News Update

MARKET OVERVIEW & WEEKLY COMMENTARY — 1st–5th JUNE 2026

The NGX week of 1–5 June 2026 was the most broadly negative since the market’s all-time high of 252,508 points on 13 May 2026, as
sustained profit-taking dragged the NGX All-Share Index down 3.11% to settle at 242,593.31 points shedding 7,792 points and erasing
approximately ₦4.91 trillion in market capitalisation. The week also marked the first full trading week under Nigeria’s new T+1 settlement
regime, which commenced on 1 June. Investor sentiment was firmly negative across the first four sessions, with decliners consistently
outpacing gainers before a partial recovery on Friday when 39 stocks advanced against 11 decliners. International Energy Insurance PLC
led the weekly gainers at +60.62% to ₦7.26 a remarkable surge that extended its multi-week run followed by Abbey Mortgage Bank
(+47.24%), Sovereign Trust Insurance (+20.61%), Tantalizers (+18.40%), and Airtel Africa (+10.00% to ₦3,655.70). On the decliners
side, BUA Cement led weekly losses after its maximum -10.00% daily decline on Monday, while Aradel Holdings plunged -9.51% and
Eterna fell -9.85% on Thursday alone dragging the Oil & Gas Index down 4.90% in a single session. Trans-Nationwide Express, John
Holt, and Red Star Express also featured prominently among the week’s decliners.

Naira Gains Ground Against the British Pound

The Nigerian naira strengthened against the British pound during the first week of June, reflecting continued support from the Central Bank of Nigeria’s monetary and foreign exchange management measures. According to official market data, the naira closed at approximately ₦1,823 per pound sterling on June 5, improving from levels above ₦1,840/£ recorded at the beginning …

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MARKET OVERVIEW & WEEKLY DIGEST (25th–29th May 2026)

The NGX week of 25–29 May 2026 was characterised by a significant moderation in gains, with the top gainers posting comparatively modest advances relative to the prior weeks’ spectacular rallies a clear signal that the market is entering a consolidation phase. International Energy Insurance PLC led the gainers at +32.55% to ₦4.52, followed by Sovereign Trust Insurance (+20.61%), which reversed its prior week’s -22.45% decline in a sharp bounce. Tantalizers PLC gained +18.40%, while Airtel Africa surged +10.00% to ₦3,655.70 a notable move for one of the NGX’s highest-priced stocks. NEM Insurance (+9.67%) and Union Dicon Salt (+9.45%) rounded out a week where insurance and consumer staples dominated the gainers. On the decliners side, Dangote Sugar Refinery led losses at -18.22% to ₦71.15 reversing much of its prior-week gain while The Initiates PLC shed -15.98% and CAP PLC continued its retracement at -10.00% to ₦179.10. Transcorp Power (-9.97%) and Fidelity Bank (-9.79%) also featured prominently.

DPH CAPITAL MARKETS DIGEST (18th -22nd May 2026)

The NGX week of 18–22 May 2026 saw a notable shift in market character, with gains concentrated in small-to-mid cap transport,
publishing, and energy names, while the paints sector which had dominated the prior two weeks gave back significant ground. Associated
Bus Company PLC led the gainers at +44.82% to ₦9.08, followed by Academy Press (+29.79%) and University Press (+28.00%)
signalling a rotation into previously overlooked low-cap value names. Zichis Agro Allied Industries resumed its upward trend with a
+14.34% gain to ₦33.65, recovering from the prior week’s consolidation, while Oando PLC gained +11.70% to ₦52.50 as energy stocks
benefited from positioning ahead of the week’s oil price moves. On the decliners side, Sovereign Trust Insurance led losses at -22.45%,
while CAP PLC (-14.85% to ₦199.00) and Berger Paints (-12.64% to ₦147.60) experienced expected profit-taking after their
extraordinary multi-week rallies. Trans-Nationwide Express shed -18.98%.

DMO Opens N600 Billion FGN Bond Re-Opening Auction Amid Elevated Yield Environment

The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, has opened a N600 billion bond re-opening auction scheduled for Monday, May 18, 2026, with yields reaching as high as 22.60%. The offering comprises two previously issued Federal Government bonds across the 10-year and 20-year tenor segments, reinforcing the government’s continued reliance …

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Nigeria’s Fixed Income Market Delivers Strong Sovereign Returns in Q1 2026

Nigeria’s fixed-income market recorded some of its strongest sovereign yield performances in recent years during the first quarter of 2026, before a gradual easing cycle began to moderate returns across the yield curve. A review of primary market auction data from the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) shows that …

Nigeria’s Fixed Income Market Delivers Strong Sovereign Returns in Q1 2026 Read More »

DPH CAPITAL MARKETS DIGEST (11th–15th May 2026)

The NGX week of 11–15 May 2026 saw a powerful rotation into paints, media, healthcare, and real estate names, with Berger Paints PLC leading the gainers at +55.57% to ₦168.95 extending the paints sector re-rating that began with CAP PLC the prior week. SCOA Nigeria PLC surged +45.92%, while Daar Communications (+42.41%) and Fidson Healthcare (+32.52%) signalled broadening market breadth across consumer and healthcare names. Learn Africa (+32.32%), Mecure Industries (+30.72%), and Chams Holding (+29.03%) rounded out a diverse top ten. On the decliners side, Zichis Agro Allied Industries led losses at -11.78% to ₦29.43 a natural pullback after three consecutive weeks of extraordinary gains totalling over 170%. The Initiates PLC (-10.03%) and NPF Microfinance Bank (-10.00%) also featured, while Stanbic IBTC Holdings continued to face selling pressure at -7.91% to ₦163.00.

DPH CAPITAL MARKETS DIGEST (4th–8th May 2026)

The NGX week of 4–8 May 2026 was headlined by exceptional gains in paints, agro-allied, and consumer staples, with CAP PLC surging +60.95% to ₦233.70 the standout performer of the week and the strongest gain by a large-cap industrial in recent months. Zichis Agro Allied Industries extended its remarkable multi-week run with a further +53.17% gain to ₦33.36, while FTN Cocoa Processors jumped +50.91%. RT Briscoe (+40.98%), Dangote Sugar Refinery (+33.43%), and Berger Paints (+32.84%) rounded out a week dominated by consumer-facing and industrial names. On the decliners side, Nigerian Aviation Handling Company (NAHCO) led losses at -20.95%, followed by Guinness Nigeria (-18.99%) and Access Holdings (-12.59%). MTN Nigeria shed -12.45% to ₦801.10, reflecting profit-taking in the telecoms sector after recent strength.

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