Oil & Gas and Banking Fuel NGX’s Explosive Week; What Investors Need to Know

The Nigerian Exchange (NGX) delivered its most impressive weekly performance of 2026 in the trading week ended Friday, April 17, 2026. The All-Share Index (ASI) climbed to a new all-time high to close the week at 217,167.57 points, marking a significant weekly gain of 6.20% from 204,487.85 points at the start of the trading week.

The market capitalization sharply to N139.80 trillion from around N131.2 trillion at the start of the week, adding approximately N8.89 trillion in value for investors.

This impressive performance was driven by robust gains in the oil & gas and banking sectors amid strong institutional buying, positive macroeconomic sentiment, and sustained investor confidence. This underscores the resilience of Nigerian equities, with the market capitalization surging past N139 trillion and year-to-date (YTD) returns reaching an impressive 39.56%.

Investor participation remained elevated throughout the week as 3.588 billion shares were traded, higher than 3.361 billion shares traded in the previous week.

The market breadth was positive, with 61 stocks advancing, 36 declining, and 49 closing flat, a clear improvement from the previous week

NGX Premium Index posted a gain of 8.05%, outperforming the broader market on account of solid performance of First Holdco, Access, Zenith Bank, MTN, Seplat and others

The NGX 30 Index and NGX Main Board Index also posted gains of 6.99% and 5.75%, respectively.

Sectoral Performance

NGX Oil & Gas Index topped the sector by 17.59%, Fueled by gains in Aradel Holdings (+28.93%), Seplat Energy (+9.42%), Oando (+3.66%), and Japaul Gold (+10.92%). Rising global oil prices and improved local production outlook boosted the rally.

NGX Banking Index followed with 11.85% gain, supported by the ongoing CBN recapitalization drive. Key movers included Ecobank Transnational (+46.30%), Stanbic IBTC (+36.63%), First Holdco (+22.96%), Access Holdings (+15.00%), and Zenith Bank (+12.50%).

NGX Consumer Goods Index posted a modest gain of 3.39% while the Industrial Goods Index gained 1.26%.

On the bearish side, the NGX Insurance Index saw a minor decline of 0.04%

Market Highlight

ASI Weekly Close: 217,167.57 points
Month-on-month Change: 7.89%
Year-to-Date Return: 39.56%
Market Capitalization: N139.827 trillion

Top Gainers

• Trans-Nationwide Express Plc: up 60.48%
• Ecobank Transnational Incorporated Plc: up 46.30%
• Stanbic IBTC Holdings Plc: up 36.63%
• Royal Exchange Plc: up 29.37%
• Aradel Holdings Plc: up 28.93%
• First Holdco Plc: up 22.96%

Top Losers

• Coronation Insurance Plc: down 14.38%
• Ikeja Hotel Plc: down 14.36%
• International Energy Insurance Plc: down 13.80%
• Academy Press Plc: down 12.57%
• Honeywell Flour Mill Plc: down 11.01%
• Berger Paints Plc: down 9.95%
• Austin Laz & Company Plc: down 9.77%

The week ended April 17, 2026, was not just another positive session; it was a defining moment that highlighted the depth and resilience of the Nigerian capital market.