The Nigerian All-Share Index closed the week ended March 18, 2026, on a positive note, rising by 1.39% to settle at 201,156.86 points.
This marks a 2,749.56-point gain, pushing month-to-date performance to 4.32% as the index decisively crossed the 200,000 milestone, reinforcing bullish sentiment in the market.
Activity was equally strong, with volume surging to 8.7 billion shares across 193,473 deals, up from 3.3 billion shares, despite only three trading sessions due to Eid-el-Fitr holidays.
Market breadth improved, as 48 equities gained compared to 34 previously, while 43 declined from 61, and 57 stocks remained unchanged, reflecting a more balanced but positive trading environment.
What the data is saying
Market data points to a rally supported by strong participation, not just rising prices, as total traded volume surged to 8.7 billion shares.
- All-Share Index closed in positive territory in two of the three trading sessions during the week ended March 18, decisively breaking above the 200,000 psychological threshold.
- The week opened on a strong footing, with the index advancing sharply by 3,067.6 points on Monday, setting the tone for bullish sentiment early in the period.
- Momentum extended into Tuesday as the market gained 0.54% to close at an all-time high of 202,559 points.
Although gains moderated on Wednesday, with the index slipping by 1,402.7 points to settle at 201,156.6, the market still maintained a positive weekly close.
Performance across key indices remained strong, as the NGX Premium Index rose by 1.89%, largely driven by gains in Zenith Bank, UBA, First Holdco, Lafarge, Access Holdings, and Dangote Cement.
Similarly, the NGX 30 Index advanced by 1.41%, while the NGX Main Board Index recorded a 1.07% gain.
Sectoral performance
All major sectors closed the week in positive territory, led by the NGX Industrial Goods Index, which surged 9.67% on the back of strong buying interest in cement and related stocks.
- The rally was largely driven by BUA Cement, which jumped 21%, while other cement giants, Lafarge Africa and Dangote Cement, posted gains of 5.89% and 1.90% respectively.
- Mid-cap industrial counters also supported the advance, with Austin Laz rising 12.66%, Berger Paints gaining 7.73%, and Cutix adding 2.65% during the week.
The NGX Banking Index also closed strongly, advancing 4.31%, driven by gains in major lenders as investors maintained positions in tier-1 banking stocks.
- Zenith Bank led the rally with a 14.64% gain, followed by UBA at 7.14% and Access Holdings at 3.21%, while Wema Bank, FCMB, Stanbic IBTC, and Ecobank recorded moderate increases.
Elsewhere, performance was negative across the remaining sectors, as the NGX Oil & Gas Index declined by 4.78%, the NGX Consumer Goods Index slipped by 0.10%, and the NGX Insurance Index fell by 0.42%.
Top gainers
The top-performing stocks for the week were:
- John Plc: up 25.40% to N11.85
- BUA Cement Plc: up 21.00% to N326.70
- Premier Paints Plc: up 20.62% to N23.40
- Zenith Bank Plc: up 14.64% to N110.00
- Learn Africa Plc: up 13.33% to N9.35
- Austin Laz & Company Plc: up 12.66% to N4.45
- Livestock Feeds Plc: up 12.50% to N8.10
- The Initiates Plc: up 10.68% to N20.20
- Guinness Nigeria Plc: up 9.92% to N423.20
- Ikeja Hotel Plc: up 8.33% to N39.00
Top losers
The week’s worst-performing stocks included:
- Zichis Agro Industries Plc: down 50.58% to N8.58
- Presco Plc: down 18.37% to N1,701.10
- DAAR Communications Plc: down 13.55% to N1.85
- Eterna Plc: down 12.77% to N36.90
- Red Star Express Plc: down 9.98% to N25.70
- Aradel Holdings Plc: down 9.68% to N1,210.30
- Omatek Ventures Plc: down 9.23% to N2.36
- Deap Capital Management & Trust Plc: down 7.86% to N6.45
- VFD Group Plc: down 7.60% to N11.55
- Veritas Kapital Assurance Plc: down 6.96% to N2.14
Corporate actions overview
The week saw notable corporate disclosures across sectors, reflecting both strategic moves and investor-focused updates in the market.
- NEM Insurance released an earnings forecast targeting a N19.7 billion profit for H1 2026.
- CSCS announced its transition to a T+1 settlement cycle, effective May 29, 2026.
- BUA Cement saw its CFO and Company Secretary purchase shares worth N201 million.
- Cutix appointed an acting Chief Executive Officer and Acting Chief Financial Officer.
- AXA Mansard projected a N3.6 billion profit for H1 2026.
What you should know
The All-Share Index has a year-to-date gain of 29.27%, with the NGX Premium Index outperforming the broader market at 43.18%.
Total weekly market volume surged to 8.7 billion shares worth N267.2 billion; while the market shows signs of being overbought.
Ongoing bullish activity in the industrial goods and banking sectors is sustaining upward momentum.
