The Nigerian All-Share Index closed higher on Wednesday, May 13, 2026, gaining 0.04% to settle at 252,508.2 index points. This represented a 96.5-point increase from the previous close of 252,411.7.
Market activity saw 1.6 billion units traded, with total market value reaching N161.8 trillion, up from N161.6 trillion. The year-to-date return on the market rose to 62.27%.
First HoldCo was the most active stock, leading both volume and value charts. The company recorded 575.1 million shares traded, accounting for N44.4 billion in transaction value.
In a significant development, Olufemi Otedola, chairman of First HoldCo Plc, acquired an additional 549,535,653 units of the company's shares for approximately N43.41 billion. This transaction, executed at an average price of N79 per share, increased his stake to 8,604,850,139 units, representing 19.35% of the company's equity.
Otedola's shareholding has now risen from 8,055,314,486 units reported in the FY 2025 audited accounts. He is now the second-largest shareholder, behind RC Investment Management Ltd, which holds a 23.47% stake.
Following Otedola's acquisition, trading activity for First HoldCo on May 13 surpassed 575 million shares, marking the highest volume in 2026 and an increase from the 148 million units traded on May 11.
Other notable companies in terms of trading volume included Access Holdings with 172.7 million shares and UBA with 172.6 million shares. Fidelity Bank posted 103.4 million shares, and Wema Bank followed with 74.7 million shares.
In terms of value, MTN Nigeria followed First HoldCo with N18.5 billion, while NGX Group, UBA, and Aradel recorded N10.1 billion, N7.2 billion, and N6.2 billion, respectively.
Earlier, First HoldCo had announced its intention to seek shareholder approval to raise N253 billion at its Annual General Meeting on May 29, 2026. This capital raise aims to strengthen its balance sheet and target a N1 trillion capital base through various methods including share issuance and private placement.
Among other market movers, Daar Communications, Fidson, Livestock Feeds, and CWG each saw a 10% gain. Conversely, NCR (Nigeria) and Zichis Agro-Allied experienced declines of 10.00% and 9.99%, respectively.
