Big banks halt All-Share Index’s 14-session winning streak

The Nigerian equities market closed lower on April 27, slipping 0.94% to 223,602.29, as declines in large-cap banking stocks weighed heavily on the benchmark index.

This decline represents a 2,121.20-point drop from the previous session’s close of 225,722.49, effectively snapping a strong 14-session winning streak.

Trading activity was relatively soft, with 678.1 million shares exchanged across 82,838 deals, while market capitalisation eased to N143.9 trillion from N145.3 trillion in the prior session.

By volume, Zenith Bank and Wema Bank led trading activity, with Zenith Bank also topping the value chart, recording N9.5 billion worth of shares traded.

Trading sentiment turned bearish on April 27, 2026, as the year-to-date return eased to 43.69% from 45.05% in the previous session.

Zenith Bank led trading activity by volume with 76 million shares, followed by Wema Bank at 49.9 million and Access Holdings at 39.1 million shares traded.

Tantalizers also recorded notable activity with 30.0 million shares, while AIICO followed closely with 28.2 million shares exchanged on the day.

In value terms, Zenith Bank led with N9.5 billion, followed by MTN at N4.2 billion and Aradel at N3.5 billion, with Lafarge and GTCO recording N2.6 billion and N2.2 billion respectively.

Among stocks worth over one trillion naira (SWOOTs), performance was broadly mixed, with select names posting modest gains while others closed in the red.

Declines in large banking stocks were the primary driver of the downward trend, bringing an end to the market’s 14-session winning streak.

Market activity remained relatively soft, with daily trading volume stalling at around 678 million shares.

Even at 223,602.29, the Nigerian All-Share Index appears overbought and could see a retracement, which may linger depending on how long large-cap stocks continue to decline.