ASI climbs 1.39% to 195,514.2 as oil stocks surge

The Nigerian All-Share Index (ASI) ended March 2, 2026, up 2,687.5 points to 195,514.2, a 1.39% gain from its open of 192,826.8. This recovery follows a four-day losing streak, pushing year-to-date returns to 25.64%. The rally was driven by rising crude oil prices, up 5.45% due to US-Iran conflict fears disrupting Iran's exports. Nigerian oil stocks Aradel and Oando surged over 9%, boosting market confidence. Market activity saw 84,259 deals with N125.4 trillion in market cap. Top gainers included NGX Group (+10.00%), Aradel (+9.99%), and UHOM REIT (+9.96%). Aradel led turnover with N6.09 billion. The ASI's recovery helped it reclaim the 195,000 level last seen February 23.

SOURCE: https://nairametrics.com/2026/03/02/nigerian-stocks-surge-despite-us-iran-war-oil-equities-shine/