LAGOS — The Nigerian Exchange (NGX) navigated a shortened four-day trading week with surprising resilience as investors positioned themselves for the Q2 stretch.
Despite the Easter holidays on April 3 and 6, 2026, the market closed on a positive note, with the All-Share Index (ASI) rising by 0.39% to settle at 201,698.89 points.
According to a weekly market wrap on April 5, 2026, the “Easter Rally” was primarily driven by a rebound in the banking sector and selective interest in consumer goods, lifting the total market capitalization to ₦129.81 trillion.
The Easter Week Top Performers (NGX)
While broader market breadth remained cautious, these five stocks decoupled from the trend to deliver significant double-digit returns for investors.
| Rank | Stock | Weekly Gain (%) | Closing Price (₦) | Sector |
| 1 | Multiverse Mining | +20.66% | ₦20.15 | Natural Resources |
| 2 | Unilever Nigeria | +10.00% | ₦103.40 | Consumer Goods |
| 3 | Fortis Global Insurance | +9.82% | ₦1.23 | Financial Services |
| 4 | Cadbury Nigeria | +9.05% | ₦32.10 | Consumer Goods |
| 5 | NAHCO | +8.85% | ₦45.70 | Services (Aviation) |
Sector Spotlight: What Drove the Gains?
1. The Mining Breakout: Multiverse (+20.66%)
Multiverse Mining & Exploration emerged as the undisputed champion of Easter week. The stock’s rally is tied to renewed investor interest in Nigeria’s solid minerals sector following a series of successful lithium and gold exploration reports. As global commodity prices remain volatile, local investors are viewing Multiverse as a strategic hedge.
2. Consumer Goods Rebound: Unilever & Cadbury
The “Easter Shopping Effect” translated into a stock market boost for Unilever and Cadbury. Both firms recorded nearly 10% gains as traders anticipated stronger-than-expected Q1 volume growth. Unilever’s 10% jump to ₦103.40 reflects high confidence in its recent operational restructuring and improved supply chain efficiency.
3. Volume Drivers: Banking Liquidity
While they didn’t lead the percentage gains, Access Holdings and Wema Bank were the “Volume Kings” of the week. Access Holdings saw massive cross-deals as institutional funds repositioned after the Easter break, while Wema Bank continues to attract retail attention following its aggressive digital banking (ALAT) expansion.
Market Summary: By the Numbers
- Market Capitalization: Gained ₦837 billion week-on-week, supported by the new share listings of VFD Group and FCMB Group.
- Year-to-Date (YTD) Return: Improved to 29.62%, solidifying the NGX’s position as one of the best-performing exchanges in Africa for 2026.
- The “Laggards”: On the flip side, May & Baker (-16.57%) and Nestle (-10.00%) faced profit-taking as investors rotated capital into the high-growth mining and banking sectors.
The Dominance of Multiverse
The 2026 Easter week proved that despite holiday lulls, there is significant “Alpha” to be found in the Nigerian market through selective stock picking.
The dominance of Multiverse suggests a shift toward non-oil exports, while the steady climb of Unilever shows that consumer brand equity remains a powerful defensive play in an inflationary environment.
