forte Oil lost N2.77k to close at N52.81k per share, Zenith Bank deflated by 39k to finish at N22.50k per share and Oando weakened by 34k to settle at N8.2k per share.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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