NGX All-Share Index dips 0.57%, loses 197,000-mark

Nigerian equities market reversed the gains recorded in the previous session, as the NGX All-Share Index (ASI) declined by 0.57% to close at 196,066.09 points. Consequently, the year-to-date return moderated to 26.00% from 26.72%, while market capitalisation also declined by 0.57% to settle at N125.86trn.

The bearish sentiment was driven by selloffs in MTNN (-2.15%), WAPCO (-4.76%), and OANDO (-7.59%), which more than offset gains recorded in ETI (+2.22%), NEM (+9.11%), and CONOIL (+9.95%).

Market activity weakened relative to the previous session, with trading volume and value declining by 3.67% and 11.74%, respectively. ACCESSCORP (0.00%) led the volume chart with 80.26m units traded, while ARADEL (0.00%) topped the value chart with N3.27bn worth of transactions.

Market breadth closed negative at 0.80x, reflecting stronger selling pressure as decliners outpaced advancers. PREMPAINTS (+9.97%) led the 26 advancers, while MBENEFIT (-10.00%) topped the 44 decliners.

The Nigerian All-Share Index closed the trading session of March 10, 2026, on a negative note, falling by 1,130.9 points to settle at 196,066.1.
This marks a 0.57% decline from the previous close of 197,197.0, as trading momentum continued to soften.

As a result, market capitalization slipped below the N126 trillion mark, closing at N125.8 trillion, reflecting the day’s broader decline in share prices.

Market activity also weakened, with total volume dropping to 746.8 million shares traded across 65,275 deals, slightly below the 762 million shares recorded in the prior session.

Market sentiment turned bearish on 10 March 2026, with the year-to-date return slipping to 26.00% from 26.72% in the previous session.

Despite the broader decline, selective buying emerged in a few counters, with Premier Paints and Conoil gaining 9.97% and 9.95% respectively.
On the downside, profit-taking weighed on Mutual Benefits Assurance and Nascon Allied, both of which declined by 10%.

In terms of trading volume, Access Holdings led with 80.2 million shares, followed by Mutual Benefits at 52.6 million and Fortis Global at 41.3 million shares.

Zenith Bank (35.3 million) and Jaiz Bank (31.5 million) also recorded notable activity. By value, Zenith Bank topped turnover at N3.29 billion, followed by Aradel (N3.2 billion), Access Holdings (N2 billion), Oando (N1.55 billion), and MTN (N1.5 billion), highlighting where investor interest was most concentrated.

Premier Paints — up 9.97% to N17.65
Conoil — up 9.95% to N204.40
Sunu Assurances — up 9.95% to N4.75
Daar Communications — up 9.84% to N2.01
Eterna — up 9.56% to N51.00
Top 5 Losers 
Mutual Benefits — down 10.00% to N4.59
Nascon Allied — down 10.00% to N147.60
Red Star Express — down 9.94% to N28.55
Austin Laz — down 9.88% to N3.75
SCOA — down 9.85% to N27.90

Stocks valued above N1 trillion, performance was bearish during the session. Wema Bank fell 5.19%, Lafarge declined 4.76%, MTN Nigeria slipped 2.15%, Nigerian Breweries dropped 1.13%, while Stanbic IBTC shed 0.15%.

On the gainers’ side, International Breweries led the pack, rising 2.04%.
UBA declined 1.17%, while GTCO fell 0.85%. On the positive side, Zenith Bank edged up 0.11%, while First Holdco and Access Holdings closed flat.

The market’s decline may persist depending on whether large-cap stocks continue retracing after the index tested the 197,000 level in the previous session. This marks the sharpest drop since February 24, when the market shed 1,779 points.

However, a renewed wave of buying in large-cap counters could help steer the index back toward a bullish path.