The Nigerian Exchange Limited (NGX) witnessed a mild retreat on Wednesday, March 18, 2026, with the All-Share Index declining 0.69% to close at 201,156.86 points, pulling total market capitalisation below the N130 trillion mark for the first time in recent sessions.
The benchmark index opened the day at 202,559.41 points but surrendered early gains amid selective profit-taking and cautious investor sentiment following a prolonged period of record highs. Market capitalisation contracted by approximately N900 billion, settling at N129.125 trillion from an opening value of N130.025 trillion.
Analysts described the session as a short-term correction after weeks of strong upward momentum that had propelled the index to new peaks. While the broader market softened, trading activity remained active, with 38 stocks declining against 31 advancers.
NSLTECH led the gainers’ table with the maximum allowable increase of 10.00%, rising from N1.20 to N1.32. Beverage leader Guinness Nigeria followed closely, advancing 9.92% to close at N423.20. Other notable performers included John Holt, Sovereign Trust Insurance, and Linkage Assurance, all posting gains exceeding 9%.
On the losing side, Red Star Express topped the decliners with a 9.98% drop to N25.70. Heavyweight counters such as Aradel (-9.68%) and Presco (-9.30%) contributed significantly to the market’s downward pressure. Additional selling pressure was seen in Living Trust Mortgage Bank and Daar Communications.
The mid-week pullback reflects typical investor behaviour after a sustained rally, with participants locking in profits in some high-flying stocks while selectively accumulating in undervalued or resilient names. Despite the dip, the All-Share Index remains well above the 200,000-point level, suggesting the broader uptrend remains intact.
Market watchers will closely monitor upcoming corporate earnings releases, liquidity flows, and any fresh macroeconomic or policy developments for cues on whether the current consolidation proves temporary or signals a deeper corrective phase. With sentiment still underpinned by strong fundamentals in key sectors, the NGX is expected to remain a focal point for both domestic and international investors in the near term.
