By Boluwatife Oshadiya | April 21, 2026
Key Points
- Banking stocks drive ₦609bn market capitalisation gain
- NGX All-Share Index rises 0.44% to 218,113.84
- Market breadth closes positive with 36 gainers, 35 losers
Main Story
Nigeria’s equities market opened the week on a bullish note as strong buying interest in banking stocks pushed total market capitalisation up by ₦609 billion to ₦140.435 trillion on Monday.
The All-Share Index (ASI) advanced by 946.27 points, representing a 0.44 per cent gain, to close at 218,113.84, compared to 217,167.57 recorded in the previous session, according to trading data.
The rally was largely driven by mid- and large-cap stocks, including Nigerian Aviation Handling Company and Union Dicon Salt, which both appreciated by 10 per cent to close at ₦242 and ₦18.15 respectively. Fidelity Bank gained 9.98 per cent to ₦22.05, while Trans-Nationwide Express and Access Corporation rose by 9.92 per cent and 9.87 per cent respectively.
On the downside, Stanbic IBTC and Livingtrust Mortgage Bank declined by 10 per cent each, closing at ₦169.70 and ₦3.69, while Transcorp Power shed 9.97 per cent to ₦272.70.
Trading activity weakened, with total volume declining to 983.9 million shares valued at ₦50.8 billion across 76,410 deals, compared to 1.3 billion shares worth ₦54.4 billion in 56,923 transactions recorded in the previous session.
Access Corporation led in volume with 91.65 million shares traded, while Zenith Bank recorded the highest transaction value at ₦7 billion.
What’s Being Said
“The equities rally was largely driven by strong performance in the banking sector,” said David Adonri, Vice President, Highcap Securities.
“Mid-tier banks such as Access Bank, Fidelity Bank and Sterling Bank witnessed heightened demand from investors,” he added.
“The banks were extremely bullish and they moved the market today,” Adonri said.
What’s Next
- Investors are expected to sustain interest in banking stocks amid ongoing sector recapitalisation expectations
- Market direction will hinge on corporate earnings releases and macroeconomic signals this week
- Analysts will monitor liquidity levels and foreign investor participation for sustained momentum
The Bottom Line:
Nigeria’s banking sector remains the dominant force in equities market direction, and sustained investor appetite for financial stocks signals continued confidence in the sector’s earnings outlook despite broader macroeconomic uncertainties.
