Equities Closes Last Week of May Positive As Market Cap Hit N160.5trn
- The Nigerian Exchange ended the week on a positive note, gaining 0.27% despite a shortened three-day trading session
- Financial Services stocks dominated activity, while Airtel Africa, International Energy Insurance and Sovereign Trust Insurance led the gainers’ table
- Dangote Sugar Refinery, The Initiates Plc, CAP Plc and Transcorp Power Plc topped the losers’ chart amid mixed market sentiment
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange (NGX) had only three trading days this week as the Federal Government declared May 27 and 28, 2026 public holidays to observe the Eid el-Adha ceremony.
The week recorded a total of 2.398 billion shares valued at N111.480 billion exchanged in 241,313 deals, which was a drop from the 3.875 billion shares valued at N161.757 billion exchanged in 334,745 deals the previous week.
Source: Getty Images
How the market performed
The Financial Services Industry led activity on the floor with a turnover of 1.656 billion shares valued at N48.229 billion traded in 94,812 deals. It accounted for 69.07% and 43.26% of total equity turnover volume and value, respectively.
Trading in the Services Industry followed with 265.448 million shares worth N4.530 billion traded in 19,443 deals, while the ICT Industry occupied the third position with a turnover of 101.848 million shares valued at N9.163 billion traded in 24,858 deals.
Fidelity Bank Plc, Access Holdings Plc and The Initiates Plc, in terms of the top three traded equities, traded a total of 903.681 million shares valued at N19.227 billion in 22,238 deals.
These contributed 37.69% and 17.25% to total equity turnover volume and value, respectively.
The NGX All-Share Index and market capitalisation both gained 0.27% to close at 250,385.47 points and N160.509 trillion, respectively.
Market sentiments were mixed as 34 equities advanced while 38 declined during the week. 51 equities closed lower, while 53 remained unchanged and 61 gained value.
Advancers
- International Energy Insurance Plc (+N1.11)
- Sovereign Trust Insurance Plc (+N0.47)
- Tantalizers Plc (+N0.76)
- Airtel Africa Plc (+N332.30)
- NEM Insurance Plc (+N2.90)
- Union Dicon Salt Plc (+N2.05)
- McNichols Plc (+N0.70)
- VFD Group Plc (+N0.85)
- UPDC Real Estate Investment Trust (+N0.70)
- Consolidated Hallmark Holdings Plc (+N0.40)
Source: Getty Images
Decliners
- Dangote Sugar Refinery Plc (−N15.85)
- The Initiates Plc (−N5.40)
- Premier Paints Plc (−N3.75)
- CAP Plc (−N19.90)
- Transcorp Power Plc (−N27.20)
- Abbey Mortgage Bank Plc (−N0.70)
- John Holt Plc (−N1.85)
- Regency Assurance Plc (−N0.11)
- Fidelity Bank Plc (−N2.30)
- FTN Cocoa Processors Plc (−N0.95)
5 steps to buy refinery shares as Dangote confirms IPO date
Earlier, Legit.ng reported that Investors are positioning ahead of the Initial Public Offering (IPO) of the Dangote Group’s refinery, with President and Chief Executive, Aliko Dangote, confirming that the listing is expected to launch in September 2026.
Dangote disclosed this during an interaction with journalists after leading chairman Femi Otedola and senior executives of First HoldCo and its subsidiaries on a tour of the refinery complex in Lagos on Wednesday, May 20.
According to him, even before the offer is open, investor interest in the refinery IPO has skyrocketed, approaching $2 billion
Source: Legit.ng
