Nigerian Equity Market Gains N1.76 Trillion In Bullish Week Led By John Holt And BUA Cement Performance

Nigerian stocks watch: John Holt, BUA Cement, and Premier Paints lead the NGX as market capitalization hits N129.1 trillion despite holiday breaks.

By: AXL Media

Published: Mar 23, 2026, 4:09 AM EDT

Source: The information in this article was sourced from Ripples Nigeria

Market Resilience Amidst Holiday Schedule

The Nigerian equity market demonstrated remarkable resilience during the preceding trading week, consolidating its previous bullish momentum. Despite the Federal Government declaring a two-day public holiday on March 19 and 20 to observe the Eid-el-Fitr celebrations, the market managed to record substantial growth within its limited three-day operating window. Total equity capitalization surged to N129.1 trillion, up from N127.3 trillion the prior week. This upward trajectory suggests a high level of investor confidence in the current market cycle, even as national festivities temporarily paused active trading.

Benchmark Index Surpasses Historic Milestone

The All-Share Index (ASI), a key barometer for market health, recorded a notable appreciation of 1.39%. This move brought the index to a closing value of 201,156.86 points, a significant rise from the previous week's close of 198,407.30 points. Analysts attribute this performance to strong buying interest in large and medium-cap stocks across various sectors. The sustained growth of the ASI reflects a broader recovery phase in the Nigerian capital market, as institutional and retail investors continue to seek value in high-performing equities.

John Holt Plc Leads Growth Rankings

John Holt Plc has emerged as a standout performer, currently priced at N11.85 per share. The stock recorded a 9.7% gain in its last trading session and has shown an extraordinary year-to-date (YTD) appreciation of 142%, having started the year at N4.90. This performance ranks John Holt as the ninth-best performing stock on the Nigerian Exchange (NGX) this year. With an average trading volume of over 560,000 shares per session, the stock remains a high-liquidity option for traders looking to capitalize on the conglomerate's recent valuation surge.