The Nigerian Exchange ended May 2026 in positive territory, recording a 3.35 per cent gain despite posting its slowest monthly growth since the beginning of the year.
The market, tracked by the All-Share Index, advanced from 242,277.8 points at the start of the month to close at 250,385.7 points. Trading activity remained strong, with more than 18 billion shares exchanged during the period.
The latest performance extended the market’s winning streak to five consecutive months. Equity capitalisation also rose significantly, reaching N160.5 trillion compared with N99.3 trillion recorded at the beginning of 2026.
Year-to-date, the equities market has delivered a return of 60.90 per cent, while second-quarter performance stood at 24.39 per cent ahead of the close of June trading.
The market finished higher in three of the four trading weeks in May, with the strongest rally recorded during the second week before momentum slowed toward the end of the month.
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Sector performance was led by the industrial goods segment. The NGX Industrial Index gained 8.60 per cent, driven largely by a 21.65 per cent increase in Dangote Cement and a modest rise in BUA Cement. Other industrial stocks, including Berger Paints, Meyer and Chemical & Allied Products, also recorded strong gains.
The insurance sector followed with a 6.45 per cent increase, supported by advances in several counters, including Sovereign Trust Insurance, Consolidated Hallmark, Prestige Assurance, and Sunu Assurances. Investor interest remained broad across the sector throughout the month.
The NGX Banking Index rose 3.37 per cent, helped by gains in Ecobank, First Holdco, Fidelity Bank, FCMB, UBA, and other major banking stocks.
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Consumer goods stocks also posted positive returns. The NGX Consumer Goods Index advanced 1.06 per cent, supported by strong performances from Vitafoam, McNichols, Unilever, Nigerian Breweries, and International Breweries.
The oil and gas sector was the only major segment to close lower during the month. The NGX Oil and Gas Index declined by 1.93 per cent as losses recorded by Aradel and Seplat outweighed gains in Oando, Japaul Gold, and Eterna.
Although May’s gain was lower than April’s 20.36 per cent rally, the market maintained its upward trend and closed above the 250,000-point mark, preserving its bullish outlook for the year.
