April 12, (THEWILL) — The Nigerian equities market traded for four sessions this week following the Federal Government’s declaration of Monday, April 6, 2026, as a public holiday to mark the Easter celebration.
Overall market performance showed improved liquidity and stronger participation, as total turnover rose to 3.361 billion shares worth ₦151.948 billion in 229,442 deals, compared to 2.856 billion shares valued at ₦113.597 billion recorded in the previous week. This reflects a notable week-on-week increase in both volume and value, underscoring sustained investor engagement despite intermittent profit-taking.
The Financial Services Industry dominated trading activity once again, accounting for 2.303 billion shares valued at ₦90.467 billion across 98,175 deals, representing 68.54 percent of total volume and 59.54 percent of total value. The sector continues to anchor market liquidity, driven largely by banking stocks and recapitalisation-related positioning.
The Services Industry followed with 264.146 million shares worth ₦1.977 billion, while the ICT Industry ranked third with 214.578 million shares valued at ₦9.791 billion, reflecting selective accumulation in technology-driven counters.
Trading in the top three equities by volume Access Holdings Plc, Wema Bank Plc, and Guaranty Trust Holding Company Plc accounted for 1.124 billion shares worth ₦49.451 billion, contributing 33.45 percent of volume and 32.54 percent of total value.
Market breadth closed mixed but slightly improved, as 25 equities appreciated, lower than 29 in the previous week, while 54 equities declined, an improvement from 57 previously. Meanwhile, 67 equities remained unchanged, higher than 62, indicating persistent stagnation in a sizeable portion of listed stocks.
Top five gainers:
TRANS-NATIONWIDE EXPRESS PLC led with a 32.75 percent gain (₦2.84 to ₦3.77).
Nigerian Exchange Group Plc which rose 13.94 percent (₦165.00 to ₦188.00).
Guaranty Trust Holding Company Plc gained 10.66 percent (₦122.00 to ₦135.00).
NASCON Allied Industries Plc advanced 9.52 percent (₦147.00 to ₦161.00).
Guinness Nigeria Plc completed the top five with a 9.38 percent rise (₦423.20 to ₦462.90).
Top five losers:
DAAR Communications Plc led decliners with a -21.47 percent (fall from ₦1.91 to ₦1.50)
RT Briscoe Plc which dropped -16.81 percent (₦10.50 to ₦8.40).
Deap Capital Management & Trust Plc also fell -16.81 percent (₦6.01 to ₦5.00)
Ellah Lakes Plc declined -16.67 percent (₦12.00 to ₦10.00).
Japaul Gold & Ventures Plc closed the laggards list with a -16.29 percent (drop ₦3.50 to ₦2.93).
In the fixed income market, bond trading rose to 185,584 units valued at ₦193.445 million, compared to 106,530 units valued at ₦111.311 million in the previous week, reflecting increased participation in the debt segment.
Investor sentiment for the week remained broadly positive, supported by sustained liquidity inflows, strong activity in the financial services sector, and continued positioning in recapitalisation driven banking stocks. The increase in total turnover to ₦151.948 billion highlights improving participation levels, particularly among institutional and retail investors rotating into large-cap names.
However, market breadth remained mixed, with a higher number of decliners than gainers, reflecting ongoing profit-taking and selective risk appetite. This suggests that while the broader market trend remains constructive, gains are still being concentrated in a narrow group of highly liquid equities, particularly Tier-1 banks and index-heavy counters.
Looking ahead, the outlook for the coming week is expected to remain cautiously optimistic. Analysts anticipate continued support from banking sector momentum and portfolio rebalancing activities, especially as investors digest recent earnings expectations and macroeconomic signals. However, intermittent volatility may persist as traders lock in gains from recent rallies, particularly in stocks that have recorded sharp short-term appreciation.
Overall, the market is likely to maintain a positive bias, but with a more rotational structure where performance is driven less by broad market rallies and more by stock-specific catalysts, sector positioning, and liquidity concentration in blue-chip equities.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
