The Nigerian Exchange (NGX) ended the last week of May on a positive trajectory, recording a 0.27 percent gain despite a shortened three-day trading session due to the Eid el-Adha public holidays declared by the Federal Government on May 27 and 28, 2026.
Market Activity Overview
During the week, a total of 2.398 billion shares valued at N111.480 billion were exchanged in 241,313 deals. This represented a decline compared to the previous week, which saw 3.875 billion shares worth N161.757 billion traded in 334,745 deals.
The Financial Services Industry dominated trading activity, accounting for 1.656 billion shares valued at N48.229 billion in 94,812 deals. This sector contributed 69.07 percent and 43.26 percent of the total equity turnover volume and value, respectively.
The Services Industry followed with 265.448 million shares worth N4.530 billion traded in 19,443 deals, while the ICT Industry ranked third with 101.848 million shares valued at N9.163 billion traded in 24,858 deals.
Fidelity Bank Plc, Access Holdings Plc, and The Initiates Plc were the top three most traded equities, with a combined 903.681 million shares valued at N19.227 billion in 22,238 deals. These three stocks accounted for 37.69 percent and 17.25 percent of total equity turnover volume and value.
Index and Market Capitalization
The NGX All-Share Index and market capitalization both increased by 0.27 percent, closing at 250,385.47 points and N160.509 trillion, respectively. Market sentiment was mixed, with 34 equities advancing and 38 declining during the week. A total of 51 equities closed lower, 53 remained unchanged, and 61 gained value.
Top Gainers for the Week
- International Energy Insurance Plc: +N1.11
- Sovereign Trust Insurance Plc: +N0.47
- Tantalizers Plc: +N0.76
- Airtel Africa Plc: +N332.30
- NEM Insurance Plc: +N2.90
- Union Dicon Salt Plc: +N2.05
- McNichols Plc: +N0.70
- VFD Group Plc: +N0.85
- UPDC Real Estate Investment Trust: +N0.70
- Consolidated Hallmark Holdings Plc: +N0.40
Top Decliners for the Week
- Dangote Sugar Refinery Plc: -N15.85
- The Initiates Plc: -N5.40
- Premier Paints Plc: -N3.75
- CAP Plc: -N19.90
- Transcorp Power Plc: -N27.20
- Abbey Mortgage Bank Plc: -N0.70
- John Holt Plc: -N1.85
- Regency Assurance Plc: -N0.11
- Fidelity Bank Plc: -N2.30
- FTN Cocoa Processors Plc: -N0.95
Dangote Refinery IPO Update
In related news, investor interest is building ahead of the Dangote Group refinery's Initial Public Offering (IPO), with President and Chief Executive Aliko Dangote confirming the listing is expected to launch in September 2026. Dangote disclosed this after leading chairman Femi Otedola and senior executives of First HoldCo and its subsidiaries on a tour of the refinery complex in Lagos on May 20. He noted that investor interest has already approached $2 billion even before the offer opens.
