Nigerian Stocks Extend Bull Run as NGX Hits Record High

The Nigerian Exchange (NGX) extended its bullish momentum into the second trading session of the week as the benchmark All-Share Index surged past the 252,000-point threshold, underscoring a period of unprecedented growth in the domestic capital market.

At the close of business on Tuesday, May 12, 2026, the primary market indicator appreciated by 0.77 percent, or 1,926.13 points, to settle at an all-time high of 252,411.67.

This performance further consolidated the market’s aggressive trajectory, pushing the one-week gain to 4.41 percent and a remarkable year-to-date return of 62.2 percent. The persistent buying interest across high-cap equities resulted in the total market capitalization of the exchange hitting N161.6 trillion, approximately 118 billion dollars in value, reflecting heightened investor confidence in the resilience of the Nigerian economy.

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Activity levels on the floor of the exchange presented a mixed bag of metrics as investors recalibrated their portfolios. While the total volume of shares traded saw a 16 percent decline compared to the previous Monday, falling to 1.24 billion units, the total turnover recorded a marginal improvement of 1 percent, closing the day at N69.23 billion.

This suggests that despite a reduction in the number of units exchanged, the value of transactions remained robust, driven primarily by mid-to-large-cap stock movements.

The total number of deals executed during the session stood at 80,798, representing a 15 percent drop from the preceding day. Market breadth closed on a positive note as 133 listed equities participated in active trading, resulting in 43 gainers against 32 losers, signaling a prevailing appetite for risk amidst inflation-hedging strategies.

The consumer goods and real estate sectors emerged as the primary beneficiaries of the day’s price appreciation. Unilever Nigeria led the gainers’ chart with a maximum possible 10 percent appreciation, closing the day at N165.00 per share.

This bullish sentiment was mirrored by Union Homes Real Estate Investment Trust, Ikeja Hotel, and University Press, all of which gained 10 percent respectively. Conversely, the insurance and agro-allied sectors faced significant selling pressure.

Custodian and Allied Investment topped the laggards’ list with a 9.52 percent depreciation to close at N81.25, followed by Honeywell Flour Mill, which lost 8.11 percent, and Aiico Insurance, which shed 7.74 percent of its value. Fortis Global Insurance rounded out the bottom performers with a 7.02 percent decline.

Liquidity remained concentrated within the financial services sector, which continues to act as the market’s powerhouse. United Bank for Africa (UBA) dominated the volume charts, accounting for 203 million shares traded, followed by Fidelity Bank with 81.7 million units.

Despite its presence on the losers’ list, Honeywell Flour Mill saw significant turnover with 72.4 million shares, while Access Holdings recorded a transaction volume of 71.1 million shares. Sectoral indices reflected a broad-based rally, with the NGX Oil and Gas Index leading the surge with a 3.4 percent daily gain, bringing its year-to-date performance to a staggering 128.45 percent.

The NGX Banking Index followed with a 1.87 percent appreciation, while the Pension and Consumer Goods indices gained 1.76 percent and 1.71 percent respectively, highlighting a diversified interest across various segments of the Nigerian economy as the market maintains its record-breaking run.