The Nigerian stock market kicked off trading for the month of May on a positive note, recording a gain of N63 billion as investor confidence strengthened. The bullish start reflects renewed interest in equities, with investors positioning themselves ahead of expected corporate earnings and broader economic signals.
At the close of trading, the Nigerian Exchange All-Share Index rose by 881.16 points, representing a 0.36 per cent increase to settle at 243,158.97 points. Similarly, market capitalisation climbed by N63 billion to close at N156.057 trillion, reinforcing the upward momentum seen at the start of the new trading month.
Market performance was largely driven by gains in key large- and mid-cap stocks, including Stanbic IBTC Holdings, Chemical and Allied Products, BUA Cement, UACN, and Dangote Sugar Refinery. Their price appreciation helped lift the overall index, signaling strong demand for fundamentally sound companies.
Looking ahead, analysts at United Capital Plc expect the market to maintain its positive outlook in the near term. They attribute this to sustained foreign investor interest, elevated global oil prices, and improving corporate earnings as companies release their Q1 2026 results. However, they also cautioned that profit-taking at higher levels and global monetary policy concerns, particularly from the U.S. Federal Reserve, could moderate market participation.
Market activity remained relatively strong despite a dip in trading volume. A total of 1.408 billion shares valued at N57.982 billion were exchanged in 133,071 deals, though this marked a 24.79 per cent decline in volume. On the gainers’ chart, FTN Cocoa Processors and Consolidated Hallmark Holdings led with 10 per cent gains, while AIICO Insurance and Dangote Sugar also posted strong increases. Conversely, Nigerian Aviation Handling Company topped the losers’ chart, alongside International Energy Insurance, reflecting mixed sentiment across sectors despite the overall market gain.