The Nigerian equities market extended its bullish run on May 11, 2026, gaining 5,709.7 points to close at 250,485.6. This surge was significantly propelled by Dangote Cement, tier-one banks, and other large-cap stocks, which were the primary drivers of the session's gains.
The market's performance represents a 2.33% increase from the previous session's close of 244,775.8 points. This upward movement reflects a stronger investor sentiment coupled with heightened trading activity across the exchange.
Market activity strengthened considerably, with trading volume rising to 1.4 billion shares, a notable increase from the 1.06 billion shares recorded in the preceding trading session. Consequently, market capitalization climbed to N160.2 trillion from N157.02 trillion. The total number of deals executed during the session settled at 94,834.
Trading sentiment remained firmly positive, as the market’s year-to-date return climbed to 60.97%, an improvement from the 57.3% recorded in the previous trading session.
On the gainers' chart, RT Briscoe, Livestock Feeds, FTN Cocoa, Zichis Agro Allied, UHOMREIT, and International Energy Insurance all advanced by 10%. However, bearish sentiment persisted across select counters, with Prestige Assurance and Sovereign Trust Insurance emerging as the major laggards, declining by 10.00% and 9.96%, respectively.
Veritas Kapital led the volume chart with 194.6 million shares traded, followed by Access Holdings at 172.2 million units and First Holdco at 148.9 million units. FCMB also recorded strong activity with a turnover of 123.8 million shares, while Champion Breweries recorded 82.9 million shares.
On the value chart, MTN Nigeria recorded the highest transactions at N12.3 billion, ahead of First Holdco at N11.06 billion. Dangote Cement, Zenith Bank, and GTCO posted turnovers of N7.5 billion, N5.3 billion, and N4.5 billion, respectively.
ETF Market Rebounds
Exchange Traded Funds (ETFs) listed on the Nigerian Exchange (NGX) recorded a broadly positive performance in the week ended May 8, 2026. The SIAML Pension ETF 40 led the gainers after surging 58.78% to N9,349.99, with most tracked ETFs closing in the green.
Data from NGX trading activity shows that both total trading volume and transaction value increased week-on-week, reflecting stronger investor participation and renewed interest in ETF products. The positive performance was widespread, with major funds such as the Stanbic IBTC ETF 30, Lotus Halal Equity ETF, and Vetiva Griffin 30 ETF posting double-digit gains.
The SIAML Pension ETF 40 recorded the strongest gain, rising 58.78% to close at N9,349.99, up from N5,888.48. Its market capitalization rose to N60.31 billion from N37.98 billion. The Stanbic IBTC ETF 30 advanced by 19.75% to close at N4,730, with its market capitalization rising to N27.02 billion from N22.56 billion.
The Lotus Halal Equity ETF also posted a notable gain of 15.74%, closing at N139, as its market capitalization increased to N4.64 billion from N4.01 billion. The Vetiva Griffin 30 ETF climbed 13.38% to close at N109.98, while the Vetiva Industrial ETF gained 12.14% to settle at N157.
Other gainers included the Greenwich Alpha ETF, up 7.86% to N1,121.71, and the Vetiva Consumer Goods ETF, which rose 5.58% to close at N53.
ETF price movements on the NGX may not fully reflect underlying asset values due to thin liquidity, which can cause significant deviations from net asset value (NAV). Sharp price swings are often influenced more by trading activity than by changes in the fundamentals of the underlying assets.
