Nigerian Stock Market Surges N1.1 Trillion on Strong Gains in Airtel Africa and Other Blue-Chip Stocks
Renewed bargain hunting in numerous blue-chip stocks, particularly Airtel Africa and Presco, propelled the Nigerian stock market's capitalisation to increase by a substantial N1.086 trillion. At the close of trading on March 24, 2026, the all-share index (ASI) advanced by 1,691.86 points, marking a growth of 0.85 per cent to finish at 200,705.88 points. Concurrently, the market capitalisation rose by N1.086 trillion, closing at N128.836 trillion.
Key Drivers and Market Performance
The positive upturn was significantly influenced by gains recorded in medium and large capitalised stocks, including notable performers such as Airtel Africa, Presco, Guaranty Trust Holding Company (GTCO), Premier Paints, and Nigerian Exchange Group. According to Imperial Asset Managers Limited, the market closed on a positive note, supported by robust performances in the banking, consumer goods, insurance, and commodities sectors. The overall market breadth remained positive, indicating continued selective buying interest among investors.
Imperial Asset Managers noted that in the near term, the market is expected to trade cautiously as investors continue to position themselves in fundamentally strong and dividend-paying stocks. However, the firm cautioned that profit-taking may persist in recently appreciated counters, while institutional activity is likely to remain concentrated in high-liquidity bellwether stocks.
Gainers and Losers in the Trading Session
Market breadth closed positive, with 37 gainers outpacing 23 losers. John Holt, Consolidated Hallmark Insurance, Legend Internet, and Airtel Africa each recorded the highest price gain of 10 per cent, closing at N14.30 kobo, N4.95, N6.60, and N2,497 respectively. Zichis Agro-Allied Industries followed with a gain of 9.97 per cent to close at N10.37, while Premier Paints increased by 9.94 per cent to finish at N28.20 kobo.
On the downside, NPF Microfinance Bank led the losers' chart with a decline of 6.29 per cent to close at N6.56 kobo. Royal Exchange followed with a drop of 5.32 per cent to N1.78, while CWG declined by 4.82 per cent to N20.75 kobo. Veritas Kapital Assurance depreciated by 4.21 per cent to close at N2.05, and UPDC fell by 3.88 per cent to N4.95 kobo.
Trading Volume and Activity Highlights
The total volume traded experienced a significant rise of 25.01 per cent, reaching 1.292 billion units, valued at N65.335 billion and exchanged in 89,949 deals. Transactions in the shares of Access Holdings topped the activity chart with 266.788 million shares valued at N6.022 billion. GTCO followed with 184.379 million shares worth N19.393 billion, while Wema Bank traded 182.483 million shares valued at N4.779 billion.
United Bank for Africa (UBA) traded 119.05 million shares valued at N5.752 billion, and Zenith Bank sold 42.706 million shares worth N4.574 billion. This heightened activity underscores the robust investor interest and liquidity in the market, contributing to the overall positive sentiment and capitalisation gains.
