The Nigerian All-Share Index (ASI) closed slightly lower on 4th March 2026, dipping 0.08% to 196,463.2 points, halting its steady march toward the psychologically important 200,000 level. Analysts say the 158.7-point decline from the previous session’s close of 196,621.9 was driven by mild profit-taking as investors adjusted positions after recent market gains.
Trading activity slowed, with 805 million shares exchanged across 71,312 deals, compared to 879.9 million shares in the previous session. Total equity capitalization stood at N126.09 trillion, with MTN Nigeria and Aradel Holdings dominating market value, each recording over N5.7 billion in turnover. The market’s momentum turned slightly bearish, but the year-to-date return remains strong at over 26%, signaling sustained investor confidence.
Certain stocks attracted renewed buying interest, pushing Premier Paints up 10.00% and Fortis Global Insurance by 9.73%. Conversely, profit-taking weighed on Dangote Sugar Refinery and Jaiz Bank, which both fell 10.00%. In terms of volume, Veritas Kapital Assurance led with 56.4 million shares traded, followed closely by Jaiz Bank (51.02 million) and Universal Insurance (48.3 million).
By value, MTN Nigeria topped the chart with N7.07 billion, followed by Aradel Holdings (N5.7 billion), Zenith Bank (N4.3 billion), GTCO (N2.9 billion), and Oando (N2.1 billion). Among notable gainers were UACN (up 7.78%), Eterna (up 6.38%), and Custodian (up 6.06%), while top losers included Chemical & Allied (-9.97%), Union Dicon Salt (-9.94%), and Haldane McCall (-9.89%).
Despite the minor decline, analysts remain bullish on the Nigerian All-Share Index, noting that any pullbacks are expected to be shallow. Large-cap stocks like MTN and UBA continue to attract buying interest, potentially driving the index closer to the 200,000 mark. Market watchers suggest investors monitor overbought stocks for possible retracements while maintaining long-term confidence in the market’s upward trajectory.
source: nairametrics