The Nigerian stock market concluded the month of March on a robust positive trajectory, effectively rebounding from earlier trading sessions' losses as investors strategically pursued bargain opportunities across key equities. This resurgence marked a significant recovery, with the market demonstrating resilience amid broader economic considerations.
Market Performance Indicators Show Strong Recovery
The benchmark All-Share Index (ASI) experienced a notable increase of 0.40%, closing at 201,287.78 points compared to the previous session's 200,484.43 points. This upward movement translated into substantial gains for investors, with market capitalization swelling by N515.68 billion to settle at an impressive N129.21 trillion. The year-to-date return consequently climbed to 29.35%, reflecting sustained positive momentum in the equities market despite periodic fluctuations.
Trading Activity and Volume Analysis
Market activity witnessed significant improvement during the final trading day of March, with total volume traded surging by 49.63% to reach 887.68 million units. The total value of transactions amounted to N35.56 billion across 53,436 deals, indicating heightened investor participation and confidence in the market's recovery potential.
Wema Bank emerged as the volume leader with 184.13 million units traded, representing 20.74% of the total market volume. In terms of value contribution, MTN Nigeria dominated with N9.08 billion in trades, accounting for 25.52% of the total market value. This concentration in specific stocks highlights focused investor interest in particular market segments.
Top Performers and Decliners
Leading gainers included Multiverse, which rose from N16.70 to N18.35 for a gain of N1.65 (9.88%), and MTN Nigeria, which climbed from N718.00 to N760.00, adding N42.00 (5.85%). Other notable advancers were IntEnEgIns, Chams, and Lotus Hal15, all recording substantial percentage increases.
Conversely, top decliners featured NPF Microfinance Bank, which fell from N7.00 to N6.30 for a loss of N0.70 (10.00%), and Skyway Aviation Handling Company, which dropped from N158.95 to N143.10, shedding N15.85 (9.97%). The market breadth remained negative with 50 declining stocks compared to 20 gainers, indicating selective rather than broad-based recovery.
Most Actively Traded Stocks
The most active stocks by volume included Wema Bank leading with 184.13 million shares valued at N4.79 billion, followed by VFD Group with 103.56 million shares worth N1.19 billion. NSLTECH, Chams, and Access Holdings also featured prominently in trading activity, demonstrating diverse investor interest across multiple sectors.
Broader Market Context and Investor Sentiment
This positive closing for March represents a significant recovery from earlier weekly losses, with investors capitalizing on perceived undervalued opportunities in the market. The strategic bargain hunting across major equities suggests cautious optimism among market participants, who appear to be balancing short-term volatility against longer-term growth prospects.
The market's performance aligns with broader economic developments, including recent announcements from major industrial players about future investment opportunities. The recovery in trading activity and value indicates renewed confidence in the Nigerian equities market despite ongoing economic challenges and global market uncertainties.
