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By Chukwuma Umeorah
Nigeria’s equities market recorded a 1.39 per cent gain despite trading for only 3 days in the week ended March 18. The benchmark All-Share Index closed at 201,156.86 points, from a low of 198,407.30 points and N127.361 trillion respectively in the preceding week supported by sustained buying interest across selected counters.
The development represents a significant milestone for the market, as the index crossed and maintained the 200,000-point threshold for the first time on record. Market performance has remained notably strong, with year-to-date gains approaching 30 per cent, placing it among the better-performing equities markets globally.
Trading activity remained elevated within the limited sessions, with investors exchanging a total of 8.76 billion shares valued at N267.25 billion in 193,473 deals, representing a significant increase compared with the previous week’s 3.32 billion shares worth N164.85 billion traded in 318,907 deals.
Sectoral analysis showed that the Information and Communication Technology industry led market activity by volume, accounting for 60.84 per cent of total traded shares, while contributing 17.52 per cent to total value. The Financial Services sector followed, while the Consumer Goods sector ranked third in terms of turnover. Market activity was concentrated in a few stocks, as E-Tranzact International Plc, FCMB Group Plc and Wema Bank Plc accounted for a combined 6.08 billion shares traded during the week. This represented 69.44 per cent of total volume and 15.21 per cent of total value for the period under review.
Performance across sectoral indices was mixed, with gains recorded in the Banking and Industrial Goods indices, while the Oil and Gas, Consumer Goods and Insurance indices closed lower, reflecting varied investor sentiment.
Market breadth improved during the week, with 48 equities appreciating in price, compared with 34 in the previous week. A total of 43 equities recorded price declines, while 57 remained unchanged.
At the individual stock level, major gainers included BUA Cement Plc, which appreciated by 21.00 per cent to close at N326.70 per share, followed by John Holt Plc, which gained 25.40 per cent to close at N11.85 per share. Premier Paints Plc rose by 20.62 per cent to N23.40 per share, while Zenith Bank Plc advanced by 14.64 per cent to close at N110.00 per share. Learn Africa Plc also recorded a gain of 13.33 per cent, closing at N9.35 per share.
Conversely, Zichis Agro Allied Industries Plc led the losers’ chart, declining by 50.58 per cent to close at N8.58 per share. Presco Plc fell by 18.37 per cent to N1,701.10 per share, while Daar Communications Plc dropped by 13.55 per cent to close at N1.85 per share. Eterna Plc recorded a decline of 12.77 per cent to N36.90 per share, and Red Star Express Plc shed 9.98 per cent to close at N25.70 per share.
Overall, the market’s upward movement, despite the shortened trading window and declines in key sectoral indices, indicates continued investor participation, with trading patterns reflecting sector rotation and concentration in high-volume equities.
