By Boluwatife Oshadiya | March 13, 2026, 09:10 AM
Key Points
- Nigerian equities market rebounds as investors gain ₦648.46 billion in a single trading session
- NGX All-Share Index climbs 0.52% to close at 196,908.76 points after two-day sell pressure
- Dangote Cement dominates trade value, accounting for more than 46% of market turnover
Main Story
The Nigerian stock market rebounded on Thursday, delivering a ₦648.46 billion gain in market capitalisation as investors returned to bargain hunting following two consecutive days of sell pressure on the Nigerian Exchange (NGX).
Market data showed the NGX All-Share Index (ASI) rose by 1,010.23 points, or 0.52%, to close at 196,908.76, pushing total market capitalisation to ₦126.40 trillion.
The rally was largely driven by renewed investor appetite for mid-cap and blue-chip stocks, particularly in the industrial and consumer goods sectors.
Despite the market’s upward movement, trading volume declined by 18.10%, with 549.78 million shares exchanged in 55,465 deals. However, the total value of transactions surged by 71.18% to ₦44.74 billion, reflecting stronger activity in high-value equities.
Dangote Cement Plc dominated trading value, accounting for 46.26% of total turnover, making it the most valuable stock traded during the session.
On the volume chart, FTGINSURE led activity, representing 5.89% of all shares traded, followed by Access Holdings (5.15%), First HoldCo (5.08%), Zenith Bank (5.03%), and Dangote Cement (4.93%).
Market gainers were led by FTN Cocoa, which surged 10.00%, followed closely by Fidson Healthcare (+9.97%), DEAP Capital (+9.89%), Caverton Offshore (+9.40%), Livestock Feeds (+9.30%), and Sterling Financial Holdings (+9.03%).
However, 29 equities declined, with Eterna Plc and Omatek Ventures posting the steepest losses at 10.00% each. Other laggards included SCOA Nigeria (-9.94%), FTGINSURE (-9.24%), Sovereign Trust Insurance (-9.09%), and Legend Internet (-8.40%).
Sector performance was mixed. The Industrial Goods Index advanced 1.88%, while the Consumer Goods Index rose 0.25%. Conversely, the Insurance sector declined 0.71%, Banking fell 0.45%, and Oil and Gas dropped 0.29%.
Overall market breadth remained slightly positive, with 30 gainers against 29 losers.
What’s Being Said
“The rebound reflects renewed bargain hunting in fundamentally strong stocks after recent profit-taking pressure,” said Muyiwa Oni, Head of Equity Research at Cordros Capital.
“Institutional investors are positioning ahead of expected earnings releases and dividend announcements, particularly in the banking and industrial sectors,” Oni added.
Meanwhile, a market update from the Nigerian Exchange noted that the surge in trade value suggests large-ticket transactions from institutional investors, particularly in blue-chip counters.
What’s Next
- Investors are expected to focus on corporate earnings releases and dividend declarations as listed companies begin preparing first-quarter performance guidance.
- Analysts will also watch institutional positioning in banking and industrial stocks, which have driven much of the market’s rally in recent months.
- Continued foreign portfolio inflows could provide additional momentum if macroeconomic indicators remain stable.
