The Nigerian equities market wrapped up the first quarter of 2026 in the green, rising 29.35% with total trading volume exceeding 52 billion shares, reflecting strong investor participation.

Tracked by the All-Share Index, the market surged 45,674.8 points, climbing from an opening of 155,612.9 to close at 201,287.8, comfortably surpassing the 200,000-point milestone for the first time.

This marked the best quarterly performance since Q1 2024, when the market returned 39.8%, and represented a six-quarter winning streak after a red Q3 2024.

A closer look shows all three months in Q1 2026 ended positively, with February posting the strongest performance at 16.60%, making it the standout month for the quarter.

Other News

Although March’s 4.39% return was the lowest in the quarter, it demonstrated resilience, considering trading activity declined to just over 15 billion shares compared to over 21 billion in February.

Here are the top 10 stocks that led the performance table in Q1 2026, with Zichis Agro Allied excluded due to its mid-quarter listing and temporary trading suspension.

Nigerian Exchange Group (135.71%)

The Nigerian Exchange Group was the 10th best-performing stock in Q1 2026, surging 135.71% with over 259 million units traded.

  • The stock started the quarter at N70 per share, closed January at N84.50, and then jumped 46.75% in February, breaking N100 for the first time ever.
  • By March, bullish momentum continued, pushing the stock to N165 as investors likely remained confident in the group’s growth prospects.

In February, the group released its 2025 audited results, reporting profit before tax of N15.55 billion, up 14.26%, alongside a final dividend of N2 per share.

Revenue growth drove performance, rising 36% to N22.9 billion, with transaction fees contributing 65.8% and listing fees adding 20.7%, while the company now commands a N1.9 trillion market capitalization.

Infinity Trust Mortgage (171.43%)

Infinity Trust Mortgage ranked 9th among top-performing stocks in Q1 2026, surging 171.43% with about 11 million units traded, closing the quarter at N19.

  • The stock opened the quarter at N7, rose to N9 by January’s end, and then jumped 111.11% in February, closing at N19 and contributing the bulk of its quarterly gains, while March remained mostly flat.
  • The rally accelerated after January 27, 2026, when the company filed its unaudited results on the NGX, reporting a pre-tax profit of N3 billion, up from N1.7 billion in 2024.

Total turnover climbed to N6.6 billion, a 226% increase, driven largely by interest income from mortgage loans, which totaled N5.5 billion.

Year-to-date, the stock carries a market capitalization of N79.2 billion and remains at N19 in April, with further activity expected following its declared final dividend of 35 kobo, payable on May 26, up from 21 kobo the previous year.

NCR (Nigeria) Plc(1773%) 

NCR (Nigeria) Plc held the 8th position among top-performing stocks in Q1 2026, soaring 173.73% with over 6 million units traded, and closed the quarter at N199.

  • The ICT stock opened the quarter at N72.70 and leapt to N199 by January, surpassing N100 for the first time and nearly hitting N200, while February and March remained flat.

This surge built on momentum from Q4 2025, when the stock returned 354% to investors, driven by a turnaround from a nine-month pre-tax loss of N2.6 billion to a pre-tax profit of N237.9 million.

The recovery was fueled largely by strict cost management, especially administrative expenses, which fell from N2.9 billion in 2024—mainly due to foreign exchange losses—to just N91.7 million, likely drawing investor interest.

NCR currently carries a market capitalization of N21.4 billion and remains at N199 in April.

RT Briscoe Plc (175.71%)

RT Briscoe Plc claimed the 7th spot among Q1 2026’s top gainers, climbing 175.71% with over 210 million units traded, closing the quarter at N9.65.

  • The automobile dealer started the quarter at N3.50 per share, jumped 124.6% in January to close at N7.85, and broke through the N4 resistance level.
  • By February, it reached N12.50 before easing back to N9.65 in March.

Investor optimism was likely fueled by strong 2025 financials, with full-year sales rising 41.14% to N40.4 billion and pre-tax profit surging 189.07% to N2.9 billion.

RT Briscoe now carries a market capitalization of N12.3 billion and has added 8.8% month-to-date in April, trading at N10.50.

Deap Capital Management & Trust (200%)

Deap Capital Management & Trust took the 6th spot among Q1 2026’s top performers, soaring 200% with over 793 million units traded, closing the quarter at N5.70.

  • The mining finance firm saw January as its standout month, rising from N1.90 to N9.40—a 394.2% jump—before declines in February and March trimmed the price to N5.70.

Momentum picked up mid-January after the company signed a MoU with Banklink Africa Equity Fund II to support mineral and metal projects across Africa, likely boosting investor confidence. A month later, Deap Capital received N1 billion in fresh capital from Banklink Africa.

The company currently has a market capitalization of N9 billion and trades around N6 in April, up 5.44% month-to-date.

SCOA Nigeria (219%)

SCOA Nigeria held the 5th spot among Q1 2026’s top gainers, surging 219.01% with over 13 million units traded, closing the quarter at N22.65.

  • The conglomerate, active in automobiles, power generation, furniture, and agriculture, had a strong January, jumping 345% from N7.10 to N31.60 per share.

Bullish momentum carried into February, reaching N38.15 before a pullback in March trimmed the quarter-to-date gains, settling the stock at N22.65.

The rally was likely supported by solid 2025 financials: pre-tax profit rose to N723.8 million from N27.1 million, as revenue hit N8.3 billion on equipment sales.

SCOA currently has a market capitalization of N14.7 billion and remains at N22.65 in April, with no change month-to-date.

Red Star Express (223.56%)

Red Star Express finished Q1 2026 as the 4th top performer, soaring 223.56% with over 49 million units traded, closing the quarter at N28.15.

  • The courier and logistics company started the quarter at N8.70, surpassing N20 for the first time, in January 2026.
  • By February, the stock gained over 53% to reach N31.95, before easing back to N28.15 in March.

Investor interest was likely driven by the company’s earnings outlook for January to March 2026, projecting sales of N7.7 billion, up from N6.1 billion in the same period of 2025.

Red Star Express currently holds a market capitalization of N26.8 billion and remains at N28.15 in April, with no change month-to-date.

John Holt (250%)

John Holt emerged as the 3rd top performer in Q1 2026, soaring 250% with over 46 million units traded, closing the quarter at N17.15.

  • The power leasing and motor vehicle sales company recorded gains every month of the quarter, with March standing out, climbing 98.27% and driving the bulk of the quarterly surge.

The stock opened in January at N4.90, rose steadily to N7.30, edged to N8.65 in February, and then broke through the N10 mark in March, ultimately settling at N17.15.

On the final trading day of 2025, John Holt published its unaudited numbers for the financial year ended 30 September 2025, showing N1.4 billion in sales, down from N3.1 billion in 2024.

The company currently has a market capitalization of N6 billion and trades at N15.45 in April, down 9.91% month-to-date.

Premier Paints(275%) 

Premier Paints finished Q1 2026 as the second top-performing stock, soaring 275% with over 16 million units traded, closing the quarter at N37.50.

  • The company had a quiet January with no trading activity, before a modest 10% rise from N10 in February.
  • March became the standout month, with stock spiking to N37.50 on a volume of 15 million units.

Momentum likely followed news from mid-December 2025 that the company’s majority shareholders were in talks with Xenergi Limited over a potential 51% stake acquisition, which would give Xenergi majority control and influence over board appointments.

Premier Paints audited 2025 results, published in late March, showed a strong rebound from a N477,000 loss to a pre-tax profit of N2.4 million, reflecting a turnaround in operations.

The company now has a market capitalization of N4.6 billion and remains priced at N37.50 in April 2026, with flat month-to-date performance.

Fortis Global Insurance (515%) 

Fortis Global Insurance claimed the top spot among Q1 2026 gainers, soaring 515% with over 1 billion units traded, closing the quarter at N1.23.

The stock started the year around N0.20 with a quiet January, before surging 370% in February to N0.94. In March, it broke past the N1 mark for the first time, settling at N1.23.

The rally followed the company’s return to trading on February 4, 2026, after a six-year suspension by the NGX. The ban, which began on July 2, 2019, had frozen the stock due to unfiled financial statements.

Investor enthusiasm drove the price sharply in the days following its reactivation, marking one of the most remarkable comebacks on the exchange.

Company shares are currently priced at N1.23 in April, with a flat month-to-date performance.