Bullish sentiment persists despite lower trading volumes, with International Breweries and tier-one banks driving market activity….
Nigeria’s equities market closed on a strong note on April 10, 2026, as the benchmark index extended its rally to a fresh record high, underscoring sustained investor confidence despite softer trading activity.
The Nigerian All-Share Index rose by 0.30 percent to settle at 203,770.4 points, gaining 608.6 points from the previous session. This pushed total market capitalisation to an impressive ₦131.1 trillion, marking another milestone for the market.
The upward movement came even as trading activity slowed, with total volume declining to 548 million shares, down from 652 million in the prior session. These trades were executed in 48,538 deals, with a combined value of ₦31.4 billion.
Market sentiment remained firmly bullish, with the year-to-date return holding at nearly 31 percent, highlighting the resilience of Nigerian equities amid broader economic pressures.
A major driver of the day’s performance was International Breweries, which surged by 9.88 percent to rank among the top gainers and stand out as the strongest performer among large-cap stocks.
Other notable gainers included Trans Nationwide Express, Chams, Guinness, and Lafarge Africa, all posting significant price increases.
On the flip side, profit-taking dragged down stocks such as Omatek, Austin Laz, Coronation Insurance, Zichis Agro-Allied, and Cornerstone Insurance, which led the losers’ chart.
Trading activity was largely dominated by banking heavyweights. Access Holdings led in volume with 52.7 million shares traded, followed closely by Zenith Bank and United Bank for Africa.
Other active stocks included Secure Electronic Technology, while Guaranty Trust Holding Company also recorded strong participation.
In terms of value, Aradel Holdings topped the chart with transactions worth ₦6.49 billion, followed by Zenith Bank and GTCO. MTN Nigeria and Lafarge Africa rounded out the top five by trade value.
Performance among the FUGAZ banking group was mixed. GTCO led the gainers, while UBA and First HoldCo posted modest increases. Access Holdings and Zenith Bank ended the session largely unchanged, reflecting subdued price movements among some tier-one lenders.
Despite the overall positive close, much of the market’s momentum was concentrated in a handful of stocks, particularly International Breweries, whose strong rally played a significant role in lifting the broader index.
With the All-Share Index now at its highest level on record, investors are watching closely to see whether the bullish trend can be sustained especially as trading volumes remain relatively subdued and broader economic uncertainties persist.
