The Nigerian equities market staged a recovery on Thursday, March 5, 2026, rebounding from a mid-week slump to add ₦220 billion to investors’ portfolios. This bullish turn was primarily fueled by strong performances in the energy and financial sectors, with the total market capitalization climbing by 0.18% to settle at ₦126.317 trillion, up from Wednesday’s ₦126.097 trillion.
The structural and statistical consequence of this rally was reflected in the All-Share Index (ASI), which gained 0.18% to close at 196,807.15 points. This upward movement pushed the Year-To-Date (YTD) return to an impressive 26.47%, signaling sustained confidence in the local exchange despite recent volatility. However, despite the overall value gain, market breadth remained technically negative, with 39 stocks declining against 33 advancing ones.
Analytically, the session’s gains were spearheaded by Eterna and NPF Microfinance Bank, both of which hit the maximum daily limit with a 10% increase. Other top performers included Premier Paint, which rose by 9.92%, and Custodian Investment, which gained 9.71%. Conversely, the losers’ chart was dominated by Tripple Gee, which plummeted by 9.94%, and Multiverse Mining, which shed 9.91%. Consumer goods heavyweights also faced pressure, with Honeywell Flour and Dangote Sugar declining by over 7% each.
The impact on “Market Liquidity and Volume” showed a slight cooling of activity. Total volume traded decreased by 21.27% to 634.01 million units, while the total value of transactions stood at ₦29.11 billion. Jaiz Bank emerged as the most active stock by volume, moving 137.30 million shares, while GTCO maintained its status as the value leader, accounting for ₦5.41 billion, or roughly 18.59% of the day’s total turnover.
Furthermore, the surge in the insurance and energy sectors suggests a sectoral rotation by investors seeking value away from the heavily hit industrial and agricultural stocks. While the market capitalization increased, the high number of losers indicates that the rally was concentrated in specific large-cap and mid-cap stocks rather than being a broad-based market recovery.
The long-term outlook for the Nigerian Exchange remains positive as the 2026 earnings season approaches. Investors are expected to remain cautious, balancing their portfolios between high-dividend-yielding stocks and those susceptible to macroeconomic shifts. As the week draws to a close, market participants will be watching for the sustainability of this ₦220 billion gain to determine if the market has truly found its footing after recent slumps.
