Market Update For March 12, 2026
The Nigerian equities market rebounded on Thursday, March 12, 2026, as renewed bargain hunting lifted investor sentiment following recent profit-taking. The positive close reflected selective accumulation across fundamentally sound stocks, particularly within the consumer goods, banking, and industrial sectors.
Buying interest emerged gradually during the trading session as investors repositioned portfolios in response to price corrections recorded earlier in the week. The renewed demand signals sustained confidence in the domestic equities market, supported by improving corporate fundamentals, steady liquidity, and continued portfolio rebalancing by institutional and retail investors.
Market participants focused largely on mid- and large-cap stocks that had recently experienced pullbacks, creating attractive entry opportunities. This strategic accumulation supported a steady upward movement in the benchmark index throughout the session, helping the market recover part of its earlier losses.
Consumer goods and financial stocks played a significant role in driving the market’s rebound. Strong demand was recorded in stocks such as FIDSON, STERLINGNG, CAP, TRANSCOHOT, and BUACEMENT, which led the gainers’ chart. Additional support came from buying interest in INTBREW, GUINNESS, NGXGROUP, UCAP, MTNN, FIDELITYBK, and WAPCO, among others.
Despite the positive sentiment, trading activity slowed during the session as investors maintained a cautious approach. Total volume traded declined by 18.01% to 549.78 million shares, while the value of transactions stood at N44.74 billion across 55,465 deals.
Activity in the market remained concentrated in a few highly traded counters. FTGINSURE recorded the highest traded volume with 32.18 million shares, accounting for 5.85% of the day’s total volume. ACCESSCORP and FIRSTHOLDCO also ranked among the most active stocks by volume, contributing 5.12% and 5.04% respectively to the day’s market turnover.
In value terms, DANGCEM dominated trading activity with N20.67 billion, representing 46.21% of the total value traded during the session. Other notable contributors to value traded included ARADEL and ZENITHBANK, highlighting continued institutional interest in high-capitalisation stocks.
From a technical standpoint, the rebound reflects renewed buying support after the recent wave of profit-taking that temporarily pressured prices. The benchmark index remains firmly above key psychological and technical support levels, suggesting that the prevailing bullish momentum in the market is still intact. However, the moderation in trading volume indicates that investors are adopting a measured strategy as they balance bargain hunting with selective profit-taking.
Sector rotation is also becoming more visible as investors continue to shift funds across banking, industrial, and consumer goods stocks in search of value opportunities. This rotation has helped sustain market resilience despite intermittent volatility.
Meanwhile, developments in the global oil market could shape investor sentiment in the near term. Oil prices surged sharply on Thursday amid escalating geopolitical tensions in the Middle East and growing concerns over potential disruptions to oil shipments through the strategic Strait of Hormuz.
Brent crude climbed $8.05, or 8.8%, to $100.03 per barrel, while U.S. West Texas Intermediate rose $8, or 9.2%, to $95.25 per barrel. The sharp increase followed intensified attacks on oil and transport infrastructure across the region, which raised fears of supply disruptions in one of the world’s most critical oil transit routes.
Reports indicated that two fuel tankers were struck in Iraqi waters, while authorities confirmed that some oil export facilities had temporarily halted operations. In response to the heightened security risks, Oman reportedly relocated vessels from its main oil export terminal at Mina Al Fahal as a precautionary measure.
The situation has triggered one of the most significant disruptions to global oil supply in recent years, with Middle East producers cutting output by about 10 million barrels per day, equivalent to nearly 10% of global demand. Emergency releases from strategic reserves have been approved to help stabilise supply, though the duration of the disruption remains uncertain.
For Nigeria, higher oil prices may provide fiscal relief through increased export earnings and improved foreign exchange inflows. However, sustained geopolitical tensions could also heighten global financial market volatility, which may influence capital flows into emerging markets.
At the close of trading, the NGX All-Share Index advanced by 0.52%, gaining 1,010.23 points to settle at 196,908.76 points, up from 195,898.53 points recorded in the previous session. Market capitalisation increased by N648.46 billion to close at N126.40 trillion, while the market’s year-to-date return improved to 26.54%. Market breadth closed neutral with 30 gainers and 30 losers, as FTNCOCOA topped the gainers’ chart while ETERNA led the decliners. Major market movers included FIDSON (+9.97%), STERLINGNG (+9.03%), CAP (+7.32%), TRANSCOHOT (+7.01%), BUACEMENT (+5.32%), INTBREW (+1.70%), GUINNESS (+1.63%), NGXGROUP (+0.83%), UCAP (+0.83%), MTNN (+0.63%), FIDELITYBK (+0.52%), and WAPCO (+0.29%).
