The Nigerian stock market continued its impressive bullish run on Thursday, April 23, with investors gaining over N2.09 trillion in a single trading session. The surge was driven by strong buying interest in key stocks such as Unilever Nigeria, UAC of Nigeria, and Dangote Sugar Refinery, pushing the market into positive territory.
Market Performance Highlights
The benchmark NGX All-Share Index (ASI) rose by 1.48% to close at 222,837.68 points, up from 219,585.20 points recorded on Wednesday. Market capitalisation increased significantly by N2.09 trillion to N143.48 trillion, while the year-to-date (YTD) return improved to 43.20%.
Market Sentiment and Activity
Despite the overall gains, market sentiment remained negative, with 34 stocks declining compared to 31 gainers. Trading activity saw a slight decline, with total volume traded dropping by 2.30% to 667.94 million shares. The value of transactions stood at N38.12 billion across 53,062 deals.
Access Holdings recorded the highest trading volume with 39.51 million shares, accounting for 5.92% of total volume. MTN Nigeria Communications led in value terms with trades worth N5.31 billion, representing 13.92% of the total market value. United Bank for Africa and Zenith Bank contributed 5.62% and 5.44% of total volume, respectively, while Zenith Bank and Guaranty Trust Holding Company followed MTN in traded value.
Top Performing Stocks
Unilever Nigeria and UAC of Nigeria topped the gainers' chart, both trading above their 52-week highs at N121.00 and N133.10, respectively. Other stocks that reached new 52-week highs included Trans-Nationwide Express (N8.71), Union Dicon Salt (N21.90), NASCON Allied Industries (N206.90), and PZ Cussons Nigeria (N92.20).
Key Gainers
- Unilever Nigeria: +10.00%
- UAC of Nigeria: +10.00%
- Dangote Sugar Refinery: +9.78%
- Union Dicon Salt: +9.77%
- NASCON Allied Industries: +9.76%
- PZ Cussons Nigeria: +8.53%
- BUA Foods: +7.93%
- Chemical and Allied Products: +4.55%
- Zenith Bank: +3.47%
- Wema Bank: +3.45%
Other Notable Performers
- Access Holdings: +3.23%
- Dangote Cement: +2.35%
- Guaranty Trust Holding Company: +2.31%
- The Initiates Plc: +2.14%
- Cadbury Nigeria: +2.08%
- Custodian Investment: +1.08%
- Berger Paints Nigeria: +0.95%
- United Bank for Africa: +0.56%
Market Outlook
Nigeria's equities market has extended its bullish run in April 2026, driven by renewed investor confidence, improving macroeconomic signals, and increased foreign portfolio inflows. The rally has been powered by blue-chip heavyweights, banking stocks, and select industrial players with solid earnings and attractive valuations. Consumer goods companies are making a comeback as pricing strategies and cost controls begin to yield results.
