The Nigerian Exchange (NGX) Limited closed the trading session on Tuesday, May 26, 2026, in negative territory as the All Share Index fell by 0.55 percent, driven by widespread sell-offs across major market segments.
This bearish performance was attributed to weak investor confidence and reduced trading activity as market participants positioned themselves ahead of the two-day Sallah holidays on Wednesday and Thursday. Many investors offloaded shares to realize profits and meet holiday obligations.
Banking Stocks Lead Losses
The banking index recorded the steepest decline, shedding 1.83 percent, followed by insurance which lost 1.41 percent, and consumer goods which fell by 0.77 percent. However, the energy and industrial sectors posted marginal gains of 0.14 percent and 0.00 percent respectively.
The All Share Index dropped by 1,386.18 points to close at 249,738.84, down from 251,125.02 in the previous session. Market capitalization declined by N889 billion to settle at N160.094 trillion, compared to N160.983 trillion earlier.
Market breadth was negative, with 18 gainers and 39 losers recorded at the close of trading.
Trading Activity Declines
Investors traded 564.1 million shares worth N27.2 billion across 65,666 deals, a decrease from the previous session which saw 629.4 million units valued at N40.9 billion exchanged in 82,434 deals. This represents declines of 10.38 percent in volume, 33.50 percent in value, and 20.34 percent in the number of deals.
Top Five Decliners
- Dangote Sugar Refinery Plc dropped from N87.00 to N78.30, a decline of 10.00 percent.
- Transcorp Power Plc fell from N272.70 to N245.50, down 9.97 percent.
- The Initiates Plc declined from N30.45 to N27.45, losing 9.85 percent.
- Abbey Mortgage Bank Plc slipped from N6.85 to N6.20, a drop of 9.49 percent.
- Fidelity Bank Plc lost from N23.75 to N21.60, down 9.05 percent.
Top Five Gainers
- Austin Laz & Company Plc rose from N4.00 to N4.40, gaining 10.00 percent.
- McNichols Plc increased from N7.20 to N7.92, up 10.00 percent.
- International Energy Insurance Plc advanced from N3.74 to N4.11, a gain of 9.89 percent.
- Learn Africa Plc rose from N11.65 to N12.75, up 9.44 percent.
- Haldane McCall Plc appreciated from N3.60 to N3.89, gaining 8.06 percent.
Most Traded Stocks by Volume
Access Holdings Plc led trading activity with 80.6 million shares valued at N2.0 billion. Zenith Bank Plc followed with 33.8 million shares worth N4.5 billion. Mutual Benefits Assurance Plc recorded 31.8 million shares valued at N138.9 million. Neimeth International Pharmaceuticals Plc exchanged 22.3 million shares worth N233.0 million, while Sterling Financial Holdings Company Plc traded 22.2 million shares valued at N172.4 million.
In related news, the president of Dangote Group announced plans to raise nearly $2 billion through a private placement for the Dangote Refinery, as preparations for its public listing gain momentum. Investor interest has already exceeded expectations, with requests approaching the $2 billion target.
