The Nigerian equities market delivered its strongest weekly bullish performance so far in 2026, gaining 6,357.1 points to close at 171,727.5, driven by solid rallies in heavyweight stocks.
Tracked by the NGX All-Share Index, the market surged to record highs, breaking 170,000 and 171,000 levels, gaining 3.84% after two weeks of subdued price action.
Trading activity strengthened with the rally, as volume rose to 3.86 billion shares in 240,463 deals from 3.08 billion, while market capitalization grew 3.8% to N110.2 trillion.
Market breadth closed positive, as 71 stocks recorded price appreciation, higher than 44 in the prior week. On the flip side, 35 stocks declined, improving from 49 losers previously, while 42 stocks closed unchanged.
Market data points to a renewed surge in both volume and prices, signaling stronger investor participation, with year-to-date gains now at 10.36% in 2026.
The rally persisted through the rest of the week, pushing the index to 171,727.5 points by Friday’s close.
The NGX Premium Index drove the rally, gaining 6.80%, supported by strong performances from Seplat (+10.00%), MTN (+8.41%), Dangote Cement (+7.09%), Lafarge Africa (+6.37%), First HoldCo (+4.44%), Zenith Bank (+3.57%), and Access Holdings (+1.77%).
Other major indices also closed higher, with the NGX 30 Index rising 3.83%, while the Main Board Index advanced 2.25%.
Most sectors closed the week in positive territory, led by the NGX Oil & Gas Index, which surged 10.88%, driven largely by a 15.36% jump in Aradel and a 10.00% weekly gain in Seplat. Eterna also edged higher, up 0.49%.
The top-performing stocks for the week were:
The week’s worst-performing stocks included:
The week featured a flurry of corporate disclosures, largely centered on FY 2025 earnings releases:
Ecobank, Transcorp Power, Fortis Global Industries, and Skyway Aviation also released performance updates for the same period.
The strong weekly gain of 3.84% signals renewed bullish sentiment in the Nigerian equities market, driven largely by heavyweight stocks.
Continued strength in heavyweight stocks may further sustain this upward momentum.