Nigeria’s equities market extended its bullish run on April 21, 2026, as the All-Share Index (ASI) closed at a new record high of 218,249.81 points, driven largely by gains in heavyweight stocks led by Lafarge Africa.
The index rose by 135.97 points, representing a modest 0.06 per cent increase from the previous session’s close of 218,113.84 points, according to data from the Nigerian Exchange.
Despite the positive close, trading activity weakened, with total volume declining to 842.4 million shares from 983 million shares recorded in the previous session. However, market capitalisation edged higher to N140.5 trillion from N140.4 trillion, reflecting sustained investor confidence.
Market sentiment remained broadly bullish, supported by strong year-to-date returns of 40.26 per cent, as investors continued to take positions in fundamentally strong stocks.
Among the top gainers, Nascon Allied Industries led with a 10 per cent increase, followed closely by Union Dicon Salt, which gained 9.92 per cent. Lafarge Africa also recorded a significant rise of 9.64 per cent, reinforcing its influence on market direction.
Other notable gainers included Trans-Nationwide Express and UACN, which posted strong price appreciation during the session.
On the downside, profit-taking activities weighed on some stocks, with Legend Internet and Abbey Mortgage Bank recording declines of 9.92 per cent and 9.59 per cent, respectively.
In terms of trading volume, Access Holdings dominated with 110.8 million shares exchanged, followed by FCMB and Fidelity Bank. Other actively traded stocks included Zenith Bank and United Bank for Africa.
By value, MTN Nigeria led with N6.5 billion in transactions, ahead of Zenith Bank and GTCO, highlighting sustained institutional interest in large-cap equities.
Within the category of Stocks Worth Over One Trillion (SWOOTS), Lafarge Africa and Dangote Cement posted gains, helping to sustain the market’s upward trajectory. However, losses in stocks such as International Breweries and BUA Cement reflected pockets of sell pressure.
Performance among tier-one banking stocks, commonly referred to as FUGAZ, was mixed. While First Holdco and GTCO recorded marginal gains, Access Holdings, UBA, and Zenith Bank posted declines, indicating uneven investor sentiment within the banking sector.
Market analysts note that although the index is approaching overbought territory above the 218,000 level, sustained momentum in large-cap stocks could push it further toward the 220,000 mark.
The latest rally underscores the continued dominance of blue-chip stocks in shaping market direction, even amid declining trading volumes.
