Nigeria's stock market rally extends as turnover and volume slump
Updated
Updated · Business Insider Africa · May 5
Nigeria's stock market rally extends as turnover and volume slump
10 articles · Updated · Business Insider Africa · May 5
The All-Share Index rose 0.36% to 243,158.97 on 4 May, lifting 2026 gains to 56.26%, while turnover fell to N43.8 billion and volume to 967.8 million shares.
Deals increased 32% to 121,784, suggesting smaller trades, as industrial stocks gained 1.08% on the day and more than 100% year to date, while banking shares faced profit-taking.
With 39 gainers and 41 losers, the rally is narrowing as investors rotate sectors. Despite weaker activity, Nigeria's equities remain among 2026's strongest performers, supported by inflation hedging and earnings growth.
As foreign funds eye Nigeria, which stocks are poised to become the biggest winners?
Is Nigeria's stock market rally a true success story or a high-inflation illusion?