Nigerian Stock Market Slips as Profit-Taking Halts Weeks of Winning Streak

The Nigerian stock market closed the trading week ended 27 March 2026 on a slightly negative note as investors engaged in profit-taking, ending a three-week winning streak. The All-Share Index (ASI) declined by 0.12% to 200,913.06 points, down from 201,156.86 points in the previous week, reflecting mild selling pressure across key sectors.

The Market capitalization also slipped to ₦128.97 trillion, mirroring the decline in the benchmark index. The downturn marked the first weekly decline in three weeks, following a strong rally that pushed the market to record highs earlier in March.

Market activity slowed during the week as investors adopted a cautious stance and repositioned portfolios. A total of 3.95 billion shares were traded in the review week, in contrast to a total of 8.761 billion shares in the previous week.

The NGX Premium Index declined by 2.76%; losses in Zenith Bank, MTN Nigeria, First Holdco, UBA, and Lafarge contributed to this decline. NGX 30 Index slipped by 0.11%, and the NGX-Main Board Index advanced by 1.53%

During the week, 47 equities appreciated in price, 45 equities depreciated in price, and 56 equities remained unchanged.

Sectoral Performance

Sectoral performance during the week was largely negative, with the banking sector recording the steepest decline on the exchange.

The NGX Banking Index dropped 2.47%, weighed down by notable losses in major banking stocks. FCMB Group fell by 7%, while Zenith Bank declined by 6.36%. First Holdco and United Bank for Africa also recorded notable declines of 4.72% and 4.21%, respectively, contributing to the sector’s weak performance.

The Consumer Goods sector also closed the week in negative territory, with the sector index declining 0.91%. The decline reflects cautious investor sentiment amid persistent inflationary pressures that continue to affect consumer purchasing power and corporate margins.

Similarly, the Industrial Goods sector edged lower by 0.15%, indicating mild weakness in cement and construction-related stocks during the week.

On the positive side, the NGX Oil and Gas advanced by 1.93%, supported by Aradel and Oando gains of 4.11% and 2.86%, respectively.

Market Highlight

ASI Weekly Close: 200,913.06 points
Month-on-month Change: 4.19%
Year-to-Date Return: 29.11%
Market Capitalization: N128.969 trillion

Top Gainers

• Zichis Agro-Allied Industries Plc: up 60.72%
• Premier Paints Plc: up 60.26%
• John Holt Plc: up 59.92%
• Legend Internet Plc: up 25.00%
• McNichols Plc: up 20.65%
• Presco Plc: up 16.40%

Top Losers

• Livestock Feeds Plc: down 11.73%
• Fidson Healthcare Plc: down 9.97%
• Cadbury Nigeria Plc: down 9.94%
• Austin Laz & Company Plc: down 9.89%
• Learn Africa Plc: down 9.09%
• Eterna Plc: down 8.54%
• Deap Capital Management Plc: down 7.75%

Overall, the week reflected a period of consolidation in the Nigerian equities market, as investors locked in profits after the recent rally, while the market maintained its position above the key 200,000-point level.