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Article

NGX investors gain N3.3 trillion in bullish week as index hits 250,330 points

Business AM May 17, 2026
Read the original Article page

TL;DR

The NGX All-Share Index rose 2.27% week-on-week to close at 250,330.92 points, pushing market capitalisation to N160.44 trillion from N157 trillion.

Year-to-date returns reached 60.87%, with banking, industrial goods and consumer stocks leading gains; Berger Paints surged 55.57%, SCOA Plc 45.92%, and Daar Communications 42.41% among top performers.

The Financial Services sector dominated trading, accounting for 61.43% of total volume, while late-week profit-taking erased N1.58 trillion of earlier gains on Thursday and Friday combined.

Intelligence

A 60.87% year-to-date return on the NGX is a strong signal that institutional and retail investors are rotating into equities as fixed-income instruments lose relative appeal, a trend that directly affects Nigerian pension fund managers, retail investors, and asset managers making allocation decisions this quarter.

For founders and private companies watching the public markets, sustained momentum in banking and industrial goods stocks could improve sentiment around equity-linked fundraising and IPO appetite on the NGX in the next 6 to 12 months.

Analysts at Cowry Asset Management expect near-term positivity but flag rising volatility as portfolio rebalancing continues, meaning investors should watch for sharper intra-week swings rather than assuming the rally is frictionless.

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