By Boluwatife Oshadiya | April 10, 2026
Key Points
- NGX market capitalisation rises by ₦370 billion as benchmark index gains 0.4%
- Zenith Bank and GTCO drive rally alongside Nestlé and other blue chips
- Trading volume declines by 35.17% despite strong investor sentiment
Main Story
The Nigerian Exchange (NGX) closed Thursday’s session on a positive note, with equity investors gaining approximately ₦370 billion as banking heavyweights Zenith Bank and Guaranty Trust Holding Company (GTCO) sustained bullish momentum.
The benchmark All-Share Index (ASI) rose by 0.4% to 202,672.56 points, while market capitalisation expanded to ₦130.5 trillion, according to market data. The rally was driven by renewed investor appetite for fundamentally strong stocks amid ongoing corporate actions and dividend positioning.
Nestlé Nigeria recorded the strongest gain among blue chips, rising 6.36%, while Zenith Bank and GTCO advanced by 2.75% and 1.94%, respectively. Market activity, however, weakened as total traded volume declined by 35.17% and transaction value dipped by 1.84%.
Data from Atlass Portfolio Limited showed that 652.86 million shares worth ₦39.82 billion were exchanged in 51,101 deals. Access Holdings led trading volume, accounting for 18.73% of total shares traded, followed by GTCO (9.59%) and Chams (9.35%).
On the gainers’ chart, Transcorp Express surged by 9.94%, while International Energy Insurance, Guinea Insurance, and Regal Insurance also posted strong advances. Conversely, LivingTrust Mortgage Bank led the losers with a 10% decline.
The banking index emerged as the top-performing sector, rising 1.12%, while insurance, consumer goods, and oil & gas indices also posted gains.
“The sustained rally reflects continued institutional positioning in fundamentally strong counters, particularly in the banking sector ahead of earnings releases,” said a Lagos-based equities analyst.
What’s Being Said
“Investors are increasingly rotating into high-yield stocks as dividend expectations and earnings resilience support valuations,” said Ayodeji Ebo, Managing Director, Optimus by Afrinvest.
“Despite declining volumes, the market’s upward trajectory signals confidence in Nigeria’s macroeconomic adjustments,” said analysts at Atlass Portfolio Limited.
What’s Next
- Q1 2026 earnings releases from tier-one banks expected to shape market direction
- Dividend announcements likely to sustain demand for banking stocks
- Investors to monitor inflation data and monetary policy signals for market cues
Bottom Line
The Bottom Line: Nigeria’s equities rally remains anchored on banking sector strength and dividend-driven positioning, but weakening trade volumes suggest cautious optimism rather than broad-based market conviction.
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