Nigerian equities closed the week ended 15 May 2026 on a positive note, as the All-Share Index advanced 2.27% to settle at 250,330.92, driven by renewed rallies in premium stocks across the exchange.

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The benchmark index gained 5,555.09 points from the previous week’s 244,775.83 close, while the market’s month-to-date return strengthened further to 3.32%.

Trading activity mirrored the bullish momentum, with volume rising to 7.7 billion shares in 402,945 deals from 7.07 billion shares, as market capitalization climbed above N160.4 trillion.

Market breadth remained firmly positive, with 74 gainers surpassing the previous week’s 69, while decliners eased to 24 from 36 and 48 equities closed unchanged.

What the data is saying 

Year-to-date, the Nigerian equities market has remained firmly bullish, with the benchmark index delivering a strong return of 60.87%, while quarter-to-date performance stood at 24.36%.

Market activity during the week reflected a mixed but resilient tone, as investors recorded gains in two of the five trading sessions, with bullish momentum concentrated at the start of the week.

  • The rally accelerated on Monday when the All-Share Index surged by 5,709 points to cross the 250,000 threshold at 250,485.6, before climbing another 0.77% on Tuesday to 252,411.7.
  • However, profit-taking pressure emerged gradually by midweek and intensified toward Friday’s close, dragging the market below the 252,000-mark as the index eventually settled at 250,330.9.
  • Performance across major segments remained broadly positive, led by the NGX Premium Index which advanced 4.39%, driven by gains in UBA (+10%), Access Holdings (+9.11%), Dangote Cement (+8.46%), First Holdco (+3.24%), Zenith Bank (+2.38%), MTN Nigeria (+2.36%) and Lafarge Africa (+2.12%).

Beyond the premium segment, the broader market also sustained positive momentum, with the NGX 30 Index appreciating by 2.02%, while the Main Board Index rose 0.92% over the week.

 Sectoral performance 

The NGX Industrial Goods Index emerged as the week’s best-performing sector, rising 4.66% as major cement manufacturers including Dangote Cement (+8.46%), Lafarge Africa (+2.12%) and BUA Cement (+1.66%) drove the rally.

  • Mid-cap industrial counters also posted impressive gains, with Berger Paints surging 55.57%, Austin Laz & Company advancing 22.42% and Meyer climbing 14.63%.

The Banking Index followed closely behind, up 2.82%, supported by strong performances from Ecobank (+10.68%), UBA (+10.00%), Access Holdings (+9.11%) and Fidelity Bank (+6.26%).

  • Additional support within the banking space came from FCMB Group (+3.51%), First Holdco (+3.24%), Zenith Bank (+2.38%), GTCO (+1.94%), and Wema Bank (+0.15%).

Elsewhere, the NGX Insurance Index advanced 2.74%, reflecting renewed investor appetite in insurance counters, while the NGX Consumer Goods Index appreciated 1.65% during the week.

On the downside, the oil and gas sector closed in negative territory, with the NGX Oil and Gas Index declining 1.19% amid weakness across select energy stocks.

 Top gainers 

The top-performing stocks for the week were:

  • Berger Paints Plc: up 55.57% to N168.95
  • SCOA Plc: up 45.92% to N33.05
  • Daar Communications Plc: up 42.41% to N2.25
  • Fidson Healthcare Plc: up 32.52% to N136.50
  • Learn Africa Plc: up 32.32% to N10.85
  • Mecure Industries Plc: up 30.72% to N94.90
  • Chams Holdings Company Plc: up 29.03% to N4.00
  • Red Star Express Plc: up 27.35% to N31.90
  •  UPDC Real Estate Investment Trust: up 23.70% to N10.70
  • Abbey Mortgage Bank Plc: up 22.69% to N7.30

 Top losers 

The week’s worst-performing stocks included:

  • Zichis Agro Allied Industries Plc: down 11.78% to N29.43
  • The Initiates Plc: down 10.03% to N32.30
  • NPF Microfinance Bank Plc: down 10.00% to N5.76
  • NCR (Nigeria) Plc: down 10.00% to N179.10
  • Custodian Investment Plc: down 9.52% to N81.25
  • Stanbic IBTC Holdings Plc: down 7.91% to N163.00
  • Secure Electronic Technology Plc: down 7.45% to N0.87
  • Prestige Assurance Plc: down 6.25% to N1.50
  • Aluminium Extrusion Industries Plc: down 5.26% to N9.00
  • Tantalizers Plc: down 3.74% to N4.38

Corporate Actions Overview 

The week saw notable corporate disclosures.

  • Abbey Mortgage Bank announced plans to seek shareholder approval for a N164.5 billion capital raise.
  • Fidelity released its audited financial statements for 2025.
  • First Holdco announced it is seeking shareholder approval to raise N253 billion through equity, subject to approval at its 14th AGM.
  • First Holdco also announced share acquisitions by Anil Dua and Femi Otedola.
  • Industrial & Medical Gases declared a N0.50 final dividend.
  • Coronation Infrastructure Fund published its FY2025 results.
  • Seplat Energy confirmed the exchange rate for its FY2025 total dividend at N1,370.89/$.

What you should know 

  • Premium stocks were at the heart of the latest rally, reflecting strong large-cap-driven momentum across the market.
  • However, the All-Share Index now appears stretched in overbought territory, raising the risk of a pullback if sentiment shifts or selling pressure emerges in heavyweight stocks.
  • Even so, investors are still watching the bigger picture, with the market tracking the 64.51% H2 2020 return as 2026’s current 60.87% keeps expectations firm into H1.