The Nigerian stock market has entered a fresh phase of bullish expansion, as a powerful combination of corporate heavyweights propel the All-Share Index (ASI) to new heights. The ASI on Monday March 2 rose by 1.40 percent while the market capitalisation increased by N1.72 trillion.
Leading the charge is Aradel Holdings, which has solidified its status as a market favourite by breaching the N1,100 per share threshold, and Dangote Cement, whose massive valuation continues to anchor market stability.
Aradel rose from N1,084 to N1,192.30, adding N108.30 or 9.99 percent. Likewise, Dangote Cement increased by N30.9 or 3.97 percent, from N779 to N809.9. NGX Group moved from N124 to N136.40, adding N12.40 or 10 percent.
“This week, the equity market may trade with a mildly positive bias as lower interest rates improve sentiment and enhance the attractiveness of equities relative to fixed income instruments.
“Banking stocks could continue to see interest given their recent resilience, while broader market performance will depend on investor confidence, liquidity flows and corporate earnings expectations.
“Overall, improved macro stability and supportive policy signals may help cushion downside risks,” United Capital Research analysts said.
In 84,259 deals, investors exchanged 789,848,103 shares valued at N35.077billion.
Futureview Research analysts in their weekly stock recommendation said, “We expect investors to trade cautiously, focusing on fundamentally strong stocks with attractive valuations”.
As “smart money” rotates into these high-value stocks, the market capitalisation remains comfortably above the N100 trillion mark, signalling a robust and selective rally that is reshaping the landscape for investors in 2026.
The ASI increased to 195,514 points while the market capitalisation rose to N125.487 trillion as against 192,826.78 points and N123.763 trillion respectively recorded the preceding trading day.
“As we move further into the month, the market will likely be shaped by institutional rebalancing and the anticipation of full-year earnings.
“With the Banking sector starting the month on a positive note, we may see continued rotation into high-yield names as dividend declarations start to hit the wires,” according to Lagos-based Vetiva Research analysts.
