Nigerian Stock Market Rebounds After Eid-el-Kabir Holiday, Gains N414 Billion
By Aboki Forex —
The Nigerian equities market snapped its losing streak on Friday, May 29, 2026, as investors returned from the Eid-el-Kabir break with fresh buying interest in large and mid-cap stocks. The benchmark NGX All-Share Index rose by 0.26% to close at 250,385.47 points, up from 249,738.84 points in the previous session.
Market capitalisation gained N414.52 billion, pushing the year to date return to 60.90%. The rally was driven by demand for Aradel Holdings, NEM Insurance, Ikeja Hotel, First Holdco, and Transcorp Power.
Top Gainers and Losers
Sovereign Trust Insurance led the gainers, rising from N2.50 to N2.75, a 10% increase. Zenith Children’s Health climbed from N30.00 to N33.00, also up 10%. International Energy Insurance gained 9.98% to close at N4.52, while McNichols added 9.85% to N8.70. Aradel Holdings jumped 9.59% to N1,933.80.
On the losing side, Chemical and Allied Products dropped 10% to N179.10. Austin Laz fell 10% to N3.96, and Premier Paints declined 10% to N33.75. LivingTrust Mortgage Bank slipped 9.89% to N4.01, while John Holt decreased 9.84% to N16.95.
Market Activity Surges
Trading activity spiked sharply. Total volume rose 113.57% to 1.20 billion shares, valued at N43.43 billion across 93,626 deals. Fidelity Bank was the most traded stock, with 482.9 million shares worth N8.73 billion. Access Holdings followed with 133.3 million shares valued at N3.23 billion. Transnational Corporation recorded 81.7 million shares worth N2.19 billion.
Market breadth remained negative, with 33 decliners against 30 gainers, showing that selling pressure persisted despite the overall index gain.
Dangote Refinery IPO Update
Separately, investors are positioning ahead of the Dangote Group refinery Initial Public Offering, expected to launch in September 2026. Aliko Dangote confirmed that investor interest has already approached $2 billion. He spoke after leading First HoldCo chairman Femi Otedola and senior executives on a tour of the refinery complex in Lagos.