The Nigerian Exchange Limited (NGX) closed the week ended Thursday, April 2, 2026, on a positive note as the All-Share Index (ASI) advanced by 0.39 percent from 200,913.06 recorded in the previous week to settle at 201,698.89 points.
Equities market capitalisation increased from ₦128.97 trillion to ₦129.81 trillion, representing a gain of approximately ₦837 billion in investor wealth despite the market operating for four trading sessions due to the Easter Holiday declared by the Federal Government.
Market Turnover and Liquidity
A total of 2.86 billion shares valued at ₦113.60 billion were traded in 215,287 deals during the week, lower than the 3.95 billion shares worth ₦201.31 billion recorded in the previous week.
The decline reflects:
- Reduced trading days (4 sessions)
- Lower participation volume
- Moderation in transaction value
However, deal count remained relatively strong, indicating sustained investor engagement.
Sectoral Performance
The Financial Services Industry retained its dominance:
- Volume: 1.81 billion shares
- Value: ₦61.90 billion
- Contribution: 63.41% (volume), 54.49% (value)
The Services sector followed with ₦2.97 billion, while the ICT sector recorded ₦14.65 billion in trades.
Trading concentration remained high in:
- Wema Bank Plc
- Access Holdings Plc
- Secure Electronic Technology Plc
These accounted for 734.66 million shares valued at ₦14.13 billion, representing 25.72% of total volume.
Daily Market Breakdown
- Monday (Mar 30): ₦25.62 billion
- Tuesday (Mar 31): ₦35.50 billion (peak activity)
- Wednesday (Apr 1): ₦33.28 billion
- Thursday (Apr 2): ₦19.20 billion (lowest activity)
The trend reflects early-week strength followed by late-week slowdown.
Index Performance
Market performance was broadly positive with selective declines:
Gainers:
- NGX Premium Index: +1.59%
- NGX Banking Index: +0.71%
- NGX AFR Div Yield Index: +4.81%
- NGX MERI Growth Index: +0.99%
Decliners:
- NGX Insurance Index: -4.25%
- NGX Consumer Goods Index: -1.74%
- NGX Industrial Goods Index: -0.24%
The NGX Sovereign Bond Index closed flat.
Market Breadth
Market breadth weakened compared to the previous week:
- Gainers: 29 equities
- Losers: 57 equities
- Unchanged: 62 equities
This indicates that despite index gains, decliners outpaced advancers, suggesting narrow market leadership.
Top Gainers
Top performing stocks included:
- Multiverse Mining and Exploration Plc +20.66%
- UPDC Real Estate Investment Trust +15.49%
- International Energy Insurance Plc +12.54%
- Austin Laz & Company Plc +10.47%
- Unilever Nigeria Plc +10.00%
Gains were driven by mid- and small-cap momentum alongside selective large-cap recovery.
Top Losers
Major decliners included:
- Secure Electronic Technology Plc -21.54%
- John Holt Plc -18.47%
- May & Baker Nigeria Plc -16.57%
- Aluminium Extrusion Industries Plc -16.27%
- Legend Internet Plc -16.00%
Losses were concentrated in industrial, healthcare, and speculative counters.
ETF and Bond Market
The ETF segment recorded:
- 8.39 million units
- ₦1.85 billion in value
- 11,690 deals
This reflects higher value despite lower volume, indicating institutional participation.
The bond market saw reduced activity:
- 106,530 units valued at ₦111.31 million
- Down from ₦226.45 million in the prior week
Corporate Actions and Listings
The week recorded notable capital market developments:
- Listing of FGN Savings Bonds (Jan–Mar 2026 issues)
- Listing of 5.07 billion additional shares of VFD Group Plc from rights issue
- Listing of 23.18 billion shares of FCMB Group Plc from public offer (144.89% subscribed)
- Proposed rights issue by Universal Insurance Plc
These developments signal ongoing capital raising and market expansion activities.
Market Outlook
The weekly gain reflects resilient investor confidence despite reduced trading sessions.
However:
- Market breadth is weak
- Decliners outnumber gainers
- Activity slowed toward week-end
This suggests the market is advancing on selective strength rather than broad-based momentum.
Investors are likely to remain cautious, balancing accumulation in fundamentally strong stocks with profit-taking in overheated counters.
