Transcorp Hotels Leads NGX Rally as Market Hits Record 219,586 Points Amid Strong Banking Gains

The Nigerian equities market closed at a fresh record high on April 22, 2026, as the All-Share Index rose to 219,586.2 points, gaining 1,336.4 points or 0.61%. The rally was largely driven by strong performances in Transcorp Hotels and several heavyweight banking stocks, keeping investor sentiment firmly positive despite a slowdown in trading activity.

Market capitalization also advanced, rising from N140.5 trillion to N141.3 trillion, reinforcing the bullish momentum. However, trading volume dropped to 683.6 million shares across 51,694 deals, compared to 842.4 million shares in the previous session, indicating slightly weaker participation even as prices climbed.

A total of five stocks hit the NGX daily 10% gain limit, reflecting strong investor appetite across select equities. Chemical & Allied Products, Transcorp Hotels, Vitafoam, UACN, and Trans Nationwide Express led the gainers’ chart, each posting maximum allowable gains for the day. On the losing side, Neimeth and Abbey Mortgage Bank recorded sharp declines, signaling profit-taking in some pockets of the market.

Heavy trading activity was dominated by banking stocks, with First Holdco leading volume at 76.6 million shares, followed by UBA and Access Holdings. In value terms, First Holdco also topped the chart with N5.7 billion, while GTCO, Zenith Bank, and UBA maintained strong turnover levels, underscoring continued institutional interest in the financial sector.

Despite mixed performance in some counters, the broader market remained resilient, supported by strong gains in large-cap stocks. The index now sits at its highest level ever on a daily timeframe, edging closer to the 220,000 psychological threshold. Analysts note that while the market appears technically overbought, sustained momentum in blue-chip stocks like Transcorp Hotels could continue to drive further upside.

source: nairametrics