Stock Market Starts New Week Low As Investors Lost N275bn
- The Nigerian stock market extended its losses into the new week, as the market remains cautious
- The All-Share Index declined, and investors recorded about N275bn in market value decline
- The decline was driven by profit-taking across major stocks, including May & Baker Nigeria Plc stocks
CHECK OUT: How to Start Earning with Copywriting in Just 7 Days – Even if You’re a Complete Beginner
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 stock market started the new week on a bearish note on Monday, March 30, 2026, as investors lost N275.15 billion amid widespread selloffs in major stocks.
The decline was driven by losses in May & Baker Nigeria Plc, Lafarge Africa Plc, Zenith Bank Plc, Dangote Sugar Refinery Plc, Guaranty Trust Holding Company Plc, and Wema Bank Plc, alongside 28 other decliners.
Source: Getty Images
As a result, the benchmark All-Share Index (ASI) fell by 0.21% to close at 200,484.43 points, down from 200,913.06 points recorded on Friday. Market capitalisation also dropped from N128.96 trillion to N128.69 trillion.
Market sentiment remained negative, with 34 decliners compared to 27 gainers, indicating a broadly bearish market breadth. Austin Laz led the gainers’ chart, while NSL Tech topped the losers’ list.
Top gainers
- Austin Laz rose from N4.01 to N4.41, gaining N0.40 (+9.98%).
- Zichis climbed from N13.79 to N15.16, adding N1.37 (+9.93%).
- Transcorp Express increased from N2.59 to N2.84, up N0.25 (+9.65%).
- TIP advanced from N19.80 to N21.70, gaining N1.90 (+9.60%).
- Learn Africa rose from N8.50 to N9.30, up N0.80 (+9.41%).
Top losers
- NSL Tech fell from N1.30 to N1.17, losing N0.13 (–10.00%).
- May & Baker Nigeria dropped from N41.95 to N38.00, losing N3.95 (–9.42%).
- Legend Internet declined from N7.50 to N6.85, shedding N0.65 (–8.67%).
- Cutix decreased from N3.50 to N3.21, losing N0.29 (–8.29%).
- FTN Cocoa Processors (FTN Insurance) fell from N1.38 to N1.27, down N0.11 (–7.97%).
Source: Getty Images
Most active stocks (volume/value)
- Access Holdings: 86,642,578 shares worth N2.25 billion
- First HoldCo: 84,557,177 shares worth N4.26 billion
- NSL Tech: 31,122,600 shares worth N37.35 million
- Fidelity Bank: 26,730,107 shares worth N512.40 million
- Zenith Bank: 26,127,257 shares worth N2.63 billion
Nigerian billionaire makes $2.2bn in 30 days
Earlier, Legit.ng reported that Nigerian billionaire Abdulsamad Rabiu has seen his net worth surge by $2.2 billion in less than 30 days in March 2026.
Data tracked from the Bloomberg Billionaires Index shows that Rabiu’s fortune rose from $11.8 billion as of March 1, 2026, to $14 billion.
So far in 2025, Rabiu's net worth has increased by $4.13 billion as at Monday, March 30.
The increase was driven largely by a strong rally in the shares of his listed companies, BUA Cement Plc and BUA Foods Plc.
Source: Legit.ng
