Stock Market Gains 1,010.23 Points as Market Capitalisation Expands by ₦648 Billion
The Nigerian stock market rebounded strongly on Thursday, March 12, 2026, to reverse the previous session’s mild decline as renewed buying interest in industrial and mid-cap counters lifted the benchmark index.
Data from Nigerian Exchange Limited showed that the NGX All-Share Index (ASI) rose from 195,898.53 points to 196,908.76 points, representing a 1,010.23-point gain or 0.52 percent increase.
Market capitalisation advanced from ₦125.750 trillion to ₦126.399 trillion, an approximate ₦648 billion expansion in equity value.
Liquidity and Market Depth
Investors exchanged 549.78 million shares valued at ₦44.74 billion in 55,465 deals.
Although volume declined compared to earlier sessions, traded value surged significantly above ₦40 billion, indicating concentration of liquidity in high-value counters.
This suggests:
Institutional re-entry into large-cap stocks
Stronger capital deployment despite lower deal count
Targeted accumulation rather than broad speculative trading
Top Gainers
Market leadership was broad-based across mid-cap and financial counters:
FTNCOCOA +10.00%
LOTUSHAL15 +9.99%
FIDSON +9.97%
DEAPCAP +9.89%
CAVERTON +9.40%
The rebound in Fidson reflects renewed interest following recent share listing activity.
Top Decliners
Profit-taking was recorded in select counters:
ETERNA -10.00%
OMATEK -10.00%
SCOA -9.94%
FTGINSURE -9.24%
SOVRENINS -9.09%
The declines indicate rotation away from previously strong oil marketing and insurance names.
Most Active Stocks by Volume
Activity concentrated in financial and industrial heavyweights:
FTGINSURE – 32.18 million shares
ACCESSCORP – 28.12 million shares
FIRSTHOLDCO – 27.72 million shares
ZENITHBANK – 27.48 million shares
DANGCEM – 26.89 million shares (₦20.67 billion value traded)
Dangote Cement recorded the highest traded value, accounting for a significant portion of total market turnover, reinforcing large-cap dominance in the session.
ETF Market Performance
Exchange Traded Funds recorded strong upward movement:
NEWGOLD rose from ₦98,999.99 to ₦108,000
SIAMLETF40 advanced to ₦6,476.00
GREENWETF increased to ₦748.80
VETGOODS remained flat
VETBANK declined slightly
ETF capitalisation climbed to ₦96.24 billion, indicating continued diversification into structured investment products alongside equities.
The strong performance in NEWGOLD suggests parallel safe-haven positioning even as equities recover.
Bond Market Activity
Bond instruments remained largely stable:
Bond capitalisation stood at ₦48.14 trillion, reflecting a stable fixed-income environment.
Structural Interpretation
Thursday’s session reflects:
Strong recovery momentum
Concentrated liquidity in large caps
Industrial and mid-cap participation
Continued ETF accumulation
Stable bond backdrop
The sharp ₦648 billion increase in market capitalisation underscores renewed bullish sentiment.
Technical Outlook
With the ASI closing at 196,908.76, the stock market has reclaimed the 196,000 zone and is now approaching 197,000 resistance again.
Key observations:
Turnover value strengthened significantly
Large-cap participation increased
ETF inflows remain firm
200,000 remains a psychological resistance level
If liquidity sustains above ₦40 billion and breadth improves, the stock market may attempt another breakout toward the 198,000–200,000 range.
Failure to sustain liquidity could return the index to consolidation within the 195,500–197,000 band.
Investors King Note
The ₦648 billion market capitalisation gain signals renewed confidence in the stock market after recent consolidation.
While short-term volatility remains, structural momentum remains positive, supported by institutional participation and sustained ETF inflows.
The next directional move will depend on liquidity expansion and broader sector confirmation.
