NGX Closes Week Up 0.27% Despite Shortened Trading Session

The Nigerian Exchange ended the week on a positive note, gaining 0.27% despite a shortened three-day trading session. The Federal Government declared May 27 and 28, 2026 public holidays for the Eid el-Adha ceremony, limiting activity on the floor.

Financial Services stocks dominated activity. 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.

Total turnover for the week stood at 2.398 billion shares valued at N111.480 billion, exchanged in 241,313 deals. This was a drop from the previous week’s 3.875 billion shares valued at N161.757 billion traded in 334,745 deals.

Financial Services Leads Activity

The Financial Services Industry led activity 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. 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 were the top three traded equities. They traded a total of 903.681 million shares valued at N19.227 billion in 22,238 deals, contributing 37.69% and 17.25% to total equity turnover volume and value, respectively.

Market Capitalisation Rises

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. 34 equities advanced while 38 declined during the week. 51 equities closed lower, 53 remained unchanged, and 61 gained value.

Top gainers included 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), and Consolidated Hallmark Holdings Plc (+N0.40).

Top losers included 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), and FTN Cocoa Processors Plc (−N0.95).

Dangote Refinery IPO Interest Surges

Investors are positioning ahead of the Initial Public Offering of the Dangote Group’s refinery. President and Chief Executive Aliko Dangote confirmed that the listing is expected to launch in September 2026. He 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, investor interest in the refinery IPO has skyrocketed, approaching $2 billion even before the offer is open.