Nigeria’s stock market extended its strong rally into the new trading week on Monday, with investors gaining approximately US$378.5 million in market value as optimism over corporate earnings and economic reforms continued to support buying activity.
The benchmark Nigerian Exchange (NGX) All-Share Index rose by 0.38 percent to close at 243,396.25 points, reinforcing one of the strongest bull runs among African equity markets this year.
The advance added 514.97 billion naira (US$378.5 million) to investors’ holdings, lifting total market capitalisation to 156.11 trillion naira (US$114.8 billion).
The latest gains pushed the market’s year-to-date return to 56.41 percent, reflecting sustained investor confidence despite broader macroeconomic challenges, including inflationary pressures and exchange-rate volatility.
Analysts said investors continued to position themselves ahead of anticipated corporate actions and earnings announcements, while expectations of further economic reforms under the government’s policy agenda also supported sentiment.
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Trading data showed that market breadth remained positive, with 32 stocks recording gains compared with 29 decliners, indicating broad-based participation across sectors.
Among the session’s strongest performers were International Energy Insurance Plc, The Initiates Plc, ABC Transport Plc, Abbey Mortgage Bank Plc and UPDC Real Estate Investment Trust, all of which posted notable gains as investors increased exposure to selected equities.
Meanwhile, Fidson Healthcare Plc, Academy Press Plc, R.T. Briscoe (Nigeria) Plc, SUNU Assurances Nigeria Plc and Learn Africa Plc were among the biggest losers, as some investors locked in profits following recent share price appreciation.
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Sectoral performance was largely positive, highlighting the resilience of the market.
The Oil and Gas Index led gains with a rise of 0.87 percent, supported by renewed investor interest in energy-related stocks amid firm global crude prices.
The Insurance Index advanced 0.62 percent, while the Banking Index gained 0.59 percent, reflecting continued demand for leading financial institutions.
The Commodity Index rose 0.37 percent, while the Consumer Goods Index added 0.10 percent.
The Industrial Goods Index was the only sector to close lower, slipping marginally by 0.003 percent.
Investor participation strengthened significantly during the session, signalling improving liquidity conditions and growing confidence in the domestic market.
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Total trading volume increased by 22.63 percent to 746.18 million shares, while the value of transactions surged 81.26 percent to 58.06 billion naira (US$42.7 million).
The number of deals executed on the exchange climbed by 39.93 percent to 75,320 transactions, reflecting heightened activity from both institutional and retail investors.
Market analysts attributed the strong turnover to sustained appetite for equities as investors seek higher returns in a low-yield environment and position for potential gains from improving corporate performance.
The rally also comes amid growing foreign investor interest in Nigerian assets following reforms aimed at improving foreign exchange market liquidity and enhancing macroeconomic stability.
Recent data from the National Bureau of Statistics showed a sharp rise in capital inflows into the country during the first quarter of 2026, with portfolio investments accounting for the bulk of foreign capital entering the economy.
Despite the positive outlook, analysts cautioned that periodic profit-taking could trigger short-term volatility after the market’s substantial gains this year.
Nevertheless, they expect the overall upward momentum to remain intact as investors continue to seek opportunities across banking, energy, consumer goods and insurance stocks.
With market capitalisation now exceeding 156 trillion naira, Nigeria’s equities market is increasingly being viewed as one of the strongest-performing investment destinations in Africa in 2026, supported by reform-driven optimism and improving investor confidence.
