The Nigerian Exchange (NGX) closed the week ended March 13, 2026, on a high note, with the All-Share Index (ASI) jumping 0.73% to reach a record 198,407.30 points. This 1,439.15-point gain from the previous week’s 196,968.15 points marks the first time the ASI has crossed the 198,000 threshold, reflecting renewed investor confidence despite slightly softer trading activity.
While the market recorded a year-to-date return of 27.50%, total trading volume declined to 3.3 billion shares across 318,907 deals, compared with 3.6 billion shares the previous week. Out of the listed equities, 34 advanced, 61 declined, and 53 remained unchanged, indicating a mixed but generally positive market sentiment. The week saw gains in three of five trading sessions, with the index rebounding from midweek losses to finish strongly on Friday.
Sectoral performance was led by the NGX Industrial Goods Index, up 5.73%, largely due to BUA Cement’s 20% surge. Chemical and Allied Industries rose 7.32%, while Lafarge Africa added 1.86%. The NGX Oil and Gas Index also posted notable gains, powered by Conoil’s 20.95% jump. Conversely, the NGX Insurance and Banking indices lagged, losing 4.59% and 1.04%, respectively, highlighting pockets of weakness despite the overall market rise.
Premier Paints Plc led all gainers with a 32.88% increase to N19.40, followed by Conoil Plc (+20.95%), BUA Cement (+20%), and Fidson Healthcare (+19.04%). Other notable risers included Omatek Ventures, Nigerian Exchange Plc, and Guinness Nigeria. On the downside, SCOA Nigeria dropped 34.06%, Fortis Global Insurance fell 20.81%, and Sovereign Trust Insurance declined 20.68%, demonstrating the sharp contrasts in investor fortunes across sectors.
Corporate announcements also shaped market dynamics last week. Geregu Power projected a pre-tax profit of N8.1 billion, while VFD Group revealed plans to refund shareholders N1.83 billion. Board changes at Jaiz Bank, Beta Glass, and Wema Bank added to investor interest. Analysts note that continued bullish momentum in large-cap stocks like BUA Cement and Zenith Bank could push the NGX All-Share Index toward the 200,000 mark in the near term, keeping the spotlight on Nigerian equities.
source: nairametrics