By Boluwatife Oshadiya | March 31, 2026
Key Points
- Nigerian Exchange ASI declines 0.21% to 200,484.43 points
- Losses in banking and industrial stocks drag market lower
- Trading volume dips while total value rises to ₦25.6 billion
Main Story
The Nigerian Exchange opened the week on a negative note as investors engaged in portfolio rebalancing ahead of the close of the first quarter.
The All-Share Index declined by 0.21% to settle at 200,484.43 points, while market capitalisation dropped to ₦128.7 trillion. Losses in key heavyweights including Zenith Bank, GTCO, and Lafarge Africa offset gains recorded in select counters such as NAHCO and First Holdco.
Market breadth remained negative at 0.76x, with 34 decliners outpacing 26 gainers. Austin Laz emerged as the top performer with a 9.98% gain, while NSL Tech recorded the steepest loss at 10%.
Trading activity showed mixed signals, as total volume traded declined marginally to 593.3 million units, while value traded rose by 4.83% to ₦25.6 billion. AccessCorp led in volume, while First Holdco dominated value trades.
Sectoral performance was largely bearish, with declines recorded across Insurance, Banking, Industrial Goods, and Consumer Goods indices. The Oil & Gas index was the only gainer, supported by price appreciation in Oando.
What’s Being Said
“The market is witnessing profit-taking and repositioning ahead of Q1 earnings releases,” said an equities analyst at a Lagos-based brokerage firm.
“Investors are becoming more selective, focusing on fundamentally strong stocks,” the analyst added.
What’s Next
- Investors will shift focus to Q1 earnings season in April
- Market direction likely to hinge on corporate performance disclosures
- Continued sector rotation expected in the near term
The Bottom Line: The NGX’s decline reflects tactical repositioning rather than a structural selloff, with investor attention now turning to earnings catalysts that will define second-quarter momentum.
