March 22, (THEWILL) — The Nigerian equities market recorded a robust performance last week despite trading for only three sessions, as the Federal Government declared Thursday, March 19 and Friday, March 20, 2026, as public holidays to mark the Eid-el-Fitr celebration.
A total turnover of 8.761 billion shares valued at ₦267.253 billion was traded during the week, representing a significant increase, compared to the 3.321 billion shares worth ₦164.845 billion exchanged in the previous week, indicating heightened investor activity.
The ICT Industry (measured by volume) led the activity chart with 5.330 billion shares valued at ₦46.825 billion, contributing 60.84 percent and 17.52 percent to total equity turnover volume and value respectively. The Financial Services Industry followed with 2.765 billion shares worth ₦95.892 billion, while the Consumer Goods Industry ranked third with 174.484 million shares valued at ₦20.805 billion.
Trading in the top three equities, namely E-Tranzact International Plc, FCMB Group Plc and Wema Bank Plc, accounted for 6.084 billion shares worth ₦40.661 billion, contributing 69.44 percent and 15.21 percent to total equity turnover volume and value respectively.
The market sustained its positive momentum as the NGX All-Share Index and Market Capitalization appreciated by 1.39 percent to close the week at 201,156.86 points and ₦129.126 trillion respectively. However, some sectoral indices, including NGX Insurance, NGX AFR Div Yield, NGX Consumer Goods, NGX Oil and Gas, NGX Lotus II and NGX Commodity recorded declines, while the NGX Sovereign Bond index closed flat.
Market breadth improved, with 48 equities advancing, higher than 34 in the previous week. 43 equities declined, lower than 61 recorded previously, while 57 equities remained unchanged, slightly above the prior week’s 53.
Investor sentiment during the week remained cautiously bullish, supported by strong liquidity inflows and increased positioning in high-volume stocks, particularly within the ICT and financial services sectors. The sharp rise in turnover alongside improved market breadth suggests renewed confidence, although the presence of 43 decliners indicates that selective profit-taking persisted, especially in recently rallied counters.
Top 5 Price Gainers
JOHN HOLT PLC surged by 25.40 percent (N9.45 to N11.85).
BUA CEMENT PLC rallied by 21.00 percent (N270.00 to N326.70).
PREMIER PAINTS PLC advanced by 20.62 percent (N19.40 to N23.40).
ZENITH BANK PLC gained 14.64 percent (N95.95 to N110.00).
LEARN AFRICA PLC appreciated by 13.33 percent (N8.25 to N9.35).
Top 5 Price Decliners
ZICHIS AGRO ALLIED INDUSTRIES PLC plunged by -50.58 percent (N17.36 to N8.58).
PRESCO PLC dropped by -18.37 percent (N2,083.90 to N1,701.10).
DAAR COMMUNICATIONS PLC declined by -13.55 percent (N2.14 to N1.85).
ETERNA PLC fell by -12.77 percent (N42.30 to N36.90).
RED STAR EXPRESS PLC shed -9.98 percent (N28.55 to N25.70).
In the bond market, a total of 25,552 units valued at ₦25.912 million were traded during the week, lower than the 84,691 units worth ₦87.531 million recorded in the previous week.
The market’s strong performance in a shortened trading week reflects sustained investor interest and improving participation levels. While bullish sentiment may persist in the near term, analysts expect intermittent profit-taking as investors react to recent gains and evolving macroeconomic signals.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
