Profit-Taking Halts Rally as NGXASI Dips 0.58% Despite Positive Market Breadth; BDC Rate Appreciated to N1,390/US$1
Snapshot
The Nigerian equities market reversed its recent bullish rally on Tuesday, May 5, 2026, as large investor profit-taking actions dragged the benchmark NGX All-Share Index (ASI) down by 0.58% to close at 241,750.15 points, from 243,158.97 points recorded in the previous session.
Market capitalisation fell by N904.40bn to N155.15trn, while the year-to-date (YTD) return slumped to 55.35%, the downtick was largely driven by profit-taking in GUINNESS (-10.00%), WEMABANK (-8.72%), MTNN (-8.63%), ARADEL (-5.81%), BETAGLAS (-4.68%), TIP (-4.41%), FIRSTHOLDCO (-3.77%), WAPCO (-2.21%), ACCESSCORP (-1.96%), UBA (-1.87%), ZENITHBANK (-0.93%), GTCO (-0.71%), CUSTODIAN (-0.17%), and 13 others.
Market sentiment remained positive, with breadth closing in the green as 46 gainers outpaced 26 decliners. RTBRISCOE and VITAFOAM topped the gainers’ chart, while GUINNESS led the decliners. Meanwhile, VITAFOAM, ZICHIS, CAP, DANGSUGAR, and CONHALLPLC traded above their 52-week highs at N170.50, N25.08, N175.65, N84.30 and N6.29, respectively.
The Proshare Memorandum Indexes closed mixed, with the market cap-weighted index up 1.15% to 1,486.77 points from 1,469.82 points in the previous session, while the total return float-adjusted index was down 0.41% to 1,015.99 points from 1,020.21 points.
Volume and Value Contribution
Market activity was down for the day, with total volume traded declined 9.85% to 1.27bn, valued at N75.23bn across 102,665 deals. FCMB recorded the highest volume with 160.59m units traded, accounting for 12.66% of the day’s volume, while GTCO recorded the highest value at N13.09bn, accounting for 17.40% of the value traded for the day. GTCO and ACCESSCORP accounted for 7.42% and 6.45% of total volume, respectively, while MTNN and ZENITHBANK followed GTCO in traded value.
NGX Earnings Summary
Corporate Results
- Morison Industries Plc Audited Financial Statement for the Year Ended 31 Dec 2025 – NGX
- Morison Industries Plc Q1 2026 Financial Statement – NGX
- Ellah Lakes Plc.-Press Release Q1 2026 Unaudited Financial Statements – NGX
NGX Corporate News
- MTN Nigeria Communications Plc AGM Resolutions – NGX
- United Capital Plc Directors’ Dealings – NGX
- United Bank for Africa Plc Notice of Retirement of Non-Executive Director – NGX
- VFD Group Plc Notices of Annual General Meeting – NGX
- Nigerian Exchange Group Plc Resolutions Passed at the 65TH AGM – NGX
- Nigerian Exchange Group Plc Appointment of Substantive Company Secretary – NGX
- Invitation To United Capital Q1 2026 Investors and Analysts Call – NGX
- Royal Exchange Plc 2025 AGM Resolutions – NGX
- Zenith Bank Plc Retirement of Board Chairman – Proshare
For more analysis of the NGX-listed equities, click here.
1.2 NASD OTC Exchange – Unlisted Equities
Conversely, the unlisted NASD Securities Index (NSI) closed bullish on Tuesday, up 0.85% to 4,060.94 points from 4,026.64 points on Monday.
The total volume traded declined to 679,768 valued at N30.96m, across 44 deals.
At the close of trading, the NASD OTC recorded four (4) gainers and one (1) loser.
1.3 Global Indices
The global indices were broadly positive on Tuesday, with Brazil’s Bovespa leading the gainers’ chart. For more updates on the Global scene, click here.
1.4 African Indices
The prices in the African market were relatively favourable today. For the latest data and updates, please click here.
2. Bonds and Fixed-Income Markets
2.1 Debt Market Size
The Debt Market Size was unavailable at the time of publishing this report.
2.2 Overnight and Open Repo (OPR)
The Overnight and Open Repo rates were unavailable while preparing the report.
3.1 AFEX Indices
The AFEX Indices were not available at the time of filing the report. Data on AFEX Indices can be accessed here.
3.2 AFEX Commodity Prices
At the AFEX Commodity prices on Tuesday, most prices were unchanged, while maize decreased 0.19% to close at N309.53. Click here to access more data on AFEX commodity prices.
3.3 LCFE Commodity Price(s)
Eko Gold, Premium Eko Rice, and Eko Rice Classic prices at the Lagos Commodities and Futures Exchange (LCFE) remained unchanged on Tuesday, closing at N140,000.00 per gram, N50,000.00 per 50kg, and N55,000 per 50kg, respectively.
3.4 Global Commodity Prices
In the global commodity market, Gold and Silver increased 1.23% and 0.92%, respectively, to close at US$4,579.52 and US$73.69. Brent and WTI crude futures fell by 2.92% and 4.29%, respectively, to close at US$111.10 and US$101.85 as of 02:39 PM GMT on Tuesday, after the United States launched an operation aimed at reopening the Strait of Hormuz to shipping, although exchanges of fire between the U.S. and Iran limited the decline.
The average BDC rate appreciated 0.72% from N1,400/USD to 1,390/USD, while the NFEM rate depreciated by 0.10% from N1,365.25/USD to N1,366.56/USD. For updates on the Nigerian FX Market, kindly click here.
