Nigerian Stock Market Opens May 2026 with 0.4% Gain

On May 1, 2026, the Nigerian stock market commenced the month on a positive note, with the NGX All-Share Index rising by 0.4%, gaining 881.16 basis points to close at 243,158.97. The market capitalization increased by ₦63 billion, reaching ₦156.057 trillion.

This upturn was primarily driven by price appreciation in large and medium capitalized stocks, including Stanbic IBTC, BUA Cement, and Dangote Sugar Refinery. The insurance sector saw a 1.3% increase, while industrial goods rose by 1.1%, consumer goods by 0.8%, and banking by 0.4%.

The market breadth was broadly positive, with 44 gainers outpacing 34 losers. FTN Cocoa Processors emerged as the highest price gainer at 10%, closing at ₦6.05.

Conversely, Nigerian Aviation Handling Company led the losers with a decline of 23%. Total trading volume decreased by 24.79% to 1.408 billion units, valued at ₦57.982 billion across 133,071 deals.

The outlook for the week anticipates sustained bullish momentum supported by foreign investor interest and improved oil prices.