The Nigerian Exchange Group (NGX) report for May 29th, 2026, showed that the All-Share Index (ASI) appreciated by 0.27% to close at 250,385.47, with market capitalisation rising to ₦160.509 trillion. This gain reversed the marginal 0.25% decline recorded the preceding week, leaving the market unchanged over the two weeks.
Sectoral performance remained mixed. The NGX Oil & Gas index led the performance with a +2.53% increase, marking a year-to-date rise of 123.94%. However, the NGX Banking Index fell by -2.43%, erasing its prior week gain of +1.11%. Additionally, the NGX Consumer Goods and Growth indices also closed lower at -1.52% and -1.04%, respectively, with the market showing that more stocks fell than rose (51 down versus 34 up).
The report indicates that the Nigerian stock market is proceeding cautiously, maintaining strong gains made earlier in the year, although trading is slowing. Investors are also reallocating their funds towards energy and commodity stocks, while banking stocks are experiencing selling and growing caution. To keep this growth going and spread it beyond just a few strong sectors, policymakers should focus on keeping the exchange rate stable, being consistent with interest-rate policy, and strengthening the rules that protect investors.
