Stock market sustains bullish trend as investors gain N710bn

The Nigerian stock market sustained its bullish momentum on Tuesday, March 3, 2026, advancing by 0.56 per cent as investors gained N710 billion.

The upbeat performance was driven by strong 2025 financial results and attractive dividend declarations by listed companies.

The rally was also due to rising global oil prices, which recently climbed to $83 per barrel, alongside sustained demand for blue-chip heavyweight stocks in the domestic market.

Despite tensions stemming from the US-Israel-Iran conflict, which had unsettled global markets, Nigerian banking and oil stocks remained resilient, supporting the upward trend.

The market capitalisation rose by N710 billion or 0.56 per cent, increasing from an opening value of N125.488 trillion to close at N126.198 trillion.

The All-Share Index also gained 1,107.73 points, representing a 0.56 per cent increase, to close at 196,621.96 compared to 195,514.23 recorded in the previous session.

The Year-To-Date return increased to 26.35 per cent, while the market breadth closed positive with 39 gainers and 36 losers.

UAC of Nigeria and Sunu Assurances led the gainers’ chart by 10 per cent each, ending the session at N106.70 and N4.84 per share, respectively.

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Oando rose by 9.96 per cent, settling at N50.25, Sovereign Trust Insurance soared by 9.88 per cent, finishing at N2.67, while Fortis Global Insurance gained by 9.71 per cent, closing at N1.13 per share.

Conversely, FG202033S6 led the losers’ chart by 28.64 per cent, finishing at N85, Fidson trailed by 10 per cent, closing at N81, and Mecure lost by 9.95 per cent, settling at N68.30 per share.

Aluminium Extrusion Industries went down by 9.88 per cent, ending the session at 15.50, while Mc Nicholas shed by 8.26 per cent, closing at N7 per share.

Market activity improved during the trading session, as total volume rose by 11.41 per cent to 880.01 million shares, valued at N44.51 billion, and exchanged in 86,761 deals.

Fortis Global Insurance recorded the highest volume with 58.40 million shares, accounting for 6.64 per cent of the day’s total volume.

Aradel recorded the highest value at N8.22 billion, accounting for 18.47 per cent of value traded for the day.

The Star