Finance Ed

MARKET OVERVIEW & WEEKLY COMMENTARY — (20th–24th APRIL 2026)

The NGX week of 20–24 April 2026 delivered a notable rotation back into mid-to-large cap consumer goods and conglomerates, with UACN PLC leading the gainers at +42.00% to ₦142.00 the most significant weekly gain by a blue-chip conglomerate in recent months. Union Dicon Salt (+32.73%), NASCON Allied Industries (+32.63%), and Trans-Nationwide Express (+30.58%) rounded out a strong top four, all exceeding 30% weekly gains. Notably, Lafarge Africa (+21.36%), PZ Cussons (+18.81%), First HoldCo (+17.19%), and Unilever Nigeria (+17.13%) also featured signalling broad institutional buying across Consumer Goods, Industrials, and Financial Services. On the decliners side, Infinity Trust Mortgage Bank led losses at -50.79%, reflecting the extreme volatility that continues to characterise low-cap mortgage and insurance stocks. Stanbic IBTC Holdings shed -13.82% to ₦162.50, the most notable large-cap decliner of the week.

Nigerian Stock Market Investment Report

The Nigerian equities market has shown significant resilience and growth in the first half of 2026.
This report highlights seven key stocks across the Telecommunications, Banking, Agriculture, and
Consumer Goods sectors that present compelling investment opportunities based on their current
valuation, market position, and growth prospects. By leveraging real-time data from the Nigerian
Exchange (NGX) and reliable market intelligence, we provide a comprehensive analysis for
potential investors.

NGX Extends Trading Hours

The Nigerian Exchange Limited (NGX) has announced an extension of its daily trading hours in a move aimed at deepening market activity, improving liquidity, and broadening investor participation in Nigeria’s capital market. The new trading schedule will take effect from Monday, 27 April 2026, following regulatory approval from the Securities and Exchange Commission Nigeria.

DPH CAPITAL MARKETS DIGEST

The Nigerian Exchange (NGX) enters the week of 20 April on extraordinary momentum. The All-Share Index (ASI) closed last Friday 17 April at a new all-time high of 217,167.57 points a weekly gain of +6.20% (+12,679 points), marking the 12th consecutive bullish trading session. Market capitalisation surged to ₦139.8 trillion, representing a gain of ₦8.89 trillion in a single week. The Banking sector led with +11.85% for the week and Oil & Gas gained +17.59%, driven by Zenith Bank, GTCO, Seplat, and Aradel. Q1 2026 delivered N29.83 trillion in total market gains the largest first-quarter gain in Nigeria’s stock market history. The NGX ASI is up approximately 40% year-to-date, establishing Nigeria as one of the world’s best-performing equity markets in 2026.

DPH CAPITAL MARKETS DIGEST – (MARKET WEEKLY COMMENTARY 7th–10th APRIL 2026)

The Nigerian Exchange (NGX) for the week of 7–10 April 2026 recorded a notable rotation: quality large-cap names headlined the gainers list a clear shift from the micro-cap recovery plays and thinly traded names that dominated previous weeks. Trans-Nationwide Express led with +32.75%, while NGX Group itself (+13.94%), GTCO (+10.66%), NASCON (+9.52%), Guinness Nigeria (+9.38%), and Zenith Bank (+8.74%) all featured prominently. The appearance of GTCO, Zenith Bank, Guinness and Nestle Nigeria on the gainers list signals broad-based institutional buying returning to blue-chip counters. On the decliners side, Daar Communications (-21.47%) and RT Briscoe (-20.00%) led losses, with many small-cap and insurance names also retreating.

Nigeria’s Exchange Rate Dynamics: Drivers, Investment Implications & Economic Impact (Q1 Report)

The Nigerian foreign exchange market experienced significant volatility between January and April 2026, with the
USD/NGN rate oscillating between approximately ₦1,335 and ₦1,430. This report examines the key
macroeconomic and structural drivers behind these fluctuations, assesses the implications for investment flows and
capital importation, and evaluates the broader effects on the Nigerian economy. Understanding these dynamics is
critical for investors, portfolio managers, and policymakers navigating Nigeria’s evolving financial landscape.

Daily Market Analysis (16th & 13th Feb 2026)

Tuesday, 17 February 2026 MARKET ANALYSIS System Liquidity (Nigeria) System liquidity commenced the week on a strong note, posting a surplus balance of ₦4.68 trillion, reflecting an increase of ₦360.49 billion compared to the previous session’s surplus position. The improvement was primarily driven by higher placements by Deposit Money Banks (DMBs) at the Central Bank …

Daily Market Analysis (16th & 13th Feb 2026) Read More »

Nigeria’s Non-Interest Capital Market Hits ₦1.6 Trillion — SEC

Nigeria’s non-interest capital market has continued its upward trajectory, reaching a valuation of ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). The development reflects growing investor confidence and a deepening commitment to ethical, Sharia-compliant finance, which is fast becoming a key pillar in Nigeria’s evolving financial landscape. The announcement was made by the …

Nigeria’s Non-Interest Capital Market Hits ₦1.6 Trillion — SEC Read More »

DMO Opens October 2025 FGN Savings Bond Offer

The Debt Management Office (DMO) has announced the opening of the October 2025 issuance of the Federal Government of Nigeria (FGN) Savings Bond, offering Nigerian investors an opportunity to subscribe to secure, low-risk investment instruments with attractive returns. According to the DMO, the offer runs from October 6 to October 10, 2025, with settlement scheduled …

DMO Opens October 2025 FGN Savings Bond Offer Read More »

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