Market Update For May 25, 2026
The Nigerian equities market extended its positive momentum on Monday, May 25, 2026, as sustained buying interest in selected large-cap and mid-cap stocks outweighed profit-taking activities triggered by the recent market rally. Investors continued to position in fundamentally strong counters across the banking, telecom, energy and industrial sectors, pushing the benchmark index further into positive territory.
The local bourse maintained its upward trajectory despite mixed sentiment in the global financial market, where investors remained cautious over geopolitical developments and declining crude oil prices. Market participants on the Nigerian Exchange appeared focused on attractive valuations, corporate earnings expectations and portfolio rebalancing ahead of the end of the month.
Buying interest in heavyweight stocks such as AIRTELAFRI, OANDO, WEMABANK, FIDELITYBK and ACCESSCORP provided the major support for the market’s advance. The sustained accumulation in these counters reflected continued institutional participation and renewed confidence in stocks with strong earnings prospects and resilient fundamentals.
The banking sector remained one of the major drivers of market performance as investors continued to take positions in tier-one and tier-two banking stocks ahead of anticipated corporate actions and improved earnings outlook. Interest in telecom and energy stocks also strengthened market sentiment, helping the market absorb profit-taking pressure in some recently appreciated equities.
Trading activities, however, closed on a mixed note as turnover volume moderated compared to the previous session, indicating cautious trading despite the bullish close. Analysts noted that the decline in transaction volume suggested selective positioning by investors rather than broad-based aggressive buying. Nonetheless, the positive market breadth confirmed that advancing stocks maintained an edge over decliners during the session.
Meanwhile, developments in the international oil market remained a major focus for investors. Crude oil prices fell sharply on Monday after reports suggested growing optimism over possible progress in peace negotiations between the United States and Iran. Brent crude declined by $6.12 or 5.9% to settle at $97.42 per barrel, while the U.S. West Texas Intermediate crude dropped by $5.72 or 5.9% to $90.88 per barrel.
The decline in oil prices followed reports that negotiators from Iran and the United States were making progress toward a possible agreement aimed at ending the prolonged conflict and restoring stability in the Middle East. Discussions reportedly focused on reopening the Strait of Hormuz, a key global oil shipping route that has faced disruptions amid the crisis.
Market analysts believe easing geopolitical tensions could significantly reduce the risk premium currently embedded in crude oil prices. However, lower oil prices may also create concerns for oil-dependent economies, including Nigeria, particularly with regard to government revenue generation and foreign exchange earnings if the downward trend persists.
Despite the pullback in oil prices, sentiment in the Nigerian equities market remained largely positive as investors continued to focus on domestic market fundamentals and opportunities in undervalued stocks. The resilience of the NGX reflected sustained liquidity in the market and confidence in selected sectors expected to benefit from the current economic environment.
Technical Analysis and Market Outlook
Technically, the Nigerian market maintained a strong bullish structure as the NGX All-Share Index successfully closed above the critical 251,000 psychological threshold. The market’s ability to sustain gains above this level signals continued dominance by the bulls and reinforces the prevailing upward trend that has persisted in recent sessions.
The benchmark index remains firmly above its short-, medium- and long-term moving averages, indicating sustained positive momentum across the broader market. Momentum indicators also remain favourable, although the slower trading volume suggests that investors are becoming more selective in their buying decisions following the strong rally recorded in recent weeks.
The positive market breadth of 35 gainers against 31 losers further supports the current bullish sentiment, even as pockets of profit-taking continue to emerge in some overbought counters. Analysts believe the market could maintain its upward movement if buying interest persists in highly capitalised banking, telecom and energy stocks.
In the near term, investors are expected to monitor macroeconomic developments, crude oil price movements, corporate earnings expectations and policy signals that could influence market direction. Portfolio repositioning ahead of month-end and quarter-end adjustments may also drive volatility in some counters.
However, the sustained inflow into fundamentally strong stocks suggests that the market may continue to witness bargain hunting and strategic accumulation, especially in sectors considered resilient under the current economic conditions. Investors are therefore advised to remain selective and focus on fundamentally sound stocks with strong growth potential and attractive valuations.
At the close of trading, the NGX All-Share Index advanced by 0.57% to close at 251,125.02 points from 249,712.37 points recorded in the previous session, while market capitalisation gained N905.57bn and the year-to-date return strengthened to 61.38%. Market breadth closed positive with 35 gainers against 31 decliners, reflecting improved investor sentiment. AIRTELAFRI topped the gainers’ chart with a 10.00% increase to close at N3,960.00, followed by REDSTAREX which appreciated by 5.87% to N8.30, OANDO gained 4.57% to N78.00, WEMABANK advanced by 1.65% to N13.85, while FIDELITYBK rose 1.06% to close at N19.10. On the losers’ chart, MCNICHOLS led with a decline of 10.00% to N2.25, followed by other profit-taking induced declines across selected counters. Total traded volume declined by 11.58% to 629.42 million shares valued at N40.91bn across 82,434 deals. ACCESSCORP emerged as the most traded stock by volume with 61.29 million shares, accounting for 9.74% of total market volume, while ARADEL dominated the value chart with transactions worth N11.99bn, representing 29.30% of total traded value.
