The Nigerian stock market ended April 2026 on a bullish note last week, as strong buying momentum across key sectors lifted the performance indicators of the Nigerian Exchange Limited, with investors recording N26.487 trillion in gains during the month.
The market was driven by renewed institutional interest in high-cap and fundamentally sound stocks, reinforcing the market’s resilient uptrend.
Specifically, market capitalisation, which represents the total value of shares listed on the Exchange, grew to N155.696 trillion, the highest level on record this year, at the close of trading yesterday, up from N129.209 trillion in March 2026.
Similarly, another major market indicator, the NGX All-Share Index, rose by 20.13 per cent in April to 241,815.32 points from 201,287.78 points in March, indicating confidence in companies’ earnings strength and pricing power in an inflationary environment.
Meanwhile, further Week-on-Week (WoW) analysis showed that a total turnover of 4.842 billion shares worth N287.756 billion in 332,453 deals was traded this week on the floor of the Exchange, compared to a total of 3.805 billion shares valued at N213.955 billion exchanged last week in 297,202 deals.
The Financial Services Industry (measured by volume) led the activity chart with 3.755 billion shares valued at N124.398 billion traded in 146,938 deals, contributing 77.56 per cent and 43.23 per cent to the total equity turnover volume and value, respectively. The Consumer Goods Industry followed with 177.009 million shares worth N30.853 billion in 36,609 deals, while the Services Industry ranked third, with a turnover of 176.809 million shares valued at N4.387 billion in 15,310 deals.
Trading in the top three equities, Access Holdings Plc, United Bank for Africa Plc, and Wema Bank Plc (measured by volume) accounted for 2.026 billion shares worth N60.036 billion in 39,925 deals.
Meanwhile, on the global scene, crude oil prices extended their rally, with Brent crude rising to $114.16 per barrel.
Analysts at InvestData Consulting Limited stated that the surge is driven by geopolitical tensions in the Middle East, particularly the continued disruption of shipping through the Strait of Hormuz. They noted that the deadlock in negotiations between the United States and Iran has heightened supply concerns, while the UAE’s exit from OPEC+ has introduced additional uncertainty into the market.
According to the analysts: “Despite this, supply constraints remain the dominant theme, supporting elevated oil prices. For Nigeria, sustained high oil prices are a positive macro driver, boosting revenue outlook and supporting investor sentiment, particularly in energy-linked equities.”
