Nigerian Exchange All-Share Index Crosses 197,000 for the First Time — The Business Bureau
By Queen Madaki | The Business Bureau
LAGOS, Nigeria — The Business Bureau reports that the Nigerian Exchange (NGX) reached a historic milestone on March 9, 2026, as the All-Share Index crossed the 197,000 mark for the first time.
The benchmark index rose by 228.8 points to close at 197,197.0, extending the stock market’s strong performance in 2026 and reinforcing investor confidence in Nigerian equities.
Market capitalization followed the upward trend, increasing slightly to N126.5 trillion across 86,488 deals, compared with N126.43 trillion recorded in the previous trading session.
Trading Activity Shows Moderate Strength
Trading activity during the session reflected improving investor participation.
Total volume traded climbed to 762.5 million shares, up from 585 million shares recorded in Friday’s session, suggesting cautious but strengthening market engagement.
In terms of value, Aradel led market turnover with transactions worth N5.07 billion, followed by Zenith Bank with N3.6 billion.
Other notable contributors to trading value included NGX Group at N2.4 billion, Okomu Oil at N2.07 billion, and MTN Nigeria at N1.8 billion.
Market Data Signals Strong Investor Confidence
Overall market sentiment remained bullish, with the Nigerian Exchange maintaining a year-to-date return of 26.72 percent.
Analysts say the strong performance reflects steady investor confidence in key sectors of the Nigerian economy despite ongoing macroeconomic uncertainties.
Buying interest lifted several stocks during the session, while profit-taking led to declines in others.
Top Gaining Stocks
Several equities posted strong gains during the trading day:
- Conoil — up 10.00% to N185.90
- Omatek — up 10.00% to N2.42
- Legend Internet — up 10.00% to N7.04
- NGX Group — up 9.97% to N166.00
- Oando — up 9.96% to N54.65
Top Declining Stocks
Some equities experienced losses due to profit-taking activity:
- Aluminum Extrusion — down 10.00% to N13.95
- SCOA — down 9.90% to N30.95
- RT Briscoe — down 9.87% to N10.87
- Sunu Assurance — down 9.81% to N4.32
- Union Dicon — down 9.76% to N14.80
Most Actively Traded Stocks
In terms of trading volume, Fortis Global Insurance recorded the highest activity with 127.4 million shares exchanged.
Access Holdings followed with 48.2 million shares, while Zenith Bank traded 39.7 million shares.
Other active stocks included Chams Holding with 30 million shares and Jaiz Bank with 27.2 million shares.
SWOOT Stocks Show Mixed Performance
Among SWOOTs—stocks with market capitalisation above N1 trillion—performance during the session was mixed.
International Breweries led gains in the category, rising by 8.09 percent, while Aradel advanced by 3.05 percent.
However, Nigerian Breweries declined by 2.44 percent, and Wema Bank recorded a slight drop of 0.92 percent.
FUGAZ Banks Record Varied Results
Performance among the FUGAZ banking stocks was also mixed during the trading session.
Zenith Bank recorded a marginal gain of 0.05 percent.
Meanwhile, First HoldCo and Access Holdings declined significantly, falling by 3.85 percent and 3.66 percent respectively.
United Bank for Africa (UBA) shed 1.26 percent, while Guaranty Trust Holding Company (GTCO) slipped by 0.84 percent.
Market Outlook
Despite the latest gains, analysts note that price action in the All-Share Index appears relatively weak when compared with overall trading volume.
From a technical standpoint, the market is currently considered overbought, suggesting that some stocks may experience short-term retracement in upcoming trading sessions.
However, any pullback is expected to remain shallow to moderate depending on the intensity of selling pressure and investor sentiment in the broader market.