Lagos, Nigeria – Nigeria’s stock market, known as the Nigerian Exchange, closed the week ended March 13 at a record 198,407 points. The All-Share Index rose 0.73 percent, or 1,439 points from 196,968. This marked the first time it topped 198,000 in history. Nigeria, West Africa’s largest economy, saw gains despite lower trading volume of 3.3 billion shares across 318,907 deals.
Market breadth showed 34 stocks up, 61 down, and 53 flat. Year-to-date returns reached 27.50 percent. The index gained in three of five sessions, dipping midweek before rebounding Thursday and Friday.
Okay News reports the industrial goods sector led with a 5.73 percent jump. BUA Cement surged 20 percent to 270 naira. Oil and gas followed at 1.50 percent, driven by Conoil’s 20.95 percent rise to 204.40 naira.
Top gainers included Premier Paints up 32.88 percent to 19.40 naira. Fidson Healthcare climbed 19.04 percent to 105.35 naira. Guinness Nigeria added 11.79 percent to 385 naira.
Losers featured SCOA Nigeria down 34.06 percent to 22.65 naira. Fortis Global Insurance fell 20.81 percent to 1.18 naira. Sovereign Trust dropped 20.68 percent to 2.11 naira.
Premium Index rose 1.27 percent on Zenith Bank’s 3.17 percent gain. NGX 30 advanced 0.80 percent, Main Board 1.99 percent. Consumer goods edged up 0.63 percent, while insurance fell 4.59 percent and banking 1.04 percent.
Corporate updates shaped sentiment. Geregu Power forecast Q2 pretax profit of 8.1 billion naira. VFD Group will refund 1.83 billion naira to shareholders. Oando noted delays in 2025 results due to software issues.
Board changes hit Jaiz Bank with Omolara Ismail as director. Beta Glass named four new ones. Wema Bank added Engr. Wilson Agu. These moves signal fresh leadership amid market highs.
Heavyweights like BUA Cement fueled the rally. Trading eased from prior week’s 3.6 billion shares. Bullish large-caps may push toward 200,000 points soon.
Investors eye oil price surges from Middle East tensions boosting energy stocks. Sustained gains could draw more foreign capital. The exchange remains a key gauge of Nigeria’s economic pulse.
