The Nigerian Exchange (NGX) sustained its bullish momentum into the second week of March, closing the week firmly in the green. The NGX All-Share Index (ASI) advanced by 0.73% week-on-week to settle at 196,968.15 points, while market capitalization rose by ₦923.73 billion to ₦127.36 trillion. Year-to-date, the ASI has gained 27.50%, underscoring strong investor confidence across key sectors.
Trading activity was buoyed by robust performances in the industrial goods, oil & gas, and consumer goods sectors, with notable gains from CONOIL (+20.95%), BUACEMENT (+20.00%), FIDSON (+19.04%), NGXGROUP (+16.93%), and GUINNESS (+11.79%). Meanwhile, profit-taking weighed on SCOA (-34.06%), UACN (-11.49%), REDSTAREX (-10.64%), NASCON (-10.00%), and PRESCO (-10.00%).
Corporate developments also shaped market sentiment, as Linkage Assurance Plc announced a rights issue to raise capital in line with new regulatory requirements. The company will offer 12.32 billion ordinary shares of 50 kobo each at ₦1.32 per share, effective March 11, 2026.
Market turnover stood at 3.32 billion shares worth ₦164.85 billion in 318,907 deals, compared to 3.695 billion shares valued at ₦177.69 billion in 370,980 deals the previous week. The Financial Services Industry led activity with 2.18 billion shares worth ₦59.81 billion, contributing 65.61% and 36.28% to total equity turnover volume and value respectively. Oil & Gas followed with 207.69 million shares worth ₦27.61 billion, while Consumer Goods recorded 189.63 million shares worth ₦11.85 billion.
Top traded equities included ACCESS HOLDINGS PLC, FORTIS GLOBAL INSURANCE PLC, and FIRST HOLDCO PLC, which together accounted for 677.31 million shares worth ₦14.56 billion in 17,346 deals, representing 20.39% of total turnover volume.
Overall, thirty-four equities appreciated in price, sixty-one declined, and fifty-three remained unchanged, reflecting a dynamic trading environment as investors balanced optimism with selective profit-taking.
