Nigeria’s All-Share Performance For May 12th, 2026
The Nigerian All-Share Index (NGXASI) gained 0.77%, closing at 252,411.67 basis points above its moving average on Tuesday. Given this performance, the index closed 3.31% from its 244,289.06 basis points support level, recording a new all-time high at 252,419.22 basis points in the process.
Top gainers included: UPL (+10%), UHOMREI (+10%), IKEJAHO (+10%), FTNCOCO (+9.97%), and CHAMS (+9.97%)
Top losers included: FTGINSURE (-9.65%), CUSTODIAN (-9.52%), NPFMCRF (-8.33%), AIICO (-7.74%), and HONYFLOUR (-5.41%)
On the daily chart, the NGXASI’s volume, liquidity, and Relative Strength Index (RSI) sustained its bullish sentiment, aligning with the overall market sentiment. However, MACD’s bullish momentum remained low. Given these performances, investors should be prepared for a market correction.
Sectoral Index Performance
NGXBNK: Banking Sector Index
The banking sector continued its bullish rally, reinforcing investors’ appetite, as the index gained 1.87%, closing at 2,478.69bps, extending 3.34% from its current support level. Given this performance, the NGXBNK reached a new all-time high at 2,495.39bps. Notable contributors included ACCESSCORP (+6.85%), WEMABANK (+5.11%), FIRSTHOLD (+4.43%), UBA (+3.55%), and FCMB (+2.64%).
The indicators on the daily chart for the banking sector align with the bullish sentiment. Market volume, momentum, and liquidity regained their strength, reflecting the favourable investment opportunities for market players
NGXCSMG: Consumer Goods Sector Index
The NGXCSMG gained 1.55%, closing at 6,857.22bps. This performance strengthened the index’s bullish rally, moving 4.32% above its support level. In line with this performance, the index reached a new all-time at 6,869.26. Notable contributors included NB (+9.94%), NEIMETH (+9.68%), PZ (+9.55%), UNILEVER (+7.67%), and BERGER (+6.66%)
On the daily chart, the indicators also aligned with the NGXCSMG’s overall bullish sentiment. The market volume, momentum, and liquidity regained their strength, reflecting the sustained investors’ confidence in the sector.
NGXIND: Industrial Sector Index
Following Monday’s divergence from MACD, the industrial sector experienced profit-taking on Tuesday. The index declined by 0.49%, closing at 12,305.33bps, finding a new resistance level at 12,377.33bps. Given this index action, market players will need further performance to determine the sector’s overall sentiment. Notable contributors included CUTIX (-1.56%), BUACEMENT (-1.16%), and WAPCO (-0.29%)
The bearish sentiment was strong enough to weaken the index’s volume, liquidity, and RSI momentum on the daily chart, a pointer that investors still have confidence in this sector. Following the bearish sentiment, MACD’s bullish momentum declined, alerting investors of a potential pullback.
NGXOGSE: Oil and Gas Sector Index
The NGXOGSE gained 3.40%, closing at 6,100.19bps above its moving average as it attempted to surpass its resistance level (6,132.68bps). Thus, investors will wait for further index action to determine the market recovery status.
Following this bullish sentiment market volume, liquidity, and RSI regained their strength. However, MACD’s bearish momentum strengthened. Thus, given the index’s position at the resistance level, another pullback is on the horizon.
NGXINS: Insurance Sector Index
The insurance sector struggled to break its resistance level at 1,246.81bps, declining by 1.40% to close 1,224bps above its moving average. Major companies in this sector are also facing similar resistance as they attempt to surpass their all-time high. Notable contributors in this sector include AIICO (-7.74%), INTENEG (-5.24%), MANSARD (-3.57%), VERITASKAP (-2.99%), and LINKASS (-1.10%).
The indicators on the daily chart remained resilient, despite strong bearish sentiment. MACD and RSI momentum slightly declined, while money flow remained above its threshold (50). Given these performances, the overall market recovery is strong, which offers investment opportunities.
Final Thought
The overall market reflected portfolio rebalancing and selective bargain hunting. Mid-value stocks with good fundamentals are benefiting from this market sentiment. The banking and consumer goods sectors have fully recovered, attempting to commence another strong bull rally. The oil and industrial sector offers mixed sentiment, requiring further index actions. Finally, the insurance sector continues to reveal its potential for a strong bull rally.
