The Nigerian equities market maintained its impressive bullish momentum on Monday, May 12, 2026, as the All-Share Index (ASI) broke through the historic 250,000-point milestone for the first time.
The benchmark index rose by 2.33% to close at 250,485.54 points, pushing the year-to-date return to 60.97%. This strong performance translated into a massive N3.17 trillion gain in market value for investors.
According to data from the Nigerian Exchange Limited (NGX), equity market capitalisation expanded from N157.09 trillion to N160.26 trillion, while the total market capitalisation across all segments reached N215.89 trillion.
Strong Trading Activity and Broad Participation
Trading volume increased significantly by 30.82% to 1.51 billion shares, with the value of transactions rising 17.23% to N70.10 billion executed in 95,093 deals. Market sentiment was overwhelmingly positive, with 56 stocks closing higher against 21 decliners, resulting in a strong market breadth.
Key stocks driving the rally included RT Briscoe, FTN Cocoa Processors, and Livestock Feeds, alongside heavy interest in banking heavyweights and telecommunications giant MTN Nigeria.
The most actively traded stocks by value were MTN Nigeria, First HoldCo, Dangote Cement, Zenith Bank, and GTCO, which dominated market turnover.
Year-to-date trading volume on the equities segment has now reached N3.37 trillion, with average daily turnover standing at a healthy N38.74 billion.
Analysts’ View
Commenting on the sustained rally, David Adonri, Vice Chairman of Highcap Securities, attributed the positive performance to improving investor confidence and strong liquidity in the market.
“The market is responding positively to improving investor sentiment and increased participation from both institutional and retail investors,” Adonri said. “We are also seeing renewed confidence in the resilience of listed companies and expectations of stronger corporate performance, which continue to support bullish activity on the Exchange.”
The latest surge underscores the resilience of the Nigerian capital market amid ongoing economic reforms and reflects growing domestic investor appetite for fundamentally strong stocks despite mixed signals in other asset classes.
With the ASI now firmly above the 250,000 psychological level, market watchers will be monitoring whether this momentum can be sustained in the coming sessions.
