Nigeria Stocks Add $2.6 Billion as NGX Index Jumps 2.33% to 250,485.54
Updated
Updated · Business Insider Africa · May 12
Nigeria Stocks Add $2.6 Billion as NGX Index Jumps 2.33% to 250,485.54
3 articles · Updated · Business Insider Africa · May 12
Summary
$2.6 billion was added to Nigeria’s market value on Monday as the NGX All-Share Index climbed 5,709.71 points to 250,485.54, lifting its 2026 gain to 60.97%.
N68.39 billion in turnover across 1.49 billion shares and 94,675 deals underscored the rally, with volume up 42% from Friday and gainers outnumbering losers 62 to 17.
Banking and industrial shares drove the advance: the NGX Banking Index rose 4.67% and the Industrial Index 4.32%, helped by bank recapitalisation efforts and demand for inflation-beating returns amid naira volatility.
Market capitalization reached N160.3 trillion, about $117 billion, as investors positioned for corporate earnings, capital raises and further revenue gains from high inflation.