NGX Gains 2.15% As Market Cap Hits N126.4trn

Trading activities on the Nigerian equities market closed the first week of March on a positive note as investors pushed the benchmark index higher, despite a decline in overall turnover compared with the previous week.

Data released by the Nigerian Exchange Limited showed that the market capitalisation and the All Share Index (ASI) both recorded gains during the week ended March 6, 2026, reflecting renewed investor interest in select stocks across major market sectors.

The report indicated that the ASI rose by 2.15 per cent to close the week at 196,968.15 points from 192,826.78 recorded in the preceding week. In the same vein, the total market capitalisation appreciated by 2.16 per cent to settle at N126.437 trillion.

Despite the benchmark index’s bullish close, market turnover weakened as investors traded a total of 3.695 billion shares valued at N177.687 billion in 370,980 deals during the week. This represented a decline from the 5.494 billion shares worth N196.709 billion exchanged in 370,233 deals in the previous week.

A breakdown of sectoral performance showed that the financial services industry dominated trading activities during the week. The sector accounted for 2.444 billion shares valued at N72.029 billion in 145,628 deals, representing 66.14 per cent of total traded volume and 40.54 per cent of the total value recorded on the exchange.

The oil and gas sector followed with 326.073 million shares valued at N39.510 billion in 36,458 deals, while the services sector came third with a turnover of 218.374 million shares worth N2.012 billion in 18,575 deals.

Trading activities in the top three equities, namely Jaiz Bank Plc, Fortis Global Insurance Plc and Access Holdings Plc, accounted for 661.242 million shares valued at N8.062 billion in 38,534 deals. These transactions represented 17.90 per cent of the total volume traded and 4.54 per cent of the overall market value recorded during the week.

Performance across sectoral indices was largely positive, with most indices closing higher at the end of the week. The NGX Oil and Gas Index recorded one of the strongest gains, rising by 9.43 per cent. Similarly, the NGX Industrial Goods Index advanced by 3.89 per cent, while the NGX Lotus II Index appreciated by 4.72 per cent. The NGX Premium Index also climbed by 2.76 per cent, while the NGX Pension Index rose by 2.68 per cent, reflecting strong demand for fundamentally sound stocks across the market.

However, not all sectors shared in the bullish sentiment. The NGX Insurance Index declined by 1.88 per cent, while the NGX Consumer Goods Index slipped marginally by 0.09 per cent. The NGX MERI Value Index recorded a slight dip of 0.01 per cent, while the NGX Growth Index posted the steepest decline, falling by 15.31 per cent during the review period.

In terms of price movement, market breadth improved slightly compared with the previous week. A total of 44 equities recorded price appreciation during the week, up from 32 in the preceding week. On the flip side, 58 equities depreciated in price, lower than the 69 losers posted the previous week, while 46 equities closed unchanged compared with 47 recorded earlier.

Among the top performing stocks, Fortis Global Insurance Plc emerged as the biggest gainer, rising by 58.51 per cent to close at N1.49 from an opening price of N0.94. Premier Paints Plc followed with a gain of 32.73 per cent, while Eterna Plc advanced by 28.72 per cent during the week.

Other notable gainers included Nigerian Exchange Group, which rose by 21.73 per cent, UACN Plc, which appreciated by 20.63 per cent, and Custodian Investment Plc, which gained 20.44 per cent. Aradel Holdings Plc and Oando Plc also recorded strong performances, gaining 19.96 per cent and 18.90 per cent respectively.

Conversely, McNichols Plc led the decliners, shedding 24.44 per cent of its value. Mecure Industries Plc fell by 18.92 per cent, while Multiverse Mining and Exploration Plc dropped by 18.72 per cent. Jaiz Bank Plc also recorded a decline of 18.45 per cent during the week.

Meanwhile, the exchange recorded additional listings during the week. Fidson Healthcare Plc listed 105,003,725 ordinary shares under its employee share scheme, increasing its total issued and fully paid shares from 2,294,996,275 to 2,400,000,000.

Similarly, Chapel Hill Denham Management Limited listed 68,158,000 units of its Series 5 Nigeria Real Estate Investment Trust under its N400 billion issuance programme, raising the trust’s total outstanding units on the exchange to 1,656,775,222.