NGX Closes Lower Ahead of Sallah Break as Sell-Offs Hit Major Sectors
By Aboki Forex —
The Nigerian Exchange (NGX) Limited closed lower on Tuesday, May 26, 2026, as weak investor sentiment triggered widespread sell-offs. The All Share Index dropped by 0.55% to settle at 249,738.84 points, down from 251,125.02 in the previous session.
Market capitalisation fell by N889 billion to N160.094 trillion, from N160.983 trillion. The bearish mood was driven by reduced trading activity as investors positioned themselves ahead of the two-day Sallah holidays on Wednesday and Thursday.
Many participants offloaded shares to realise profits and meet obligations during the break. The banking index led the decline, shedding 1.83%, while insurance lost 1.41% and consumer goods fell by 0.77%. The energy and industrial sectors bucked the trend, rising by 0.14% and 0.00% respectively.
Market breadth was negative with 18 gainers and 39 losers. Total trading volume dropped by 10.38% to 564.1 million units, while value declined by 33.50% to N27.2 billion. The number of deals also fell by 20.34% to 65,666.
Top Losers
Dangote Sugar Refinery Plc led the losers, falling by 10.00% to close at N78.30. Transcorp Power Plc dropped 9.97% to N245.50. The Initiates Plc declined by 9.85% to N27.45. Abbey Mortgage Bank Plc slipped 9.49% to N6.20. Fidelity Bank Plc lost 9.05% to close at N21.60.
Top Gainers
Austin Laz & Company Plc gained 10.00% to close at N4.40. McNichols Plc rose 10.00% to N7.92. International Energy Insurance Plc advanced 9.89% to N4.11. Learn Africa Plc gained 9.44% to N12.75. Haldane McCall Plc appreciated 8.06% to N3.89.
Most Traded Stocks
Access Holdings Plc led activity with 80.6 million units valued at N2.0 billion. Zenith Bank Plc traded 33.8 million units worth N4.5 billion. Mutual Benefits Assurance Plc recorded 31.8 million units valued at N138.9 million. Neimeth International Pharmaceuticals Plc exchanged 22.3 million units worth N233.0 million. Sterling Financial Holdings Company Plc traded 22.2 million units valued at N172.4 million.
In related news, Dangote Group president Aliko Dangote said the company is targeting nearly $2 billion through a private placement for the Dangote Refinery, ahead of its planned public listing. Dangote made the disclosure on Wednesday, May 20, while hosting Femi Otedola, chairman of First HoldCo, and other executives at the refinery complex in the Lekki Free Trade Zone. He noted that investor interest has already exceeded expectations.