Nigerian Equities Soar as NGX Reaches Record 200,000 Benchmark
Industrial Goods Stocks Lead Sectoral Rally
The Nigerian Equities market maintained its bullish momentum in the 3-day trading week ended 18 March 2026, as strong investor demand continued to lift equity prices across several sectors. The NGX All-Share Index (ASI) ended the week on a strong note, pushing above the psychological 200,000-point level for the first time in history. The Index finished the week at 201,156.86 points, representing a 1.39% weekly gain.
Market capitalization also increased significantly during the week. The value of all listed equities on the exchange rose to N129.13 trillion, reflecting strong price appreciation across several major stocks and sustained investor participation.
Trading activity jumped significantly as Investor participation on the Nigerian Exchange remained strong throughout the week. Trading volume surged from 3.3 billion shares in the previous week to 8.7 billion shares. This surge in trading activity indicates improved market liquidity and growing interest from both institutional and retail investors despite three trading sessions due to Eid-el-Fitr holidays.
Market breadth improved, with 48 equities as gainers during the week, 43 equities as losers, and 57 equities remained unchanged.
This impressive performance further strengthened the market’s year-to-date returns, with the index delivering a return of 29.27% as of mid-March 2026.
The NGX Premium Index rose by 1.89%, boosted by notable gains in Zenith Bank(14.64%), UBA(7.14%), BUA Cement(21%) and others. The NGX 30 Index advanced by 1.41%.
Sectoral Performance
The NGX Industrial Goods led the sectoral performance, gaining 9.67% on the back of BUA Cement’s rally, which jumped by 21%, and others like Lafarge Africa and Dangote Cement posted gains of 5.89% and 1.90% respectively.
Mid-cap industrial companies also supported the strong performance in the sector. Austin Laz & Company climbed 12.66%, Berger Paints Nigeria gained 7.73%, and Cutix Plc added 2.65% during the week as investors continued to seek opportunities beyond the large-capitalization stocks.
The NGX Banking Index also closed the week on a positive note, gaining 4.31% on the account of Zenith Bank, which recorded a strong 14.64% gain. United Bank for Africa followed with a 7.14% increase, while Access Holdings advanced 3.21% during the week.
On the bearish side, the NGX Oil and Gas Index declined 4.78%, reflecting profit-taking in energy stocks after earlier gains.
The NGX Consumer Goods Index slipped 0.10%, while the NGX Insurance Index dropped 0.42% as investors reduced exposure in selected stocks within the sectors.
Market Highlight
ASI Weekly Close: 201,156.86 points
Month-on-month Change: 4.32%
Year-to-Date Return: 29.27 %
Market Capitalization: N 129.126 trillion
Top Gainers
- John Plc: up 25.40%
- BUA Cement Plc: up 21.00%
- Premier Paints Plc: up 20.62%
- Zenith Bank Plc: up 14.64%
- Learn Africa Plc: up 13.33%
- Austin Laz & Company Plc: up 12.66%
Top Losers
- Zichis Agro Industries Plc: down 50.58%
- Presco Plc: down 18.37%
- DAAR Communications Plc: down 13.55%
- Eterna Plc: down 12.77%
- Red Star Express Plc: down 9.98%
- Aradel Holdings Plc: down 9.68%
- Omatek Ventures Plc: down 9.23%
Market analysts expect the Nigerian stock market to remain positive in the coming weeks, although intermittent profit-taking may occur after the strong gains recorded in recent months. The crossing of the 200,000-point milestone has further boosted investor confidence and reinforced the bullish outlook for equities.
