The Nigerian stock market recorded its strongest weekly performance in 2026, driven by gains in heavyweight stocks. The NGX All-Share Index climbed 6,357.1 points to close at 171,727.5, representing a 3.84% rise and breaking through key 170,000 and 171,000 resistance levels. This surge marked a rebound after two weeks of muted activity, signaling renewed investor confidence in the market.
Trading activity intensified alongside the rally, with 3.86 billion shares exchanged across 240,463 deals, up from 3.08 billion the previous week. Market capitalization also increased by 3.8% to N110.2 trillion, as 71 stocks gained in value compared to 44 in the prior week. On the flip side, 35 stocks declined while 42 remained unchanged, highlighting a broad-based positive market sentiment.
Sectoral performance was strong, led by the NGX Oil & Gas Index, which surged 10.88% thanks to double-digit gains in Aradel and Seplat. Industrial goods also posted solid growth, with Dangote Cement and Lafarge Africa rallying 7.09% and 6.37%, respectively. Banking stocks contributed to the momentum, while small-cap stocks Abbey Mortgage and LivingTrust Mortgage recorded impressive gains of 59.04% and 26.91%. Consumer goods saw modest gains, and insurance was the only laggard.
Among individual performers, RT Briscoe, Zichis Agro, and Abbey Mortgage led the gainers with weekly increases of 60.69%, 60.38%, and 59.04%, respectively. On the downside, Deap Capital Management and UH Real Estate Investment Trust fell sharply by over 27%, underscoring the volatile nature of certain mid and small-cap stocks. Overall, the top 10 gainers dominated market headlines, reflecting renewed investor appetite.
Corporate actions also shaped the market this week, with several companies releasing FY 2025 earnings, including Honeywell Flour Mills, Beta Glass, and Oando. Access Bank and Royal Exchange appointed new chairpersons, while Austin Laz announced expansion talks with BMT Industries. Analysts say the strong weekly performance, combined with a year-to-date gain of 10.36%, highlights growing bullish sentiment and increased investor participation, suggesting potential further gains in the Nigerian equities market as 2026 progresses.
source: nairametrics