The Nigerian equities market posted modest gains during the Easter week ended April 2, 2026, with the All-Share Index rising by 785.83 points to close at 201,698.89. Key drivers included MTN Nigeria and GTCO, which helped sustain market momentum despite a shortened four-day trading week ahead of the Easter holidays. This performance marks a week-on-week increase of 0.39%, lifting the total market capitalization to N129.8 trillion.
Trading activity was relatively subdued, with 2.8 billion shares valued at N113.5 billion exchanged across 215,287 deals, lower than the previous week’s 3.9 billion units. Market breadth weakened as 29 equities recorded gains, compared to 47 the prior week, while 57 stocks declined and 62 remained unchanged. The market closed positively on two trading days, with Friday’s session skipped due to the public holiday.
Sector performances were mixed. The Premium Index surged 1.59%, led by a 5.85% gain in MTN Nigeria, while the NGX 30 Index climbed 0.54% and the Main Board Index fell slightly by 0.29%. Banking stocks outperformed, with GTCO rising 5.08% and FCMB up 0.42%, driving the NGX Banking Index higher. Meanwhile, the NGX Insurance Index recorded the steepest losses, shedding 4.25%, followed by declines in consumer and industrial goods sectors.
Among individual stocks, Multiverse Mining and Exploration led weekly gainers with a 20.66% rise to N20.15, followed by UPDC REIT (+15.49%) and International Energy Insurance (+12.54%). Other notable winners included Austin Laz & Company, Unilever Nigeria, and Cadbury Nigeria, all posting double-digit percentage gains. On the flip side, Secure Electronic Technology led the losers with a 21.54% drop, while John Holt, May & Baker, and Aluminium Extrusion Industries also saw significant declines.
Corporate disclosures remained a key focus for investors. Several companies, including UH REIT, SFS REIT, BUA Foods, GTCO, and Wema Bank, released audited FY2025 financial statements, offering insights into sector health. Analysts note that while mid-cap stocks contributed to gains, MTN Nigeria and GTCO remain the primary drivers of market performance. With the All-Share Index now above 201,000 points, some investors anticipate a short-term retracement in rallying stocks.
source: nairametrics