Nigerian stocks rally again, adding N1.66tn as market cap tops N136tn
The Nigerian equities market extended its bullish run on April 16, 2026, gaining N1.663 trillion in investor wealth as market capitalization rose 1.23% to N136.435 trillion, up from N134.772 trillion at the open. The All-Share Index climbed 2,583.61 points (1.23%) to settle at 211,901.02. Year-to-Date returns strengthened to 36.17% with 45 stocks advancing against 20 decliners.
Top gainers included Trans-Nationwide Express and Guinea Insurance, each up 10% to N5.50 and N1.21, followed by Aradel (+9.99% to N1,547.50), Ecobank Transnational (+9.97% to N61.20) and Daar Communications (+9.93% to N1.66). On the losing side, Ikeja Hotel led with a 9.73% drop to N33.40, WAPIC fell 8.77% to N2.60 and CAP lost 8.61% to N95.
Trading activity eased, with volume down 17.19% to 584.96 million shares worth N34.76 billion over 45,559 deals. Zenith Bank dominated turnover, accounting for 61.74 million shares (N7.60 billion) – 10.55% of volume and 21.86% of value. The rally marks four straight sessions of gains, building on Wednesday's N2.28 trillion increase.
For investors, the broad-based advance signals sustained confidence in the equity market, but the thinning volume suggests caution. Will you consider adding exposure to today's top gainers, take profits on recent rallies, or wait for clearer volume confirmation before adjusting your portfolio?