The Nigerian equities market recorded its strongest weekly performance of 2026, closing the week ended April 17 up 6.57% at 217,167.57, driven by heavyweight oil and gas and banking stocks.
This rally marked a 13,397.14-point surge from the opening level of 203,770.43, as the index crossed the 217,000 threshold for the first time in history.
Year-to-date return climbed to 39.56%, with market capitalization swelling to N139.8 trillion from N131.2 trillion, while trading activity totalled 3.5 billion shares across 254,553 deals.
Market breadth strengthened notably, with 61 stocks in the green, compared to 25 the prior week, while 36 equities declined from 54, and 49 stocks closed unchanged.
What the data is saying
According to trading data, the market traded all five sessions of the week, closing each session in positive territory and reflecting sustained bullish sentiment throughout the period.
- The week opened with a 0.35% gain on Monday to 204,487.8, and by Wednesday, the index had climbed further to 209,323.0 on the back of consistent buying pressure.
- Momentum strengthened on Thursday as the market crossed the 210,000 mark for the first time, closing at 211,900 before extending gains to settle at 217,167 at week’s end.
Across key segments, the NGX Premium Index outperformed the broader market, rising 8.05% as First Holdco surged 22.96%, Access Holdings gained 15.00%, Zenith Bank advanced 12.50%, MTN rose 10.74%, and Seplat climbed 9.42%.
Other notable contributors included Lafarge Africa, up 4.20%, UBA gaining 2.13%, and Dangote Cement rising 1.60%.
The NGX 30 Index and NGX Main Board Index also posted gains of 6.99% and 5.75%, respectively.
Sectoral performance:
The NGX Oil and Gas Index led sectoral performance with a 17.59% surge, driven by strong gains in Aradel, up 28.93%, Japaul Gold rising 10.92%, Seplat advancing 9.42%, and Oando gaining 3.66%.
The NGX Banking Index followed with an 11.85% increase, supported by Ecobank’s 46.30% rally, Stanbic IBTC up 36.63%, First Holdco gaining 22.96%, Access Holdings rising 15.00%, and Zenith Bank advancing 12.50%.
- Other banking stocks also posted gains, with Wema Bank up 4.42%, FCMB rising 3.88%, Fidelity Bank gaining 2.82%, Sterling Financial Holdings advancing 2.61%, and UBA increasing by 2.13%, reflecting broad-based strength across the sector.
The NGX Consumer Goods Index rose 3.39%, while the Industrial Goods Index gained 1.26%, whereas the Insurance Index bucked the trend, declining slightly by 0.04%.
Top gainers
The top-performing stocks for the week were:
- Trans-Nationwide Express Plc: up 60.48% to N6.05
- Ecobank Transnational Incorporated Plc: up 46.30% to N67.30
- Stanbic IBTC Holdings Plc: up 36.63% to N188.55
- Royal Exchange Plc: up 29.37% to N1.85
- Aradel Holdings Plc: up 28.93% to N1,649.00
- First Holdco Plc: up 22.96% to N64.00
- Daar Communications Plc: up 21.33% to N1.82
- Nigerian Aviation Handling Company Plc: up 20.88% to N220.00
- Multiverse Mining and Exploration Plc: up 18.11% to N23.80
- Sovereign Trust Insurance Plc: up 17.30% to N2.17
Top losers
The week’s worst-performing stocks included:
- Coronation Insurance Plc: down 14.38% to N2.50
- Ikeja Hotel Plc: down 14.36% to N33.40
- International Energy Insurance Plc: down 13.80% to N3.06
- Academy Press Plc: down 12.57% to N7.65
- Honeywell Flour Mill Plc: down 11.01% to N19.00
- Berger Paints Plc: down 9.95% to N68.35
- Austin Laz & Company Plc: down 9.77% to N3.60
- Nigerian Exchange Group: down 9.57% to N170.00
- Abbey Mortgage Bank Plc: down 9.50% to N8.10
- E-Tranzact International Plc: down 9.27% to N18.60
Corporate actions overview
The week saw notable corporate disclosures across sectors, reflecting strategic moves and investor-focused updates in the market.
- Sunu Assurance opened its rights issue at N4.50 per share, valued at N2.08 billion.
- Ecobank published its audited FY2025 results, announcing a final dividend equivalent to N2.15 per share.
- CSC proposed a final dividend of N1.78 per share for shareholders.
- Afreximbank released its FY2025 results.
- Chapel Hill Denham’s NDIF reported a N5.3 billion Q1 profit alongside pipeline-led investments.
What you should know
Large-cap stocks played a key role in the rally, helping drive the All-Share Index to its strongest weekly performance of the year so far.
The 217,167.57 index point level marks the highest point ever attained by the Nigerian equities market, underscoring the scale of the recent bullish momentum.
A continued rally in large-cap stocks on the Nigerian Exchange could push the broader index toward the 220,000-mark in the near term.
