Nigerian Stock Market Valuation Rises to N126 Trillion as Investors Trade N177.68 Billion in Shares

Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.

Nigerian Stock Market Valuation Rises to N126 Trillion as Investors Trade N177.68 Billion in Shares

Nigeria’s equities market recorded another strong performance as the total valuation of listed companies on the Nigerian Exchange climbed to approximately N126.43 trillion, reflecting continued investor activity and renewed confidence in the country’s capital market. The development followed a week of intense trading in which investors exchanged shares worth N177.68 billion across multiple sectors of the economy.

The figures were contained in the Nigerian Exchange Limited’s latest weekly market report, which captured trading activities between March 2 and March 6. During the period, a total of 3.69 billion shares were traded in 370,980 deals by investors participating in the market. The transaction value, although substantial, represented a slight decline when compared with the previous week, when the exchange recorded 5.49 billion shares worth N196.71 billion in 370,233 deals.

Despite the decrease in trading volume and value, the overall value of equities listed on the exchange recorded a notable increase. Market capitalisation rose by 2.16 percent within the week, climbing from N123.76 trillion to N126.43 trillion. Analysts say this growth reflects positive investor sentiment and a steady rise in share prices across several key sectors.

The Nigerian Exchange All-Share Index, a key indicator used to measure the performance of the market, also strengthened during the week. The index advanced by 2.15 percent, closing at 196,968.15 points. The upward movement in the index signals broad gains across the market and highlights continued demand for Nigerian equities among both institutional and retail investors.

Sectoral analysis of trading activities revealed that the financial services industry dominated market transactions during the week under review. Investors traded approximately 2.44 billion shares in the sector valued at N72.02 billion across 145,628 deals. The sector alone accounted for more than 66 percent of the total equity turnover volume and about 40 percent of the total value traded during the period.

Market analysts attribute the strong performance of financial services stocks to the strategic position of banks and financial institutions in Nigeria’s economy. The sector often attracts high investor interest due to its liquidity, large market capitalization, and consistent dividend-paying companies.

Following the financial services sector in trading activity was the oil and gas industry. The sector recorded a turnover of 326.07 million shares valued at N39.51 billion in 36,458 deals during the week. The oil and gas sector remains a critical component of Nigeria’s economy and frequently attracts investors seeking exposure to energy-related businesses and potential long-term growth opportunities.

The services industry emerged as the third most active sector during the week. A total of 218.37 million shares valued at N2.01 billion were traded in 18,575 deals within the sector. Although the value of trades in services was lower compared with other sectors, analysts note that the industry continues to show gradual growth as Nigeria’s service-based economy expands.

The weekly market report also identified the top three equities that accounted for a significant portion of trading activities. Shares of Jaiz Bank Plc, Fortis Global Insurance Plc, and Access Holdings Plc dominated market transactions during the week. Together, the three companies recorded a combined volume of 661.24 million shares valued at N8.06 billion across 38,534 deals.

Their combined activity accounted for 17.9 percent of the total equity turnover volume and approximately 4.54 percent of the total value traded on the Nigerian Exchange during the period. Analysts say this concentration of trading in a few major equities is common in emerging markets where a limited number of companies attract the majority of investor interest.

In terms of price performance, several companies recorded strong gains during the week. Fortis Global Insurance Plc emerged as the top gainer, with its share price rising from N0.94 to N1.49, representing an increase of N0.55. Premier Paints Plc also posted impressive gains as its share price climbed from N11 to N14.60 per share.

Eterna Plc recorded one of the most significant price increases during the week. The company’s share price advanced by N9.45, closing at N42.35 compared with its previous value of N32.90. The Nigerian Exchange Group itself also experienced strong investor demand as its share price rose by N26.95 to close the week at N150.95 from N124.

Another company that recorded notable gains was UACN Plc, whose share price increased by N19.80 to close at N115.80 per share. The strong performance of these companies contributed significantly to the overall upward movement of the market during the week.

However, not all equities experienced positive performance. Some companies recorded losses as investors engaged in profit-taking or reacted to market developments. McNichols Plc led the list of decliners, shedding N2.07 in share price to close at N6.40 compared with N8.47 at the beginning of the week.

Mecure Industries Limited also recorded a substantial decline. The company’s share price dropped by N14.35 to close at N61.50 per share after opening at N75.85. Multiverse Mining and Exploration Plc also saw its share price fall by N4.25 to close at N18.45 from N22.70.

Jaiz Bank Plc, despite being among the most actively traded stocks during the week, experienced a drop in share price. The bank’s stock declined by N2.33, closing at N10.30 per share compared with its earlier value of N12.63. Omatek Ventures Plc also recorded a decline, with its share price falling from N19.10 to N17.20 per share.

Market observers say the mixture of gains and losses reflects the dynamic nature of the Nigerian stock market, where investors continuously adjust their portfolios based on corporate earnings expectations, macroeconomic trends, and broader financial conditions.

The continued rise in Nigeria’s stock market valuation also reflects a broader trend seen in recent months. Earlier in the year, the market crossed the N100 trillion mark for the first time in its history, marking a significant milestone for the country’s financial sector. The milestone highlighted the growing size and importance of Nigeria’s capital market in attracting investment and supporting economic development.

Analysts believe that sustained economic reforms, improving investor confidence, and expanding participation from both domestic and foreign investors could further strengthen the market. They also note that regulatory improvements and technological upgrades within the exchange are gradually enhancing market transparency and efficiency.

As Nigeria continues to pursue economic diversification and capital market development, the performance of the Nigerian Exchange remains closely watched by investors, policymakers, and financial institutions. The latest figures suggest that despite fluctuations in trading volume, the market continues to expand in value, reinforcing its role as a critical platform for investment and capital formation in Africa’s largest economy.

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