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The Nigerian Exchange – NGX resumed its upward trajectory on May 6, 2026, as the All-Share Index advanced by 0.41% to close at 242,729.5 points. This recovery was underpinned by a significant rebound in market capitalization, which rose to N155.7 trillion from the previous session’s N155.1 trillion.

Investor confidence appeared bolstered by heightened trading activity, with total volume climbing to 1.4 million units across over 85,000 deals, pushing the year-to-date return to a robust 55.98%.

Airtel Africa emerged as the star performer of the session, hitting the maximum daily gain of 10.00% to close at N3,323. This bullish momentum was further supported by strong showings in the “Stocks Worth Over One Trillion” – SWOOTs category, where Dangote Sugar and Wema Bank posted gains of 8.42% and 5.44%, respectively.

Despite this, the market faced some resistance from bearish pressure in select counters, notably Sunu Assurances and Guinness, which both shed approximately 10% of their value.

In terms of market participation, CWG stood out as the undisputed leader in both volume and value. The tech firm dominated the activity chart with 421.6 million units traded, translating to a massive turnover of N8.8 billion.

Other heavyweights like MTN Nigeria and Zenith Bank also saw significant liquidity, though the banking sector – FUGAZ showed a mixed performance; while First HoldCo and Zenith Bank trended upward, UBA and Access Holdings experienced slight pullbacks.

Broadly, sectorial performance remained green across Insurance, Banking, Consumer Goods, and Industrial Goods, with the Oil and Gas index being the lone laggard. While the market is currently hovering just below the 243,000-point threshold, analysts maintain a cautious outlook.

The current levels suggest the market may be in overbought territory, meaning further bullish momentum will likely depend on whether the index can decisively break the recent high of 243,161.