Market News

By Peter Egwuatu 

Nigeria’s stock market ended the first quarter of 2026 on a high note, with investors making massive gains of over N29 trillion in just three months. The strong performance comes amid ongoing economic reforms in the country.

The total value of all listed companies on the Nigerian Exchange Limited (NGX), known as market capitalization, rose sharply to N129.2 trillion by the end of March, up from N99.4 trillion at the start of January.

Similarly, the NGX All Share Index (ASI), which tracks overall stock prices, jumped 29.4%, closing March at 201,287 points from 155,613 points in January. The ASI has now stayed above the key 200,000 mark since March, showing investors’ confidence in the market.

The NGX ASI has been holding firmly above the critical 200,000 psychological threshold since March, as this level has now been reinforced as a major support zone, underpinning the market’s resilience despite intermittent pullbacks. The prevailing uptrend remains intact, supported by sustained liquidity inflows and selective institutional participation.

Meanwhile, on a Month-on-Month, MoM, basis, the investors raked N6.77 trillion return on investment in January or 6.3 %, as market capitalisation and ASI closed at N106.153 trillion and 156,370.40 points respectively. In February, investors gained N17.61 trillion or 16.6 %, with market capitalisation and ASI closing at N123.763 trillion and 165,370.40 points respectively , while in March, investors gained N5.446 trillion or 4.4%.

March saw some ups and downs, but the market stayed mostly positive. Strong companies continued to attract money from investors, helping the overall trend move upward despite occasional profit-taking.

Globally, oil prices also rose sharply in March, with Brent crude hitting over $117 per barrel due to tensions in the Middle East. Higher oil prices help Nigeria earn more foreign currency and strengthen the economy, though inflation remains a concern.

Meanwhile, yesterday’s activities show that the NGX closed on a positive note due to share price appreciation in MTN , which rose by 5.85% and PZ 4.59%. As a result, the benchmark index, ASI Share by 0.40% . Market capitalisation also rose by 0.40%.

Activity level in the market was positive with the total value of stocks traded and the total volume of stocks traded rising by 38.65% and 49.63% to settle at N35.56billion and 887.68million units.