The Nigerian equities market closed April 2026 on a strong note, rising 20.36%—its best monthly performance so far this year—clearly surpassing February’s already notable 16.60% gain.
Tracked by the NGX All-Share Index, the market advanced from 201,287.9 to 242,277.8, crossing the 240,000-mark for the first time, while total market value climbed to N155.9 trillion.
This growth was not only about rising prices but also stronger investor activity, as more than 16 billion shares were traded, second only to the over 21 billion units recorded in February 2026.
The market has now sustained a five-month winning streak since December 2025, pushing year-to-date returns to 55.69% and bringing it close to its strongest half-year performance since the 64.51% achieved in the second half of 2020.
April’s performance was largely driven by gains in individual stocks, whose strong upward movements lifted their sectors and, in turn, supported the overall growth of the market.
What the data is saying
The NGX Oil and Gas sector emerged as the best performer in April 2026, delivering a strong 39.04% return to investors, with over 591 million shares traded during the period.
- Tracked by the NGX Oil and Gas Index, the sector rose from 4,385.2 points to 6,097.3, crossing the 6,000 mark, supported by gains in key stocks.
- Notably, Aradel Holdings surged 60.63%, while Seplat Energy advanced by 26.32%, driving much of the sector’s performance.
The NGX Industrial Goods sector followed as the second-best performer, gaining 28.50%, and breaking the 11,000-point level for the first time to close at 11,277.2, with over 426 million shares traded.
- This growth was largely driven by cement giants, including Lafarge Africa (59.16%), BUA Cement (27.95%), and Dangote Cement (19.75%).
- Among mid-cap industrial stocks, Chemical and Allied Products rose 45.49%, Beta Glass gained 19.96%, and Berger Paints increased by 7.71%.
The NGX Banking Index ranked third, advancing 22.61%, with trading volume exceeding 7.7 billion shares, highlighting the sector’s strong liquidity and investor interest.
- Among tier-one banks, Ecobank rose 75.22%, Zenith Bank gained 36.22%, First HoldCo advanced 29.30%, GTCO climbed 19.84%, and Access Holdings increased by 4.45%.
- In the tier-two segment, Wema Bank rose 31.15%, Stanbic IBTC gained 23.97%, Fidelity Bank advanced 5.26%, and Sterling increased by 2.00%.
Get up to speed
The NGX Consumer Goods sector was the fourth-best performer in April, gaining 11.31%, with over 622 million shares traded during the period.
- This performance was driven by strong rallies across equities in the sector, including Unilever Nigeria (46.28%), NASCON Allied (38.16%), and Vitafoam (31.27%).
- Other notable gains came from PZ Cussons (28.72%), BUA Foods (21.18%), Guinness Nigeria (17.44%), Dangote Sugar Refinery (9.51%), Nigerian Breweries (7.81%), and Cadbury Nigeria (4.32%).
In contrast, the NGX Insurance sector was the only laggard, declining by 3.65%. Since it is mainly made up of mid- and small-cap stocks, the broader market index was not significantly affected.
What you should know
- The NGX Oil and Gas Index has delivered the strongest year-to-date performance, with a combined four-month return of 128.34%, driven largely by strong gains in Aradel and Seplat.
- Closely following is the NGX Industrial Goods sector, which has returned 98.66% so far, supported by sustained rallies in cement heavyweights such as Lafarge Africa, Dangote Cement, and BUA Cement.
- The NGX Banking sector has posted a year-to-date return of 50.50%, while the NGX Consumer Goods sector has returned a more moderate 22.07% over the same period.
