The Nigerian Exchange (NGX) recorded mixed sentiment during a holiday-shortened trading week, with 52 stocks advancing and 53 declining. The market operated for four days as the Federal Government declared Friday, May 1, 2026, a public holiday to mark Workers' Day.
Market Activity and Turnover
A total turnover of 4.842 billion shares worth N287.756 billion was traded in 332,453 deals, representing an increase from 3.805 billion shares valued at N213.955 billion exchanged in 297,202 deals during the previous week. The financial services industry led activity by volume, accounting for 3.755 billion shares worth N124.398 billion in 146,938 deals, contributing 77.56% and 43.23% to total equity turnover volume and value, respectively.
The consumer goods industry followed with 177.009 million shares worth N30.853 billion in 36,609 deals, while the services industry ranked third with 176.809 million shares valued at N4.387 billion in 15,310 deals. Trading in the top three equities—Access Holdings Plc, United Bank for Africa (UBA) Plc, and Wema Bank Plc—accounted for 2.026 billion shares worth N60.036 billion in 39,925 deals, contributing 41.85% and 20.86% to total equity turnover volume and value.
Market Breadth and Sentiment
Market breadth weakened slightly, as 52 equities gained, compared to 46 in the previous week. A total of 53 equities declined, unchanged from the prior week, while 41 equities remained unchanged, down from 47 recorded previously. Profit-taking weighed on sentiment, with UBA, First HoldCo, and International Breweries leading the decliners.
Top Decliners
- United Bank for Africa Plc: N55.00 to N42.75 (-N12.25, -22.27%)
- Royal Exchange Plc: N1.70 to N1.36 (-N0.34, -20.00%)
- Trans-Nationwide Express Plc: N7.90 to N6.40 (-N1.50, -18.99%)
- Deap Capital Management & Trust Plc: N4.90 to N4.19 (-N0.71, -14.49%)
- First HoldCo Plc: N75.00 to N64.65 (-N10.35, -13.80%)
- Access Holdings Plc: N31.30 to N27.00 (-N4.30, -13.74%)
- Haldane McCall Plc: N3.97 to N3.43 (-N0.54, -13.60%)
- International Breweries Plc: N14.00 to N12.10 (-N1.90, -13.57%)
- Neimeth International Pharmaceuticals Plc: N9.55 to N8.30 (-N1.25, -13.09%)
- E-Tranzact International Plc: N17.05 to N15.00 (-N2.05, -12.02%)
Top Gainers
- Zichis Agro Allied Industries Plc: N15.60 to N21.78 (+N6.18, 39.62%)
- The Initiates Plc: N23.00 to N30.60 (+N7.60, 33.04%)
- UACN Plc: N142.00 to N181.50 (+N39.50, 27.82%)
- BUA Cement Plc: N335.00 to N418.00 (+N83.00, 24.78%)
- CAP Plc: N118.50 to N145.20 (+N26.70, 22.53%)
- Livestock Feeds Plc: N6.50 to N7.95 (+N1.45, 22.31%)
- Aradel Holdings Plc: N1,679.90 to N2,024.00 (+N344.10, 20.48%)
- Beta Glass Plc: N498.50 to N598.00 (+N99.50, 19.96%)
- Industrial & Medical Gases Nigeria Plc: N36.00 to N42.90 (+N6.90, 19.17%)
- Lafarge Africa Plc: N294.90 to N350.00 (+N55.10, 18.68%)
Despite strong trading activity, overall market sentiment remained subdued as profit-taking offset gains in select stocks. Financial stocks, particularly Access Holdings, UBA, and Wema Bank, drove volume but also experienced declines. The NGX continues to reflect cautious investor behavior amid mixed economic signals.
