Nigerian Stock Market Gains 1.39% in Holiday-Shortened Week as ASI Closes at 201,156.86
The Nigerian Exchange Limited (NGX) closed the week ended March 18, 2026 on a positive note as the All-Share Index (ASI) advanced by 1.39 percent to settle at 201,156.86 points.
The market recorded gains despite operating for only three trading sessions during the week following the Federal Government’s declaration of Thursday, March 19 and Friday, March 20, 2026 as public holidays for Eid-el-Fitr celebration.
Equity market capitalization rose in line with the ASI to close at ₦129.13 trillion, reflecting sustained investor confidence and continued demand for select equities.
Weekly Market Performance
A total of 8.761 billion shares valued at ₦267.25 billion were traded in 193,473 deals during the week. This represents a significant increase compared to the previous week’s 3.321 billion shares worth ₦164.85 billion exchanged in 318,907 deals.
The sharp increase in volume indicates strong market participation driven largely by institutional trades and repositioning across key sectors.
Sectoral Performance
The ICT sector dominated market activity by volume, accounting for 5.33 billion shares valued at ₦46.83 billion, representing 60.84 percent of total traded volume.
Financial Services followed with 2.77 billion shares worth ₦95.89 billion, while the Consumer Goods sector recorded 174.48 million shares valued at ₦20.81 billion.
Most Active Stocks
The top three equities by volume, E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc, accounted for 6.084 billion shares worth ₦40.66 billion, contributing 69.44 percent and 15.21 percent to total volume and value, respectively.
This highlights strong concentration in a few highly traded stocks during the week.
Daily Trading Breakdown
- March 16: 948.11 million shares valued at ₦49.15 billion
- March 17: 1.75 billion shares valued at ₦88.07 billion
- March 18: 6.06 billion shares valued at ₦130.04 billion
The spike on March 18 reflects significant block trades and heavy institutional participation.
Top Weekly Gainers
- John Holt Plc: +25.40%
- BUA Cement Plc: +21.00%
- Premier Paints Plc: +20.62%
- Zenith Bank Plc: +14.64%
- Learn Africa Plc: +13.33%
- Austin Laz & Company Plc: +12.66%
- Livestock Feeds Plc: +12.50%
- The Initiates Plc: +10.68%
- Guinness Nigeria Plc: +9.92%
- Ikeja Hotel Plc: +8.33%
Top Weekly Losers
- Zichis Agro Allied Industries Plc: -50.58%
- Presco Plc: -18.37%
- DAAR Communications Plc: -13.55%
- Eterna Plc: -12.77%
- Red Star Express Plc: -9.98%
- Aradel Holdings Plc: -9.68%
- Omatek Ventures Plc: -9.23%
- Deap Capital Management Plc: -7.86%
- VFD Group Plc: -7.60%
- Veritas Kapital Assurance Plc: -6.96%
Market Breadth
A total of 48 equities gained during the week, higher than 34 recorded in the previous week. Meanwhile, 43 equities declined compared to 61 in the prior week, while 57 equities remained unchanged.
This reflects an overall improvement in market breadth.
ETF and Bond Market Activity
A total of 6.79 million ETF units valued at ₦649.50 million were traded in 4,236 deals, compared to 4.43 million units worth ₦741.65 million recorded in the previous week.
In the bond segment, 25,552 units valued at ₦25.91 million were traded across 8 deals, significantly lower than the previous week’s activity.
Market Outlook
The Nigerian stock market maintained a bullish trajectory during the week, supported by strong gains in banking, industrial, and select consumer goods stocks.
The sharp rise in trading volume, particularly on March 18, suggests increased institutional participation and portfolio repositioning ahead of earnings releases and dividend declarations.
However, sector-specific weaknesses in oil and gas, insurance, and consumer goods indicate that investors remain selective, with capital flowing into high-performing and fundamentally strong stocks.
Going forward, analysts expect mixed sentiment to persist, with continued interest in banking and industrial equities likely to sustain market performance, while profit-taking in recently appreciated stocks may introduce short-term volatility.
