Dangote cement, big banks propel Nigerian exchange above 250,000 level

The Nigerian equities market extended its bullish run, gaining 5,709.7 points to close at 250,485.6, with Dangote Cement, tier-one banks, and other large-cap stocks ranking among the session’s major gain drivers.

This represents a 2.33% increase from the previous session’s close of 244,775.8 points, reflecting stronger investor sentiment alongside heightened trading activity.

Market activity strengthened significantly, with trading volume rising to 1.4 billion shares from 1.06 billion shares recorded in the previous trading session.

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Consequently, market capitalization climbed to N160.2 trillion from N157.02 trillion, while the total number of deals executed during the session settled at 94,834.

**What the data is saying **

Trading sentiment remained firmly positive on 11 May 2026, as the market’s year-to-date return climbed to 60.97%, improving from 57.3% recorded in the previous trading session.

On the gainers’ chart, RT Briscoe, Livestock Feeds, FTN Cocoa, Zichis Agro Allied, UHOMREIT, and International Energy Insurance all advanced by 10% to lead the market’s top performers.

Bearish sentiment, however, persisted across select counters, with Prestige Assurance and Sovereign Trust Insurance emerging as the major laggards after declining by 10.00% and 9.96%, respectively.

Veritas Kapital led the volume chart with 194.6 million shares traded, followed by Access Holdings at 172.2 million units and First Holdco at 148.9 million units.

FCMB also recorded strong activity with a turnover of 123.8 million shares, while Champion Breweries recorded 82.9 million shares.

On the value chart, MTN Nigeria recorded the highest transactions at N12.3 billion, ahead of First Holdco at N11.06 billion, while Dangote Cement, Zenith Bank, and GTCO posted turnovers of N7.5 billion, N5.3 billion, and N4.5 billion, respectively.

**Top 5 Gainers **

• Chams — up 10.00% to N3.41
• FTN Cocoa — up 10.00% to N9.13
• International Energy Insurance — up 10.00% to N2.86
• Livestock Feeds — up 10.00% to N8.80
• RT Briscoe — up 10.00% to N16.50

**Top 5 Losers **

• Prestige Assurance — down 10.00% to N1.44
• Sovereign Trust — down 9.96% to N2.26
• University Press — down 9.09% to N4.00
• Ellah Lakes — down 9.05% to N10.05
• Tantalizer — down 7.69% to N4.20

**SWOOTs Performance **

Among stocks valued above one trillion-naira, market sentiment remained broadly positive, with Dangote Cement surging 8.46%, Nigerian Breweries gaining 3.5%, and MTN Nigeria advancing by 2.32%.

BUA Cement also closed higher with a 0.49% gain, while Wema Bank appreciated 1.06% during the trading session.

**FUGAZ Performance **

Performance across the FUGAZ banking group remained strongly bullish, led by First Holdco with a 9.96% gain and GTCO, which advanced by 6.25%.

UBA rose by 5.75%; Zenith Bank appreciated 4.76%, while Access Holdings also posted a 2.12% increase.

**What You Should Know **

The All-Share Index closed at 250,485.6 points, marking the highest level ever attained by the Nigerian equities market.

The market surpassed the 242,700-resistance level reached on 6 May 2026, signalling renewed bullish momentum and stronger investor confidence.

Sectoral performance closed broadly positive, with the NGX Banking Index up 4.67%, Industrial Goods gaining 4.32%, Consumer Goods rising 0.74%, Insurance advancing 0.59%, and Oil and Gas edging higher by 0.03%.