The Nigerian Exchange (NGX) extended its bullish run on Friday, 8 May 2026, closing at a record-breaking high as strong investor demand across major stocks lifted the market to unprecedented levels.
The All-Share Index (ASI) advanced by 4,936.03 points to close at 244,670.65, representing a 2.1% increase from the previous close of 239,734.62. The strong performance reflects sustained positive sentiment in the equities market, with investors continuing to increase positions in both large-cap and mid-cap stocks.
Market capitalization also surged significantly, rising from N153.85 trillion to N157.02 trillion as investor wealth expanded alongside the broader market rally. Trading activity remained robust, with over 1.06 billion shares exchanged across 69,996 deals during the session.
The rally was largely fueled by aggressive buying interest in heavyweight counters, while several stocks also hit the Nigerian Exchange’s maximum daily gain threshold of 10%. Among the standout performers were Cadbury, Neimeth, LivingTrust Mortgage, MeCure, and Dangote Cement, all of which recorded the maximum allowable daily appreciation.
Market data showed that investor optimism pushed the year-to-date return of the Nigerian equities market to 57.3%, underlining the strength of the ongoing bullish momentum.
Neimeth, Cadbury, LivingTrust Mortgage, MeCure, and Dangote Cement jointly topped the gainers’ chart after each posting a 10% increase in share price. Dangote Cement’s strong rally was particularly notable, as renewed interest in large-cap industrial stocks helped drive the broader market upward.
Despite the overall positive sentiment, some counters came under selling pressure. UACN and Industrial & Medical Gases led the losers’ chart after both declined by 10%, while Eterna, Learn Africa, and Deap Capital also recorded notable losses during the trading session.
In terms of trading volume, Access Holdings emerged as the most actively traded stock with 104.4 million shares exchanged. It was followed closely by VFD Group with 103 million shares and FCMB with 99.7 million units traded. UBA and Veritas Kapital also recorded heavy trading activity, reflecting sustained investor participation in the banking and financial services sector.
On the value chart, MTN Nigeria led transactions with trades worth N7.3 billion, followed by Zenith Bank at N6.5 billion and Dangote Cement at N5.9 billion. Transcorp Power and Aradel Holdings also attracted strong investor interest, posting transaction values of N4.9 billion and N4.3 billion respectively.
Among Nigeria’s trillion-naira stocks, commonly referred to as SWOOTs, sentiment remained largely positive. Dangote Cement led the group with a 10% gain, while Ecobank advanced by 9.11% and BUA Cement rose by 6.71%. Wema Bank, International Breweries, and Nigerian Breweries also closed higher.
However, a few heavyweight stocks ended the session in negative territory. Dangote Sugar declined by 2.41%, while MTN Nigeria slipped by 1.71% despite leading the market in transaction value.
Within the FUGAZ banking category, investor sentiment remained upbeat. First HoldCo recorded the strongest gain with a 9.98% rise, followed by GTCO which gained 3.60%. Zenith Bank and Access Holdings also closed positively, while UBA ended the session unchanged.
The closing index level of 244,670.65 now stands as the highest ever recorded in the history of the Nigerian equities market, marking a major milestone for the NGX. Analysts attribute the rally largely to sustained buying momentum in large-cap stocks, improved investor confidence, and increased institutional participation.
Having successfully broken above the previous 242,000 resistance level established earlier in the week, market analysts believe the NGX could extend gains beyond the 245,000 mark if bullish sentiment in heavyweight counters continues in the coming sessions.
