Nigerian stock market crosses 197,000 threshold for the first time ever

2026-03-12 11:04:49

The Nigerian Exchange crossed the 197,000-mark for the first time ever on 9 March 2026, with the All-Share Index rising 228.8 points to close at 197,197.0

Trading activity showed moderate strength, with volume rising to 762.5 million shares from 585 million, reflecting cautious but improving investor participation.

Equity capitalization followed suit, increasing slightly to N126.5 trillion across 86,488 deals, up from N126.43 trillion in Friday’s session.

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Leading the market in value, Aradel topped with N5.07 billion, followed by Zenith Bank at N3.6 billion, driving the day’s most significant transactions.

What the data is saying

Market momentum remained bullish on 9 March 2026, with the year-to-date return holding firm at 26.72%, reflecting steady investor confidence.

Buying interest lifted select stocks, with Conoil, Omatek, and Legend Internet each gaining 10% during the session, while profit-taking pressured Aluminum Extrusion Industries and SCOA, which fell 10% and 9.90%, respectively.
In terms of trading volume, Fortis Global Insurance led with 127.4 million shares, followed by Access Holdings at 48.2 million and Zenith Bank at 39.7 million shares, with Chams Holding (30 million) and Jaiz Bank (27.2 million) also seeing notable activity.

By value, Aradel topped the turnover at N5.07 billion, ahead of Zenith Bank (N3.6 billion), NGX Group (N2.4 billion), Okomu Oil (N2.07 billion), and MTN (N1.8 billion), highlighting where investor focus was strongest.

Top 5 Gainers

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 5 Losers

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

SWOOTs Performance

Among the SWOOTs—stocks valued above N1 trillion—performance was mixed during the session, reflecting selective investor interest across high-cap stocks.

International Breweries led the gainers, rising 8.09%, while Aradel added 3.05% to its value.

On the other hand, Nigerian Breweries lost 2.44%, and Wema Bank declined slightly by 0.92%.

FUGAZ Performance

FUGAZ stocks also showed varied performance, with Zenith Bank recording a marginal increase of 0.05%.

Meanwhile, First HoldCo and Access Holdings experienced notable declines, falling 3.85% and 3.66%, respectively.

UBA shed 1.26%, and GTCO slipped 0.84%.

What you should know

Despite the daily gain, price action in the All-Share Index appears relatively weak, as trading volume indicates only a gradual recovery.

From a technical perspective, the market is overbought, suggesting that some stocks may begin to retrace or experience minor declines in the coming sessions.

Any potential pullback is expected to be shallow to moderate, depending largely on the intensity of selling pressure.

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