Nigerian Equities Market Continues Boom, Investors Gain N861 Billion
The Nigerian stock market has sustained its impressive upward trajectory, with investors raking in an additional N861 billion on Wednesday, April 23, 2026. This significant gain marks a continuation of the bullish trend that has characterized the market in recent weeks. The market capitalization surged by 0.61 percent, climbing from N140.523 trillion to N141.384 trillion. Concurrently, the All-Share Index (ASI) advanced by 1,336.39 points, also a 0.61 percent increase, closing the trading session at 219,586.20 points, up from the previous day's 218,249.81. This performance has further bolstered the year-to-date return to an impressive 41.11 percent [2].
The market breadth remained positive, with 31 stocks recording gains against 28 stocks that experienced declines. Among the top performers, Transcorp Hotels, Vitafoam, UAC of Nigeria, and Chemical and Allied Products each saw a 10 percent appreciation, closing at N223.30, N143, N121, and N110, respectively [2, 14].
On the downside, Neimeth Pharmaceuticals led the decliners, shedding 10 percent to close at N9 per share. Abbey Mortgage Bank followed with a 9.85 percent decrease, and Livingtrust Mortgage Bank saw a 8.94 percent drop. ABC Transport and Haldane McCall also experienced losses [2, 12].
Trading activity, however, saw a decline in volume by 18.85 percent, with a total of 683.68 million shares valued at N36.17 billion exchanged across 51,694 deals. First HoldCo emerged as the most active stock, accounting for 76.64 million shares worth N5.78 billion [2, 12].
This rally, which has seen the market gain approximately N16.13 trillion since the beginning of April 2026, is attributed to factors such as impressive corporate earnings, Nigeria's reclassification as a Frontier Market by FTSE Russell, and renewed investor confidence amid global uncertainties [6]. The market has now seen a 16th consecutive day of bullish streak, with the All-Share Index appreciating by 1.48% on Thursday, April 23rd, 2026, reaching 222,837.68 points and bringing the year-to-date gain to 42.14% [13]. The market capitalization has also crossed the N140 trillion mark, with a recent gain of N1.857 trillion recorded on Friday, April 24, 2026, pushing the total market cap to N145.334 trillion [5].
The market breadth remained positive, with 31 stocks recording gains against 28 stocks that experienced declines. Among the top performers, Transcorp Hotels, Vitafoam, UAC of Nigeria, and Chemical and Allied Products each saw a 10 percent appreciation, closing at N223.30, N143, N121, and N110, respectively [2, 14].
On the downside, Neimeth Pharmaceuticals led the decliners, shedding 10 percent to close at N9 per share. Abbey Mortgage Bank followed with a 9.85 percent decrease, and Livingtrust Mortgage Bank saw a 8.94 percent drop. ABC Transport and Haldane McCall also experienced losses [2, 12].
Trading activity, however, saw a decline in volume by 18.85 percent, with a total of 683.68 million shares valued at N36.17 billion exchanged across 51,694 deals. First HoldCo emerged as the most active stock, accounting for 76.64 million shares worth N5.78 billion [2, 12].
This rally, which has seen the market gain approximately N16.13 trillion since the beginning of April 2026, is attributed to factors such as impressive corporate earnings, Nigeria's reclassification as a Frontier Market by FTSE Russell, and renewed investor confidence amid global uncertainties [6]. The market has now seen a 16th consecutive day of bullish streak, with the All-Share Index appreciating by 1.48% on Thursday, April 23rd, 2026, reaching 222,837.68 points and bringing the year-to-date gain to 42.14% [13]. The market capitalization has also crossed the N140 trillion mark, with a recent gain of N1.857 trillion recorded on Friday, April 24, 2026, pushing the total market cap to N145.334 trillion [5].
This article and image are AI generated. For informational purposes only.