By Boluwatife Oshadiya | April 17, 2026
Key Points
- Nigerian equities market gains ₦1.663 trillion as bullish sentiment persists
- All-Share Index rises 1.23% to 211,901.02, YTD return climbs to 36.17%
- Gains driven by mid- and large-cap stocks including Aradel and Ecobank Transnational
Main Story
The Nigerian equities market extended its bullish momentum on Thursday, with investors recording a ₦1.663 trillion gain as total market capitalisation rose to ₦136.435 trillion from ₦134.772 trillion at the start of trading.
The benchmark All-Share Index (ASI) advanced by 2,583.61 points, representing a 1.23 per cent increase to close at 211,901.02, compared to 209,317.41 in the previous session. The rally reflects sustained investor appetite for equities amid improving corporate earnings and liquidity conditions.
Market breadth closed firmly positive, with 45 gainers outperforming 20 losers. Top-performing stocks included Trans-Nationwide Express and Guinea Insurance, both gaining 10 per cent, alongside Aradel Holdings, Ecobank Transnational, and Daar Communications, which posted near-double-digit gains.
On the downside, Ikeja Hotel led decliners with a 9.73 per cent loss, followed by WAPIC Insurance, CAP Plc, International Energy Insurance, and McNichols.
Despite the price rally, trading activity weakened, with total volume declining by 17.19 per cent to 584.96 million shares valued at ₦34.76 billion across 45,559 deals. Zenith Bank recorded the highest turnover, accounting for over 21 per cent of total market value traded.
What’s Being Said
“Sustained rallies typically attract fresh participation from investors who had previously stayed on the sidelines,” said Tajudeen Olayinka, CEO, Wyoming Capital and Partners.
“The trend is being driven largely by domestic investors, alongside renewed foreign interest due to attractive yields and improved corporate performance,” he added.
What’s Next
- Investors will closely monitor upcoming Q1 2026 earnings releases for confirmation of earnings momentum
- Market participants are also watching macroeconomic indicators, including inflation and interest rate direction
- Continued foreign portfolio inflows could further sustain liquidity and upward price movement
The Bottom Line:
Nigeria’s equity market is currently being driven by liquidity and earnings optimism rather than macro stability alone. If corporate performance sustains, the rally may extend—but volatility risks remain tied to broader economic conditions.
