The standout move on the Nigerian Exchange came from Abbey Mortgage Bank, whose shares jumped 9.8% to 11.25 NGN on Tuesday, June 9, 2026, even as the NGX ASI fell 0.89% to 1,773.4 points. That divergence matters because it points to renewed appetite for niche financial stocks linked to housing demand, at a time when stock-picking is driving returns more than the direction of the broader market.
The session was also more balanced than the headline index decline suggests. Market breadth closed at 31 gainers, 31 losers, and 11 unchanged out of 73 stocks, a near-perfect split that shows the selloff was not broad-based. Instead, the index was dragged lower by a cluster of sharp declines including Guinness Nigeria at -9.2%, Fidson Healthcare at -10.0%, NAHCO at -10.0%, Unilever Nigeria at -10.0%, and Okomu Oil Palm at -10.0%.
Key figures
- Abbey Mortgage Bank: +9.8% to 11.25 NGN
- NGX ASI: -0.89% at 1,773.4