By Boluwatife Oshadiya | March 24, 2026
Key Points
- Nigerian equities add ₦1.77 trillion in one week despite shortened trading sessions
- NGX All-Share Index climbs 1.39% to 201,156.86 points
- Industrial goods and banking stocks drive bulk of gains
Main Story
The Nigerian stock market extended its bullish run for a third consecutive week, with total market capitalisation rising by ₦1.77 trillion to ₦129.13 trillion, according to trading data from the Nigerian Exchange (NGX).
The rally came despite a shortened trading week due to the Eid al-Fitr public holidays on March 19 and 20, underscoring sustained investor appetite across key sectors.
The NGX All-Share Index (ASI) advanced by 1.39% week-on-week to close at 201,156.86 points, supported largely by strong buying interest in industrial goods and banking stocks. Market activity remained robust, with total traded volume surging to 8.761 billion shares valued at ₦267.25 billion, compared to 3.321 billion shares worth ₦164.85 billion recorded in the previous week.
Top gainers included BUA Cement Plc (+21.00%), Premier Paints Plc (+20.62%), Zenith Bank Plc (+14.64%), Guinness Nigeria Plc (+9.92%), and Ikeja Hotel Plc (+8.33%). However, declines were recorded in 43 equities, led by Presco Plc (-18.37%), Eterna Plc (-12.77%), and Red Star Express Plc (-9.98%).
Sectoral performance was mixed, with the ICT sector dominating trading activity by volume, accounting for 60.84% of total turnover, followed by financial services and consumer goods.
What’s Being Said
“We expect cautious trading in the near term, with investors focusing on fundamentally strong stocks with attractive valuations,” said analysts at Futureview Financial Services.
“The sustained rally reflects resilient market sentiment, but profit-taking in key counters may limit upside momentum,” a Lagos-based stockbroker told BizWatch Nigeria.
What’s Next
- Continued earnings releases expected to shape investor sentiment in late March
- Institutional investors likely to rebalance portfolios ahead of Q2
- Market direction to depend on macro signals including inflation and FX stability
The Bottom Line: Nigeria’s equity market is showing resilience despite macroeconomic uncertainty, but the sustainability of the rally will depend on earnings strength and broader economic stability.
