By Oluyinka Onigbinde
Nigeria’s stock market sustained its bullish momentum on Friday as the benchmark NGX All-Share Index rose to 250,117 points, reflecting renewed investor confidence and continued positive sentiment in the equities market.
Market data obtained by Shipping Position Daily showed that the index gained 0.15 per cent from the previous trading session, extending the market’s impressive performance in recent months.
The latest figures indicate that the Nigerian equities market has appreciated by 3.24 per cent over the past one month, while recording a remarkable year-on-year growth of 123.83 per cent. ([Trading Economics][1])
The development further underscores the sustained rally on the Nigerian Exchange (NGX), with investors continuing to take positions in major banking, industrial, telecommunications and consumer goods stocks.
Data from market trackers showed that the NGX All-Share Index recently touched historic highs above the 250,000-point threshold, reflecting one of the strongest market rallies in recent years. ([Trading Economics][1])
Analysts attribute the market surge to increased institutional participation, banking sector recapitalisation expectations, improved corporate earnings, and growing investor appetite for equities amid prevailing macroeconomic conditions.
Top capitalised stocks including MTN Nigeria, Dangote Cement, BUA Foods, Zenith Bank and Guaranty Trust Holding Company continue to play major roles in driving overall market performance. ([Trading Economics][1])
Although some bellwether stocks recorded mild profit-taking during Friday’s trading session, the broader market remained positive, reflecting sustained investor optimism in the domestic equities market.
Historically, the Nigerian stock market recently attained an all-time high above 254,000 points earlier in May 2026, highlighting the rapid growth trajectory witnessed since the beginning of the year. ([Trading Economics][1])
Financial analysts say the continued rally demonstrates improving confidence in the Nigerian capital market despite concerns surrounding inflationary pressures, foreign exchange volatility and high interest rates.
They however warned that profit-taking activities and market corrections may still emerge intermittently as investors rebalance portfolios after the prolonged rally.
Meanwhile, market watchers believe sustained reforms within the financial sector, stronger corporate earnings, and improved macroeconomic stability will remain critical in determining whether the bullish momentum can be maintained in the coming months.
The Nigerian Exchange remains one of Africa’s fastest-growing equities markets in 2026, with increasing local investor participation contributing significantly to market liquidity and valuation growth.
