The Nigerian equities market ended the week on a positive note, with key performance indicators closing in the green despite a shortened trading window due to the Easter holidays declared by the Federal Government on April 3 and 6, 2026.
Trading for four sessions, the market rebounded from the previous week’s losses, buoyed by renewed investor interest in banking and consumer goods stocks. The benchmark NGX All-Share Index (ASI) appreciated by 0.39 per cent week-on-week to close at 201,698.89 points. Correspondingly, market capitalisation rose by ₦836.94 billion, representing a 0.65 per cent increase, to close at ₦129.81 trillion. Year-to-date, the ASI has posted a strong gain of 29.62 per cent, underscoring sustained investor confidence in the market.
Market performance during the week was further supported by fresh listings, including VFD Group’s 5.07 billion ordinary shares and FCMB Group’s 23.18 billion ordinary shares, which were admitted on April 2 and April 1, respectively. These additions contributed to overall market liquidity and activity.
Sectoral performance, however, presented a mixed outlook, with only two of the five major indices recording gains. A total of 29 equities appreciated in price during the week, led by Multiverse Mining and Exploration Plc, which gained 20.66 per cent. Other notable gainers included Unilever Nigeria Plc (+10.00%), Cadbury Nigeria Plc (+9.05%), NAHCO Plc (+8.85%), and MTN Nigeria Communications Plc (+5.85%).
On the flip side, 57 equities recorded price declines, reflecting profit-taking activities and cautious investor sentiment in some segments of the market. Leading the laggards were May & Baker Nigeria Plc (-16.57%), Nestlé Nigeria Plc (-10.00%), Skyway Aviation Handling Company Plc (-9.97%), Honeywell Flour Mills Plc (-6.98%), and Dangote Sugar Refinery Plc (-5.71%). The overall trend highlighted a divergence between strong-performing consumer and industrial stocks and declining heavyweight counters.
In terms of market activity, investors traded a total turnover of 2.86 billion shares valued at ₦113.60 billion in 215,287 deals during the week. This represents a decline compared to the previous week’s turnover of 3.95 billion shares worth ₦201.31 billion exchanged in 359,642 deals, reflecting the reduced number of trading days.
The Financial Services Industry maintained its dominance on the activity chart, accounting for 1.81 billion shares valued at ₦61.90 billion traded in 86,818 deals. This represents 63.41 per cent and 54.49 per cent of the total equity turnover volume and value, respectively. The Services Industry followed with 299.90 million shares worth ₦2.97 billion in 13,797 deals, while the ICT Industry ranked third, recording a turnover of 183.23 million shares valued at ₦14.65 billion in 25,287 deals.
Further analysis of trading patterns showed that the top three most traded equities by volume—Wema Bank Plc, Access Holdings Plc, and Secure Electronic Technology Plc—collectively accounted for 734.66 million shares worth ₦14.13 billion in 12,319 deals. This contributed 25.72 per cent and 12.44 per cent to the total equity turnover volume and value, respectively.
Overall market breadth weakened slightly compared to the previous week. A total of 29 equities recorded gains, down from 47 in the prior week, while 57 equities declined, higher than the 45 recorded previously. Meanwhile, 62 equities remained unchanged, compared to 56 in the preceding week.
Despite the mixed breadth, the week’s positive close reflects underlying resilience in the Nigerian capital market, supported by strategic sectoral gains, new listings, and sustained investor participation. Market analysts note that continued activity in key sectors, alongside macroeconomic developments, will shape investor sentiment in the weeks ahead.
