The Nigerian equities market delivered an outstanding performance in April 2026, with total market capitalization rising to N155.9 trillion as the market returned 20.36% over the month.
Opening at 201,287.9 points, as tracked by the All-Share Index, the market advanced on strong trading activity exceeding 16 billion units to close at a record 242,277.8 points.
The rally was driven by solid participation across mid- and large-cap stocks, with April’s traded volume second only to February’s 21 billion units, while surpassing its 16.6% return.
A defining feature of April’s performance was the strong showing of large-cap, trillion-naira companies among top gainers, in contrast to March when mid-cap stocks dominated the top 10.
The market has now sustained a five-month winning streak since December 2025, pushing first-half returns to 55.69% and nearing the 64.51% achieved in the second half of 2020.
Among the stocks that powered the rally, several equities stood out, earning spots among the top 10 best-performing companies for the month.
Chemical & Allied Products Plc ranked 10th among April’s top performers, delivering a 45.49% return on the Nigerian Exchange, with more than 34 million shares traded during the month.
- The stock opened at N99.80 and gained momentum in the penultimate week, breaking a N109 resistance level set in February before surging 22.53% in the final week to close at N145.2.
This was likely driven by stronger financial performance, as the company declared a N4 dividend for FY2025 in late March 2026, up from N2.4 in FY2024, following pretax profit growth to N9.1 billion from N6.06 billion.
The earnings growth was largely driven by stronger paint sales, with revenue reaching N44.8 billion, while momentum continued into Q1 2026 as pretax profit rose 39.71% year-on-year to N2.3 billion.
Year-to-date, the company has returned over 131% on the Nigerian Exchange, with its share price climbing further to N159.7, reflecting sustained investor interest.
