The clearest move on the Nigerian Exchange on May 4, 2026 did not come from the heavily traded banks but from Nascon Allied Industries, which surged 17.8% to NGN 210.0. That made it the day’s best performer as cocoa jumped 9.7% to $3,863.0 in global commodity markets, reinforcing a broader re-rating of Nigerian agro-processing and consumer names tied to supply chains and input costs.
That matters because the headline move in the NGX All Share Index was more modest. The benchmark rose 1.13% to 1,655.25, according to verified market data, but market breadth was perfectly split at 40 gainers, 40 losers and 5 unchanged stocks out of 85 tracked names. In other words, this was not a broad-based rally. It was a selective session where a handful of stocks did the heavy lifting.
Key figures
- NASCON +17.8% at NGN 210.0
- NGX ASI +1.13% at 1,655.25
- Cocoa +9.7% at $3,863.0
- USD/NGN 1,369.36, down 0.39%
- NAHCO -22.9% at