Stock Market Closes Trading Negative After Eid-el-Fitr holiday
- The stock market on Monday traded bearish after the Eid-el-Fitr holiday, with the NGX ASI declining by 1.07% as investors sold off major stocks.
- The decline was driven by selloffs in heavyweight stocks, including GTCO, Nigerian Breweries, MTN Nigeria, Wema Bank
- Presco led the gainers, while Conhall Plc topped the losers, as UBA, Wema Bank, and Access Holdings dominated trading activity
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The Nigerian equities market opened the week on a negative note on Monday, March 23, 2026, as investors sold off heavyweight stocks following the Eid-el-Fitr public holiday.
Source: Getty Images
The bearish sentiment was driven by declines in major stocks, including Guaranty Trust Holding (GTCO), Nigerian Breweries, MTN Nigeria, and Wema Bank, all of which recorded losses
As a result, the benchmark All-Share Index (ASI) fell by 1.07% to close at 199,014.02 points, down from 201,156.85 points recorded in the previous trading session.
Market capitalisation declined to N127.75 trillion, while the year-to-date (YTD) return eased to 27.89%, reflecting post-holiday profit-taking in the market.
Despite the overall decline, market breadth closed positive, with 43 gainers compared to 23 decliners.
Market activity
Trading activity declined significantly, with total volume dropping by 86.00% to 848.84 million shares, valued at N53.34 billion across 139,458 deals.
UBA recorded the highest volume, with 114.17 million shares traded, accounting for 13.45% of total volume.
MTN Nigeria led in value terms, with trades worth N17.45 billion, representing 32.72% of the day’s total value.
Wema Bank and Access Holdings accounted for 13.19% and 6.45% of total traded volume, respectively, while UBA and Zenith Bank followed MTN Nigeria in traded value.
Top gainers
- FGSUK2032S5 rose from N90.05 to N100.00, gaining N9.95 (+11.05%).
- Presco advanced from N1,701.10 to N1,871.20, up N170.10 (+10.00%).
- Zichis increased from N8.58 to N9.43, gaining N0.85 (+9.91%).
- John Holt climbed from N11.85 to N13.00, up N1.15 (+9.70%).
- Premier Paints rose from N23.40 to N25.65, gaining N2.25 (+9.62%).
Top losers
- Conhall Plc fell from N4.98 to N4.50, losing N0.48 (-9.64%).
- Deap Capital declined from N6.45 to N5.91, down N0.54 (-8.37%).
- GTCO dropped from N114.35 to N105.00, shedding N9.35 (-8.18%).
- International Energy Insurance fell from N3.00 to N2.77, losing N0.23 (-7.67%).
- Nigerian Breweries declined from N75.50 to N70.00, down N5.50 (-7.28%).
Most active stocks
- UBA led activity with 114.17 million shares valued at N5.54 billion.
- Wema Bank traded 111.95 million shares worth N2.92 billion.
- Access Holdings recorded 54.75 million shares valued at N1.42 billion.
- Zenith Bank traded 38.17 million shares worth N4.08 billion.
- Zichis posted 32.21 million shares valued at N272.60 million.
Source: Legit.ng
