The Nigerian stock market recorded one of its strongest weekly performances in recent history as the All-Share Index (ASI) advanced by 6.57 percent to close at 217,167.57 points for the week ended April 17, 2026.
Equities market capitalisation rose from ₦131.166 trillion recorded in the previous week to ₦139.827 trillion, representing a massive ₦8.66 trillion increase in investor wealth.
Market Turnover Improves Sharply
Investors traded a total of 3.588 billion shares valued at ₦195.313 billion in 254,553 deals during the week, compared to 3.361 billion shares worth ₦151.948 billion exchanged in 229,442 deals in the prior week.
This reflects a strong increase in both volume and value traded, indicating heightened market participation and improved liquidity conditions.
Financial Services Sector Dominates Activity
The Financial Services sector maintained its dominance, accounting for:
- 2.498 billion shares valued at ₦94.005 billion
- Representing 69.62% of total volume and 48.13% of total value
The Services sector followed with 329.03 million shares worth ₦3.45 billion, while the Oil and Gas sector recorded 152.47 million shares valued at ₦42.51 billion.
Top Trading Stocks Drive Market Liquidity
Trading in Sterling Financial Holdings Company Plc, Access Holdings Plc and Zenith Bank Plc accounted for 1.038 billion shares valued at ₦46.081 billion in 33,067 deals.
These three stocks alone contributed:
- 28.92% of total volume
- 23.59% of total value
This underscores the continued dominance of banking and financial stocks in driving market activity.
Daily Trading Trend Shows Strong Momentum
Market activity strengthened significantly towards the end of the week:
- April 13: ₦32.40 billion
- April 14: ₦32.18 billion
- April 15: ₦41.84 billion
- April 16: ₦34.63 billion
- April 17: ₦54.27 billion
The sharp jump on Friday highlights strong late-week buying pressure.
Broad-Based Rally Strengthens Market Structure
A total of 61 equities gained during the week, significantly higher than 25 recorded in the previous week.
Meanwhile:
- 36 equities declined (down from 54)
- 49 equities remained unchanged (down from 67)
This indicates a shift from a narrow rally to a broader market participation, improving overall market breadth.
Top Performing Stocks
Leading the gainers’ chart were:
- Trans-Nationwide Express Plc: +60.48%
- Ecobank Transnational Incorporated: +46.30%
- Stanbic IBTC Holdings Plc: +36.63%
- Royal Exchange Plc: +29.37%
- Aradel Holdings Plc: +28.93%
Other notable gainers include First HoldCo Plc and Nigerian Aviation Handling Company Plc, reflecting strong cross-sector participation.
Top Decliners
On the downside, the major losers included:
- Coronation Insurance Plc: -14.38%
- Ikeja Hotel Plc: -14.36%
- International Energy Insurance Plc: -13.80%
- Academy Press Plc: -12.57%
- Honeywell Flour Mill Plc: -11.01%
ETFs and Bonds Record Mixed Performance
A total of 6.737 million ETF units valued at ₦1.056 billion were traded during the week, slightly lower in value compared to ₦1.097 billion recorded previously.
Bond market activity improved significantly, with:
- 314,033 units traded
- Total value of ₦318.56 million
- Up from ₦193.45 million recorded the previous week
Sectoral Performance
All major indices closed higher except:
- NGX Insurance Index (-0.04%)
- NGX Growth Index (-0.99%)
Key sectoral gains include:
- NGX Banking Index: +11.85%
- NGX Oil and Gas Index: +17.59%
- NGX Premium Index: +8.05%
- NGX Consumer Goods Index: +3.39%
Corporate Actions and Market Developments
The market recorded several notable developments during the week:
- Activation of rights trading for Guinea Insurance Plc, Lasaco Assurance Plc and Sunu Assurances Nigeria Plc
- Listing of 2.38 billion additional shares of Champion Breweries Plc following a hybrid rights and public offer
- Listing of ₦54.03 billion 7-year bond issued by UAC of Nigeria Plc at 17.35% coupon rate
Market Outlook
The Nigerian stock market has clearly entered an accelerated bullish phase, supported by strong liquidity, improved investor sentiment and increased participation across sectors.
The shift from a narrow rally to a broader-based advance suggests improved market structure, which could support further gains in the near term.
However, the sharp weekly surge raises the possibility of profit-taking in the short term, particularly in overbought stocks.
Overall, the market remains bullish, with momentum firmly supported by institutional flows and sector-wide participation.