Nigeria stocks extend rally into Q2 as bulls retain control

The Nigerian equities market kicked off the second quarter (Q2) of 2026 on a positive note, with the NGX All-Share Index (ASI) gaining 0.21 percent to close at 201,703.55 points on Wednesday, April 1.

The performance on Wednesday suggests a cautiously optimistic entry into the new quarter.

This modest uptick follows a historic milestone in late March, where the index shattered the 200,000-point ceiling for the first time and an impressive N30trillion valuation added in the first three months of the year.

The NGX-ASI closed the Q1 at 201,287.78 points while equities valuation on the Bourse reached N129.209 trillion.

At the beginning of Q2, the market capitalisation increased to approximately N129.80 trillion while the NGX All-Share Index rose to 201,703.55 points.

The market’s ability to hold above the 200,000-point psychological floor is being viewed by analysts as a sign of sustained investor confidence, despite broader macroeconomic adjustments earlier in the year.

NGX Banking Index rose most by 3.21 percent while NGX Consumer Goods Index decreased most by 1.56 percent. The stock market’s positive return year-to-date (YtD) rose to 29.62 percent.

While blue-chip banking stocks like Zenith and GTCO saw significant buying interest, heavyweights like Nestlé faced downward pressure, likely due to profit-taking or portfolio rebalancing typical of a quarter’s start.

In  52,641 deals, investors exchanged 815,478,185 shares worth N33.289 billion.