The clearest signal from the Wednesday, June 24, 2026 session on the Nigerian Exchange did not come from the banks. It came from cocoa. FTN Cocoa Processors jumped 8.4% to NGN 8.00 as global cocoa prices surged 9.7% to $4,986.0 a ton, giving investors a fresh reason to reprice one of the few listed Nigerian names with direct exposure to the agricultural commodity theme. That rally unfolded in a market with a split personality. The NGX ASI rose 1.36% to 1,815.89, yet market breadth was weak at 18 gainers, 38 losers and 4 unchanged out of 60 tracked stocks. In other words, the headline index gain masked a session where most stocks actually fell, a pattern that usually points to selective sector rotation rather than broad-based risk appetite.
Key figures
- FTN Cocoa: +8.4% at NGN 8.00
- Cocoa: +9.7% at $4,986.0/ton
- NGX ASI: +1.36% at 1,815.89
- Dangote Cement: -10.0% at NGN 963.0
- BUA Cement: -10.0% at NGN 340.2