May 03, (THEWILL) — Trading on the Nigerian equities market closed the week on a positive note as strong buying momentum pushed key market indicators higher despite a shortened trading week.
The market opened for four trading sessions this week after the Federal Government declared Friday, May 1, 2026, a public holiday to commemorate Workers’ Day.
During the week, a total turnover of 4.842 billion shares valued at ₦287.756 billion was recorded on the floor of Nigerian Exchange Group. This represents a notable increase compared to the 3.805 billion shares worth ₦213.955 billion traded in the previous week, reflecting heightened market participation.
Activity across sectors was largely dominated by the Financial Services Industry, which led the activity chart by volume. The sector recorded 3.755 billion shares valued at ₦124.398 billion, contributing 77.56 percent and 43.23 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 177.009 million shares valued at ₦30.853 billion, while the Services Industry placed third with 176.809 million shares worth ₦4.387 billion.
Trading activity was heavily concentrated in a few banking stocks. The top three equities by volume Access Holdings Plc, United Bank for Africa Plc, and Wema Bank Plc jointly accounted for 2.026 billion shares valued at ₦60.036 billion. Together, these transactions contributed 41.85 percent of total equity turnover volume and 20.86 percent of total value traded during the week.
The market closed the week on a bullish trajectory as the All-Share Index (ASI) and market capitalisation appreciated by 7.33 percent, settling at 242,277.81 points and ₦155.994 trillion respectively.
Most sectoral indices also recorded gains during the week. However, a few indices finished lower. The NGX Consumer Goods Index, NGX Banking Index, NGX Insurance Index, NGX AFR Bank Value Index, NGX MERI Value Index, and NGX Sovereign Bond Index declined by 0.80 percent, 5.52 percent, 1.13 percent, 5.80 percent, 3.31 percent, and 0.26 percent respectively.
Market breadth remained mixed but relatively stable. A total of 52 equities appreciated in price, higher than 46 recorded in the previous week. Meanwhile, 53 equities depreciated, unchanged from the previous week, while 41 equities closed flat, compared with 47 recorded previously.
Top 5 Gainers
ZICHIS AGRO ALLIED INDUSTRIES PLC 39.62 percent (N15.60 to N21.78).
THE INITIATES PLC 33.04 percent (N23.00 to N30.60).
U A C N PLC 27.82 percent (N142.00 to N181.50).
BUA CEMENT PLC 24.78 percent (N335.00 to N418.00).
CAP PLC 22.53 percent (N118.50 to N145.20).
Top 5 Decliners
UNITED BANK FOR AFRICA PLC -22.27 percent (N55.00 to N42.75).
ROYAL EXCHANGE PLC -20.00 percent (N1.70 to N1.36).
TRANS-NATIONWIDE EXPRESS PLC -18.99 percent (N7.90 to N6.40).
DEAP CAPITAL MANAGEMENT & TRUST PLC -14.49 percent (N4.90 to N4.19).
FIRST HOLDCO PLC -13.80 percent (N75.00 to N64.65).
Activity in the bond segment slowed during the week. A total of 153,656 units valued at ₦156.875 million were traded, compared with 442,785 units worth ₦445.832 million recorded in the previous week.
Investor sentiment remained cautiously optimistic, supported by increased trading volume and strong gains in select industrial and consumer stocks. While profit-taking in some banking equities tempered broader advances, sustained demand across key sectors suggests that investors are gradually repositioning their portfolios in anticipation of corporate earnings releases and evolving macroeconomic developments.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
