The market value of the 302 listed securities closed at N7.2 trillion, down by 8.7% from N7.86 trillion recorded in the preceding month. The decline in market capitalization can be attributed to the decline in the prices of most equities. The 214 listed equities accounted for N4.5 trillion or 62.6% of total market capitalization, down from N5.24 trillion or 66.64% in February. The Top five equities with market capitalization of N1.23 trillion were dominated by the banks with four representatives. Only Nigerian Breweries Plc represented the non-bank companies in the Top 5. Also, the Top 10 equities accounted for N1.94 trillion of the total market capitalization.

Wema Bank Plc and African Petroleum Plc dropped out of the Top 20 Table to allow the entry of Diamond Bank Plc and First City monument Bank Plc, though the two new entrants suffered declines in market capitalization. Two Companies – Zenith Bank Plc and Guinness Nigeria Plc recorded increases in market capitalization while Ecobank Nigeria Plc did not record any change in market capitalization on account of the imposition of technical suspension. The remaining Companies suffered declines in market capitalization. The market capitalization of the Top 20 companies totaled N2.81 trillion, representing 62.55% of the equity market and 39.15% of the entire market capitalization, down from N3.3 trillion in the preceding month.

First Bank of Nigeria Plc retained the position of the most capitalized stock for the month, with a market capitalization of N392.83 billion, down by 8.14% from the N427.64 billion recorded in February. Nigerian Breweries Plc was second with N270.4 billion (down by 1.84%) while Ecobank Nigeria Plc recorded N201.82 billion to occupy the third position.

Zenith Bank Plc and United Bank for Africa Plc occupied the 4th and 5th positions to complete the Top 5. See Table for the twenty most capitalized stocks.