Nigeria stocks defy shortened week to post massive N1.77trn gain

The Nigerian Exchange Limited (NGX) capped off a historic, albeit brief, trading week with a gain of N1.77 trillion in market capitalisation.

Despite the week being shortened to only three trading days (Monday to Wednesday) due to the Eid-el-Fitr public holidays on March 19 and 20, 2026, the market sustained its bullish momentum.

The NGX All-Share Index (ASI) and Market Capitalisation appreciated by 1.39 percent to close the trading week to Wednesday, March 18 at 201,156.86 points and N129.126 trillion respectively from a low of 198,407.30 points and N127.361 trillion respectively in the preceding week.

This marks a massive milestone as the index officially crossed and sustained the 200,000-point threshold for the first time in history.
The market’s performance remains one of the strongest globally, with year-to-date (YtD) gains now hovering around 30 percent.

The week’s activity was heavily concentrated in three specific stocks, which accounted for approximately 69.44 percent of the total equity turnover volume. These stocks are
E-Tranzact International Plc, FCMB Group Pl, and Wema Bank Plc.

Trading in these top three equities, measured by volume, accounted for 6.084 billion shares worth N40.661billion in 5,570 deals, contributing 69.44 percent and 15.21 percent to the total equity turnover volume and value respectively.

In the holiday shortened week, forty-eight (48) equities appreciated in price, higher than thirty-four (34) equities in the preceding week. Forty-three (43) equities depreciated in price, lower than sixty-one (61) equities in the preceding week, while fifty-seven (57) equities remained unchanged, higher than fifty-three (53) recorded in the preceding trading week.

The market recorded a total turnover of 8.761 billion shares worth N267.253 billion traded in 193,473 deals by investors on the floor of the Exchange, in contrast to a total of 3.321 billion shares valued at N164.845 billion that exchanged hands the preceding week in 318,907 deals.

All other indices finished the week higher with the exception of NGX Insurance, NGX AFR Div Yield, NGX Consumer Goods, NGX Oil & Gas, NGX Lotus II and NGX Commodity which depreciated by 0.42 percent, 2.34 percent, 0.10 percent, 4.78 percent, 2.76 percent and 4.91 percent respectively while the NGX Sovereign Bond index closed flat.

The ICT Industry (measured by volume) led the activity chart with 5.330 billion shares valued at N46.825 billion traded in 21,573 deals: thus contributing 60.84 percent and 17.52 percent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with
2.765 billion shares worth N95.892 billion in 75,103 deals. Third place was the Consumer
Goods Industry, with a turnover of 174.484 million shares worth N20.805 billion in 20,693 deals.