The Nigerian stock market recorded a notable recovery on Thursday, May 21, 2026, as investors gained N72.44 billion in value. This positive turnaround was fueled by renewed buying interest in select large and mid-cap stocks, reversing the previous session's weakness. The consumer goods and banking sectors overcame profit-taking pressure that had emerged after a recent surge, helping the market return to positive territory.
Market Performance
The NGX All-Share Index (ASI) edged up by 0.05% to close at 249,175.39 points, compared with 249,062.37 points recorded in the previous trading session. Consequently, the market capitalization rose by N72.44 billion, bringing the year-to-date return to an impressive 60.13%, reinforcing the ongoing bull run. The gain in market capitalization was largely supported by the uplift of specific stocks such as Unilever, Eunisell, UACN, TIP, and Wema Bank, which contributed to the 14 gainers recorded for the day.
Market Sentiment and Activity
Despite the index's increase, market sentiment remained subdued, as market breadth closed in the negative with 45 decliners against 19 gainers. This suggests that the index's rise was driven by a few market heavyweights, while profit-taking activity continued across other stocks. However, there was a significant improvement in market activity, with total trading volume surging by 76.39% to 1.06 billion shares, worth N30.97 billion, executed in 62,448 deals. Sterling Bank led the market in terms of trading volume with 322.68 million shares (30.48%), while Aradel led in trading value with N5.06 billion (16.35%).
Top Gainers and Losers
Top Gainers
- INTENEGINS rose from N3.10 to N3.41, gaining N0.31 (+10.00%).
- ABC Transport advanced from N8.26 to N9.08, adding N0.82 (+9.93%).
- Unilever increased from N153.00 to N168.00, up N15.00 (+9.80%).
- Academy Press climbed from N7.70 to N8.45, gaining N0.75 (+9.74%).
- Eunisell rose from N191.90 to N209.95, adding N18.05 (+9.41%).
Top Losers
- FGSUK2031S4 fell from N98.99 to N80.00, shedding N18.99 (-19.18%).
- Berger dropped from N164.00 to N147.60, losing N16.40 (-10.00%).
- Learn Africa declined from N13.05 to N11.75, down N1.30 (-9.96%).
- Daar Communications slipped from N2.11 to N1.90, losing N0.21 (-9.95%).
- RT Briscoe fell from N14.20 to N12.79, down N1.41 (-9.93%).
Most Active Stocks
- SterlingNG traded 322.68 million shares worth N2.58 billion.
- JapaulGold exchanged 96.39 million shares valued at N416.15 million.
- Fidelity Bank recorded 57.04 million shares worth N1.33 billion.
- AccessCorp traded 52.23 million shares valued at N1.32 billion.
- Lasaco Assurance exchanged 42.54 million shares worth N86.74 million.
In related news, investors are positioning ahead of the Initial Public Offering (IPO) of the Dangote Group's refinery, with President and Chief Executive Aliko Dangote confirming that the listing is expected to launch in September 2026. Dangote disclosed this during a tour of the refinery complex in Lagos on Wednesday, May 20, alongside chairman Femi Otedola and senior executives of First HoldCo and its subsidiaries.
