Nigerian Stock Market Hits Historic 250,000 Points as Dangote Cement and Tier-One Banks Drive Rally
The Nigerian equities market extended its bullish momentum on May 11, 2026, breaking new ground as the All-Share Index climbed to an unprecedented 250,485.6 points. This milestone was powered largely by strong performances from heavyweight stocks such as Dangote Cement and major tier-one banks, reflecting renewed investor confidence in the market.
The index rose by 5,709.7 points, representing a 2.33% increase from the previous session’s close of 244,775.8 points. Market capitalization also advanced significantly, rising to N160.2 trillion from N157.02 trillion, as trading activity intensified with 1.4 billion shares exchanged compared to 1.06 billion in the prior session.
Investor sentiment remained strongly positive, pushing the market’s year-to-date return to 60.97%. The rally was broad-based, with the NGX Banking Index up 4.67% and the Industrial Goods index gaining 4.32%, while other sectors including consumer goods and insurance also posted modest gains.
Top gainers were led by stocks such as RT Briscoe, Livestock Feeds, FTN Cocoa, UHOMREIT, and International Energy Insurance, all recording maximum daily gains. However, some counters such as Prestige Assurance and Sovereign Trust Insurance recorded declines, reflecting selective profit-taking amid the broader rally.
Trading activity was heavily driven by high-volume stocks including Veritas Kapital, Access Holdings, and First Holdco, while value trades were led by MTN Nigeria at N12.3 billion. The strong performance of banking stocks—especially within the FUGAZ group—helped sustain market optimism, with First Holdco, GTCO, UBA, Zenith Bank, and Access Holdings all closing higher.
source: Nairametrics