NGX Bulls Take Charge, Lift Market Cap By N8.66trn

The Nigerian Exchange Ltd. closed out the trading week on a commanding note, delivering its most robust performance in recent sessions as bulls dominated across virtually every segment of the market. Aggregate market capitalisation swelled by N8.661 trillion — a 6.60 per cent advance — to settle at N139.827 trillion, up from N131.166 trillion at the close of the preceding week.
The NGX All-Share Index, the broadest measure of equity performance on the bourse, rose 6.57 per cent to 217,167.57, advancing from a base of 203,770.43 recorded the week before. The climb extended a recovery trend that has gathered momentum in recent weeks, with market breadth tilting decisively in favour of gainers.
Trading Volume and Value
Turnover data underscored the week’s elevated activity levels. Investors exchanged 3.588 billion shares across 254,553 deals, with the total value of transactions reaching N195.313 billion. By comparison, the previous week saw 3.361 billion shares trade hands in 229,442 deals worth N151.948 billion — meaning both volume and deal count grew week-on-week, with aggregate transaction value rising by more than N43 billion.
Sector-by-Sector Breakdown
Financial Services remained the engine room of equity trading, as is customary. The sector accounted for 2.498 billion shares valued at N94.005 billion across 111,052 deals, translating to a 69.62 per cent share of total volume and 48.13 per cent of total value. The dominance reflects the weight of banking and insurance counters on the NGX.
The Services sector finished second, recording 329.034 million shares worth N3.452 billion in 14,050 deals, while Oil and Gas claimed third position with 152.472 million shares valued at N42.511 billion across 19,022 transactions — a relatively modest volume contribution but a notably high value per share, reflecting the weight of upstream and downstream energy stocks.
Most-Traded Equities
Three counters — Sterling Financial Holdings Company Plc, Access Holdings Plc, and Zenith Bank Plc — jointly dominated activity, accounting for 1.038 billion shares worth N46.081 billion in 33,067 deals. Their combined contribution represented 28.92 per cent of total turnover volume and 23.59 per cent of value, affirming the outsized influence of large-cap financial stocks on daily market dynamics.
Market Breadth: Gainers Overwhelm Losers
Market breadth, a gauge of overall sentiment, swung sharply positive. Sixty-one equities recorded price appreciation during the week — more than double the 25 that advanced in the preceding week. Decliners fell to 36, from 54 previously, while 49 stocks closed unchanged, down from 67.
Trans-Nationwide Express Plc (+N2.28), Ecobank Transnational Incorporated (+N21.30), Stanbic IBTC Holdings Plc (+N50.55), Royal Exchange Plc (+42k), and Aradel Holdings Plc (+N370) led the gainers’ table. On the other side of the ledger, Coronation Insurance Plc (-42k), Ikeja Hotel Plc (-N5.60), International Energy Insurance Plc (-49k), Academy Press Plc (-N1.10), and Honeywell Flour Mills Plc (-N2.35) posted the steepest declines.
Insurance Firms Activate Rights Issue Trading
Beyond equities trading, the NGX notified Trading Licence Holders of newly activated codes for rights issues by three insurance companies. The exchange explained that the codes would allow qualifying investors to trade in the offers after their respective qualification dates.
“This enables investors to trade in the offers following their respective qualification dates,” NGX stated.
Trading in the rights issue of Guinea Insurance Plc commenced on 25 March 2026, open to shareholders on the company’s register as of 21 January. Lasaco Assurance Plc followed, with rights issue trading beginning on 2 April for shareholders of record as of 20 February.