NGX Delivers 29.35% Return, Investors Gain N30trn in Q1
The Nigerian Exchange (NGX) delivered 29.35% return from the beginning of the year to date as investors continue to take positions in growth stocks with upside potential.
Over the past three months, the Nigerian Exchange market capitalisation increased by about N30 trillion, reflecting sustained bargain-hunting.
Market cap is expected to reach N130 trillion in the second quarter, as investors anticipate the first quarter of 2026 earnings season to drive momentum.
The local bourse witnessed significant gains as investors hedged macro risks by buying Nigerian top-performing stocks across the banking, insurance, industrial, and oil and gas indices.
At the last trading session of Q1, the Nigerian market recorded its last gain of the period, rising by ₦515.68 billion to close at ₦129.21 trillion.
Investors’ wealth increased by approximately ₦29.83 trillion in Q1, largely driven by an early-year rally, investors’ confidence following corporate earnings releases, corporate action disclosures, and promising macroeconomic factors.
The market index grew by about 10% year to date, settling at 201,287.78 on March 31, 2026. All sectoral indicators have been re-rated to reflect the booming conditions of the local bourse.
On Tuesday, sectoral performance ended on a mixed note, with three indexes posting gains in today’s session. The Consumer Goods (+0.24%) index led the charge, followed by the Industrial (+0.20%) index, driven by buying interest in NB (+2.82%) and WAPCO (+1.48%).
The Oil & Gas (+0.08%) also closed on a positive note, driven by price upticks in OANDO (+1.11%), while the Commodity index closed flat. Elsewhere, the Insurance (-3.64%) and Banking (-1.76%) indices ended the day on a negative note, dragged by sell-offs in NEM (-5.34%) and ZENITHBANK (-4.25%), respectively.
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