The Nigerian equities market started the month on a positive note, with the All-Share Index closing in the green on Monday, 4th May 2026, up 883.71 points to settle at 243,161.52.
This represents a 0.36% gain from the previous trading session’s close of 242,277.81, extending the market’s steady upward momentum.
Market capitalisation also improved, rising to N156.05 trillion for the first time, with total traded volume recorded at 967.4 million shares.
Among this, Zenith Bank and Aradel led value traded with N8.4 billion and N6.7 billion respectively, while VFD Group topped volume charts with 255.3 million units exchanged.
What the data is saying
Trading sentiment remained broadly bullish on 4 May 2026, with the year-to-date return strengthening further to 56%, up from 55.69% ahead of the session.
This suggests sustained investor appetite, as buying momentum continued to outweigh short-term profit-taking across key counters.
- On the gainers’ chart, FTN Cocoa and Consolidated Hallmark Insurance led advances, each appreciating by 10.00% during the trading session.
- However, selective sell-offs also emerged, with International Energy Insurance and UPDC declining by 9.82% and 9.18%, respectively.
In terms of activity, VFD Group dominated volume traded with 255.3 million shares, followed by Access Holdings at 204 million and Fidelity Bank at 79.5 million units.
Value traded was led by Zenith Bank at N8.4 billion, followed by Aradel at N6.7 billion, Access Holdings at N5.2 billion, with MTN Nigeria and GTCO recording N4.7 billion and N3.7 billion respectively.
Top 5 Gainers
- FTN Cocoa — up 10.00% to N6.05
- Consolidated Hallmark — up 10.00% to N5.72
- Chemical & Allied Products — up 9.99% to N159.70
- Dangote Sugar — up 9.97% to N76.65
- McNichols — up 9.97% to N7.39
Top 5 Losers
- International Energy Insurance — down 9.82% to N2.48
- UPDC — down 9.18% to N4.45
- Learn Africa — down 8.06% to N8.55
- NEM Insurance — down 8.02% to N28.10
- VFD Group — down 7.08% to N10.50
SWOOTs
Among stocks worth over one trillion naira (SWOOTs), performance was mixed, with buying interest concentrated in select names while others faced mild selling pressure.
- International Breweries led the gainers, rising 4.96%, followed by BUA Cement, which added 2.61%, and Nigerian Breweries, up 0.32% on the session.
- On the flip side, Wema Bank declined 2.49%, while Lafarge Africa slipped slightly by 0.29%, reflecting pockets of profit-taking within the segment.
FUGAZ performance
In the FUGAZ group, sentiment was also uneven, as GTCO gained 3.70% and UBA edged up 0.12%.
However, losses weighed on the rest of the group, with Access Holdings down 5.56%, First Holdco shedding 3.48%, and Zenith Bank easing 0.84% by close.
What you should know
The All-Share Index’s rise to 243,161.5 marks the highest level ever recorded on the Nigerian equities market, highlighting the strength of the ongoing rally.
- With a year-to-date return of about 56%, the index is now approaching the 64.51% gain recorded in the second half of 2020, if current momentum continues through H1 2026.
At this level, the market appears overbought, raising the possibility of a mild or deeper pullback if selling pressure spreads into large-cap stocks that have driven the recent rally.
