Stock Market Opens May Trading With N63bn Gain

The Nigerian equities market yesterday opened the trading for the month of May on a strong note, as investors’ investment grew by N63 billion.

As a result, the All-Share Index gained 881.16 points, representing a gain of 0.36 per cent to close at 243,158.97 points. Also, market capitalisation rose by N63 billion to close at N156.057 trillion.

The upturn was driven by price appreciation in large- and medium-capitalised stocks, including Stanbic IBTC Holdings, Chemical and Allied Products (CAP), BUA Cement, UACN and Dangote Sugar Refinery.

On the market outlook for this week, United Capital Plc said, “the Nigerian equity market is expected to sustain its bullish bias this new week, supported by continued foreign investor interest, elevated oil prices, and improving corporate earnings momentum as the Q1 2026 results season gathers pace. Banking, Building Materials and Oil & Gas stocks are likely to remain in focus, with strong results from leading names capable of driving index gains.

“However, profit-taking at elevated index levels remains a near-term risk, and broader global caution following the Fed’s decision to hold rates and Powell’s hawkish tone could temper foreign participation. Overall, the market is expected to trade positively but with selective momentum, as investors rotate toward value plays and earnings-driven names.”

Market breadth was broadly positive, with 44 gainers outpacing 34 losers. FTN Cocoa Processors and Consolidated Hallmark Holdings emerged as the highest price gainer of 10 per cent each to close at N6.05 and N5.72 respectively, while CAP followed with a gain of 9.99 per cent to close at N159.70 per share.

AIICO Insurance increased by 9.98 per cent to close at N4.74, while Dangote Sugar Refinery added 9.97 per cent to close at N76.65 per share.

On the other side, Nigerian Aviation Handling Company (NAHCO) led others on the losers’ chart with 23.00 per cent to close at N198.65 per share. International Energy Insurance followed with a decline of 9.82 per cent to close at N2.48, while UPDC shed 9.18 per cent to close at N4.45, per share.

Learn Africa lost 9.14 per cent to close at N8.45, while NEM Insurance depreciated by 8.02 per cent to close at N28.10 per share.

Meanwhile, the total volume traded decreased by 24.79 per cent to 1.408 billion units, valued at N57.982 billion, and exchanged in 133,071 deals.