Na serious market action we dey talk about for Nigerian Exchange Limited (NGX) dis week. Investors don show say dem no dey play as dem trade whopping 8.761 billion shares wey value reach N267.253 billion for just 193,473 deals. Dis kain massive turnover happen for only three business days because Federal Government declare public holidays for 19 and 20 March to celebrate Eid-el-Fitr. When you compare am with last week wey investors trade 3.321 billion shares worth N164.845 billion, you go see say dis new one na serious jump.
Wetin cause all dis market wahala? Na ICT industry carry first for volume of trading. Dem account for 5.330 billion shares wey value N46.825 billion, and dis one contribute 60.84 per cent to total equity turnover wey happen for di week. Di heavy trading for companies like E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc na wetin push di volume reach nearly 70 per cent of di week total.
Di market primary benchmarks show say investors dey bullish wella. NGX All-Share Index and Market Capitalisation both appreciate by 1.39 per cent to close di week at 201,156.86 points and N129.126 trillion respectively. But make we no forget say sectoral performance no dey same for everywhere. NGX Insurance, NGX Oil & Gas, and NGX Commodity indices record depreciations, while NGX Sovereign Bond index remain flat.
Amidst all dis volatility, di exchange still expand im offerings. Dem list NGX30U6 and NGXPENSIONU6 Futures Contracts, plus new commercial paper issuances from NGN Gram Limited wey total billions in value. Market analysts from Meristem Securities observe say investors dey move with increased urgency to secure positions before market conditions shift further. According to dia weekly review, “As yields begin to trend lower, investors move quickly to lock in still-attractive rates before further declines materialise, a behaviour evident in the significant rise in subscriptions and the downward trend of average Treasury bill yields.”
Dis aggressive positioning show say despite di holiday-shortened window, appetite for both high-volume equities and debt instruments remain at peak for first quarter of 2026. Di current surge for ICT sector no be just weekly anomaly; e represent significant structural shift for Nigerian Exchange wey don dey gain momentum since 2024. Historically, Financial Services industry be di traditional heavyweight of Nigerian market, often accounting for 50 per cent to 70 per cent of total trading activity. But data from March 2026 show ICT sector contribute 60.84 per cent of total volume and 17.52 per cent of value, stark contrast to im historical standing.
Wetin cause dis dominance wey happen for third week of March 2026? Several critical factors dey involved, including di ‘Fintech’ surge. Companies like E-Tranzact don see dia market capitalisations nearly double for last 12 months, hitting N180 billion for March 2026. Dis one reflect massive adoption of digital payment infrastructure for Nigeria. Di growth no dey limited to just telecom giants like MTN and Airtel; mid-cap technology firms wey specialise for cloud computing and data centres dey see unprecedented trading volumes as Nigeria “Digital Public Infrastructure” dey expand.
ICT sector 58 per cent year-on-year market capitalisation growth for 2025 set di stage for high-conviction trading wey dem see dis month. While Financial Services sector still lead for value with N95.892 billion compared with ICT N46.825 billion dis week, di sheer volume of shares wey dey change hands for ICT indicate say retail and institutional investors dey increasingly view technology as primary engine for future growth.
Market analysts don note say di rush into equities and tightening of yields for fixed-income space suggest strategic shift among institutional players. Di behaviour show say investors dey position dia portfolio to benefit from current market conditions before any potential changes. Di listing of new futures contracts and commercial paper issuances also add more depth to di market, giving investors more options to diversify dia investments.
Overall, di shortened trading week for Nigerian Exchange Limited don show remarkable resilience and activity. Di significant increase in trading volume and value, especially for ICT sector, point to evolving investor sentiment and market dynamics. As Nigeria economy continue to develop and digital infrastructure expand, technology companies likely go remain key drivers of market activity for foreseeable future.
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