The Nigerian stock market extended its bullish momentum for the week ended April 24, 2026, as the All-Share Index (ASI) advanced by 3.94 percent to close at 225,722.49 points, up from 217,167.57 recorded in the previous week.
Equities market capitalisation increased from ₦139.83 trillion to ₦145.34 trillion, translating to a ₦5.51 trillion gain in investor wealth.
Market Turnover Strengthens Further
Investors traded a total of 3.805 billion shares valued at ₦213.955 billion in 297,202 deals, compared to 3.588 billion shares worth ₦195.313 billion in 254,553 deals in the previous week.
The increase in both volume and value underscores stronger participation and continued inflow of funds into the market.
Financial Sector Maintains Dominance
The Financial Services sector remained the most active, accounting for:
- 2.739 billion shares valued at ₦106.27 billion
- Representing 71.99% of total volume and 49.67% of total value
The Services sector followed with 212.32 million shares worth ₦4.02 billion, while the Consumer Goods sector recorded 180.08 million shares valued at ₦13.27 billion.
Top Trades Reflect Banking Dominance
Trading activity was led by Access Holdings Plc, United Bank for Africa Plc and First HoldCo Plc, which jointly accounted for 814.06 million shares valued at ₦39.03 billion.
This represents:
- 21.40% of total volume
- 18.24% of total value
Daily Performance Shows Sustained Momentum
Trading activity remained strong throughout the week:
- April 20: ₦50.75 billion
- April 21: ₦44.78 billion
- April 22: ₦36.10 billion
- April 23: ₦37.93 billion
- April 24: ₦44.39 billion
The consistency in trading value above ₦35 billion highlights sustained investor interest despite moderate fluctuations.
Market Breadth Weakens Slightly
A total of 46 equities gained, lower than 61 recorded in the previous week.
Meanwhile:
- 53 equities declined (up from 36)
- 47 equities remained unchanged (down from 49)
This indicates increasing profit-taking and a slight weakening in market breadth, despite the overall index gain.
Top Performing Stocks
Leading the gainers’ chart were:
- UAC of Nigeria Plc: +42.00%
- Union Dicon Salt Plc: +32.73%
- Nascon Allied Industries Plc: +32.63%
- Trans-Nationwide Express Plc: +30.58%
- Chemical and Allied Products Plc: +24.74%
Other notable gainers include Lafarge Africa Plc, PZ Cussons Nigeria Plc and First HoldCo Plc, reflecting broad sector participation.
Top Decliners
On the downside, the major losers included:
- Infinity Trust Mortgage Bank Plc: -50.79%
- Abbey Mortgage Bank Plc: -33.33%
- Guinea Insurance Plc: -15.20%
- Stanbic IBTC Holdings Plc: -13.82%
- LivingTrust Mortgage Bank Plc: -10.98%
The sharp declines highlight intensifying profit-taking in select mid- and small-cap stocks.
ETF and Bond Market Performance
A total of 7.757 million ETF units valued at ₦916.11 million were traded, slightly higher in volume but lower in value compared to the previous week.
The bond market recorded stronger activity, with:
- 442,785 units traded
- Total value of ₦445.83 million
- Up from ₦318.56 million in the prior week
Corporate Actions and Listings
The week featured several significant market developments:
- Proposed rights issue by Dangote Sugar Refinery Plc to raise capital
- Listing of commercial papers by MeCure Industries Plc and Coleman Technical Industries Plc
- Supplementary listing of Federal Government bonds across multiple maturities
Market Outlook
The Nigerian stock market continues to exhibit strong bullish momentum, supported by robust liquidity and sustained institutional participation.
However, the decline in market breadth suggests that the rally is becoming more selective, with investors rotating capital and taking profits in weaker or overbought stocks.
Going forward, the market is expected to maintain its upward trajectory, although intermittent corrections may emerge as investors consolidate gains.
