The Nigerian equities market advanced by 785.83 points to close the Easter week ended April 2, 2026, at 201,698.89, as gains in MTN and GTCO sustained momentum.
This represents a modest week-on-week increase of 0.39% from the previous close of 200,913.06, bringing the total market capitalization of the All-Share Index to N129.8 trillion.
Trading activity was relatively subdued as the market operated for only four sessions, with a total of 2.8 billion shares valued at N113.5 billion exchanged in 215,287 deals, lower than the prior week’s 3.9 billion units.
Market breadth weakened, as 29 equities recorded price gains compared to 47 in the previous week, while 57 stocks declined, up from 45, and 62 equities closed unchanged.
What the trading data is saying
According to data from the Nigerian Exchange, the market’s year-to-date return climbed to 29.62%, while month-to-date performance for April stands at a modest 0.20%.
The market closed positively in two of the four trading sessions during the week, as Friday was declared a public holiday in observance of the Easter celebration.
Trading opened on a weak note on Monday, with the index shedding 428.6 points but holding above the 200,000 mark to close at 200,484.4.
Momentum rebounded on Tuesday with an 803.3-point gain, remained positive on Wednesday with a 0.21% rise, before easing slightly by 4.7 points on Thursday to settle at 201,698.9.
Across key segments, performance was mixed, with the Premium Index rising 1.59% driven largely by a 5.85% gain in MTN Nigeria, while the NGX 30 Index advanced 0.54% and the Main Board Index dipped 0.29%.
Sectoral performance
On the gainers’ side, the NGX Banking Index led the market, rising 0.71% as GTCO advanced 5.08% and FCMB recorded a modest 0.42% gain.
The NGX Oil and Gas Index posted a marginal increase of 0.02%, supported by gains in Eterna, which rose 3.41%, and Japaul Gold, up 2.94%.
On the flip side, the NGX Insurance Index recorded the steepest decline, shedding 4.25%, reflecting broad-based sell-offs across the sector.
This was followed by losses in the NGX Consumer Goods Index, which fell 1.74%, and the NGX Industrial Goods Index, which dipped slightly by 0.24%.
Top gainers
The top-performing stocks for the week were:
- Multiverse Mining and Exploration Plc: up 20.66% to N20.15
- UPDC Real Estate Investment Trust: up 15.49% to N8.20
- International Energy Insurance Plc: up 12.54% to N3.32
- Austin Laz & Company Plc: up 10.47% to N4.43
- Unilever Nigeria Plc: up 10.00% to N103.40
- Trans-Nationwide Express Plc: up 9.65% to N2.84
- Learn Africa Plc: up 9.41% to N9.30
- Cadbury Nigeria Plc: up 9.05% to N68.70
- Nigerian Aviation Handling Company Plc: up 8.85% to N189.95
- Eunisell Interlinked Plc: up 7.63% to N169.95
Top losers
The week’s worst-performing stocks included:
- Secure Electronic Technology Plc: down 21.54% to N1.02
- John Holt Plc: down 18.47% to N15.45
- May & Baker Nigeria Plc: down 16.57% to N35.00
- Aluminium Extrusion Industries Plc: down 16.27% to N10.55
- Legend Internet Plc: down 16.00% to N6.30
- Consolidated Hallmark Holdings Plc: down 13.04% to N4.40
- NPF Microfinance Bank Plc: down 11.74% to N6.09
- Fortis Global Insurance Plc: down 10.87% to N1.23
- Africa Prudential Plc: down 10.39% to N13.80
- Guinea Insurance Plc: down 10.16% to N1.15
Corporate actions overview
The week saw several corporate disclosures across sectors, reflecting updates relevant to investors.
- UH REIT and SFS REIT published their audited financial statements for the 2025 year.
- Large-cap companies, including BUA Foods, GTCO, and Wema Bank, also released their audited 2025 results.
- Other companies that filed audited FY2025 statements were Abbey Mortgage Bank, Beta Glass, VFD Group, Etranzact, Skyway Aviation, and Berger Paints.
- Insurance companies NEM Insurance, Coronation Insurance, and Consolidated Hallmark submitted their audited results.
- Agro-processing firms FTN Cocoa and Ellah Lakes reported losses in their FY2025 audited statements.
- Fidson Pharmaceuticals published its audited 2025 financial statements as well.
What you should know
Apart from contributions from mid-cap stocks, the major drivers of the week’s gains were MTN Nigeria and GTCO.
- MTN currently has a market capitalization of N15.9 trillion, representing 12.3% of the Exchange, while GTCO, with a size of N4.4 trillion, accounts for 3.4% of the Exchange.
- With the market now at 201,698.9 points, it appears overbought, and a potential retracement in these rallying stocks could trigger a short-term dip in the index.
