The Nigerian stock market closed the week ended Thursday on a strong positive note as the All-Share Index (ASI) advanced by 1.03 percent from 201,698.89 recorded in the previous week to settle at 203,770.43 points.
Equities market capitalisation increased from ₦129.81 trillion to ₦131.17 trillion, representing a gain of approximately ₦1.36 trillion in investor wealth.
Trading activities were compressed into four sessions following the Easter Holiday declared by the Federal Government.
Market Turnover and Liquidity
Investors traded a total of 3.36 billion shares valued at ₦151.95 billion in 229,442 deals, compared to 2.86 billion shares worth ₦113.60 billion recorded in the previous week.
The increase in both volume and value signals renewed liquidity inflow and stronger institutional participation, despite fewer trading days.
Sectoral Performance
The Financial Services sector dominated market activity:
- Volume: 2.30 billion shares
- Value: ₦90.47 billion
- Contribution: 68.54% (volume), 59.54% (value)
Other sectors trailed significantly:
- ICT: ₦9.79 billion
- Services: ₦1.98 billion
Top traded stocks included:
- Access Holdings Plc
- Wema Bank Plc
- Guaranty Trust Holding Company Plc
These accounted for ₦49.45 billion in trades, reinforcing banking sector dominance.
Daily Market Trend
- April 7: ₦40.26 billion
- April 8: ₦40.55 billion
- April 9: ₦39.77 billion
- April 10: ₦31.36 billion
The trend shows strong early-week momentum followed by gradual cooling, suggesting profit-taking toward week-end.
Index Performance
Market performance was broadly positive, led by banking and dividend-paying stocks:
Top Gaining Indices:
- NGX AFR Div Yield Index: +10.17%
- NGX Banking Index: +5.10%
- NGX Premium Index: +2.26%
- NGX Consumer Goods Index: +3.73%
Declining Indices:
- NGX Insurance Index: -3.64%
- NGX Growth Index: -1.82%
The NGX Sovereign Bond Index rose by 2.11%, reflecting improved fixed income activity.
Market Breadth
Market breadth remained negative:
- Gainers: 25 equities
- Losers: 54 equities
- Unchanged: 67 equities
This indicates the market rally was driven by a narrow group of stocks, particularly large-cap and banking equities.
Top Gainers
Leading price advancers include:
- Trans-Nationwide Express Plc +32.75%
- Nigerian Exchange Group Plc +13.94%
- Guaranty Trust Holding Company Plc +10.66%
- NASCON Allied Industries Plc +9.52%
- Guinness Nigeria Plc +9.38%
- Zenith Bank Plc +8.74%
- Nestlé Nigeria Plc +6.36%
Top Losers
Major decliners include:
- DAAR Communications Plc -21.47%
- RT Briscoe Plc -20.00%
- Deap Capital Management & Trust Plc -16.81%
- Ellah Lakes Plc -16.67%
- Japaul Gold & Ventures Plc -16.29%
- Chams Holding Company Plc -10.67%
Losses were concentrated in small-cap and speculative stocks, indicating continued rotation into stronger names.
ETF and Bond Market
The ETF segment recorded:
- 6.74 million units traded
- ₦1.10 billion value (down from ₦1.85 billion)
The bond market recorded improved activity:
- ₦193.45 million traded, up from ₦111.31 million
This suggests increased diversification into fixed income assets.
Corporate Actions and Market Developments
Key developments during the week include:
- Listing of additional shares of Access Holdings Plc from private placement
- Delisting of:
- DN Tyre and Rubber Plc
- Greif Nigeria Plc
These reflect ongoing market restructuring and regulatory enforcement efforts.
Market Outlook
The Nigerian stock market recorded a strong weekly gain supported by increased liquidity and sustained buying in banking and dividend-paying stocks.
However:
- Market breadth remains weak
- Gains are concentrated in select sectors
- Late-week slowdown indicates caution
The market appears to be driven by selective accumulation rather than broad-based strength, suggesting investors are positioning strategically rather than aggressively.
