…Dangote Cement Plc led the rally among heavyweight industrial stocks with an 8.5% weekly gain, while BUA Cement Plc rose by 4.1%
…Seventy-four equities appreciated in price during the week, higher than sixty-nine equities in the previous week
FRI MAY 15 2026-theGBJournal| The Nigerian stock market sustained its remarkable upward momentum this week, recording a seventh consecutive week of gains.
Investors continued aggressive positioning in blue-chip counters across the industrial, banking, and consumer goods sectors drove the market performance.
Renewed buying interest in bellwether stocks such as DANGCEM (+8.5%), BUACEMENT (+4.1%), MTNN (+2.4%), ETI (+10.7%), UNILEVER (+21.4%), and UBA (+10.0%) lifted overall market sentiment and pushed key performance indicators to new record territory.
At the close of trading, the benchmark All-Share Index (ASI) advanced by 2.3% week-on-week to settle at 250,330.92 points, underscoring sustained investor confidence despite lingering macroeconomic uncertainties. Market Capitalization rose 2.13% to N160.444 trillion.
Similarly, all other indices finished higher with the exception of NGX Oil & Gas, NGX Sovereign Bond and NGX Commodity which depreciated by 1.19%, 0.08% and 0.80% respectively.
The latest rally further strengthened the market’s positive trajectory, with the month-to-date return climbing to 3.3%, while year-to-date gains expanded sharply to an impressive 60.9%.
Market breadth remained firmly positive as institutional and retail investors increased exposure to fundamentally strong counters, particularly within the cement and banking sectors, which continued to dominate trading activity.
Dangote Cement Plc led the rally among heavyweight industrial stocks with an 8.5% weekly gain, while BUA Cement Plc rose by 4.1%, reinforcing bullish sentiment in the construction and infrastructure-linked segment of the market.
In the telecommunications space, MTN Nigeria Communications Plc gained 2.4% amid renewed investor appetite for defensive and high-cashflow stocks.
Trading activity also strengthened considerably during the week, signaling broader market participation and deepening liquidity.
Total trading volume rose by 18.4% week-on-week, while the total value of transactions climbed by 24.3%, suggesting that institutional investors continued to drive market momentum through large-volume trades in high-capitalisation equities.
Sectoral performance reflected the broad-based nature of the rally. The Industrial Goods Index emerged as the strongest performer, gaining 4.7% on the back of sustained interest in cement manufacturers.
The Banking Index followed with a 2.8% increase, while the Insurance and Consumer Goods indices appreciated by 2.7% and 1.6%, respectively. However, the Oil & Gas Index bucked the positive trend, declining by 1.2% as profit-taking activities weighed on select energy counters.
Overall, Seventy-four equities appreciated in price during the week, higher than sixty-nine equities in the previous week. Twenty-four equities depreciated in price, lower than thirty-six equities in the previous week, while forty-eight equities remained unchanged, higher than forty-one recorded in the previous week.
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