By Boluwatife Oshadiya | April 8, 2026
Key Points
- NGX adds ₦209bn in investor value on renewed buying interest
- FirstHoldco and GTCO lead gains among large-cap stocks
- Trading volume surges over 86% in post-holiday session
Main Story
Equity investors on the Nigerian Exchange (NGX) gained approximately ₦209 billion as renewed buying interest in bellwether stocks such as FirstHoldco Plc and Guaranty Trust Holding Company Plc (GTCO) drove market performance higher.
The benchmark All-Share Index rose by 297.14 basis points to close at 201,996.03, reflecting a 0.16% gain, while market capitalisation increased by ₦191.23 billion to ₦129.99 trillion.
The rally followed the Easter holiday break and was largely driven by bargain hunting across medium- and large-cap stocks with strong fundamentals. FirstHoldco led gainers among major counters, advancing 9.1%, while GTCO rose 2.46%.
Trading activity strengthened significantly, with total volume rising 86.21% to 1.04 billion shares, valued at ₦37.33 billion across 77,534 deals, according to Atlass Portfolio Limited.
Wema Bank dominated trading activity, accounting for 24.58% of total volume and 18.12% of total trades. Other active stocks included Access Holdings, VFD Group, FirstHoldco, and GTCO.
Despite the overall market gain, breadth closed negative with 24 advancers and 36 decliners. Ellah Lakes led laggards with a 10% drop, followed by DAAR Communications and Chams.
Sectoral performance was mixed, with banking stocks leading gains (+1.46%), while insurance and industrial goods indices declined.
“The uptick reflects renewed confidence in fundamentally strong counters following recent price corrections,” Atlass Portfolio Limited stated.
What’s Being Said
“Investors are selectively re-entering the market, focusing on value stocks with earnings visibility,” Atlass Portfolio Limited said in its market update.
An independent analyst noted: “The surge in volume suggests institutional participation is returning after the holiday lull.”
What’s Next
- Continued bargain hunting expected in undervalued large-cap stocks
- Investors will watch for earnings guidance from major corporates
- Sector rotation likely as market participants rebalance portfolios
The Bottom Line: The post-holiday rally signals a cautious but deliberate return of investor confidence, with institutional money driving gains in fundamentally strong equities rather than speculative plays.
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