Shares of Zichis Agro-Allied Industries Plc surged by 9.91% on Monday, March 23, 2026, immediately following the lifting of a month-long trading suspension by the Nigerian Exchange (NGX) Regulation Limited.
The stock, which had been frozen since February 23 due to a suspicious 859% price rally within five weeks of its January listing, resumed trading at an adjusted price of ₦8.58.
This adjustment down from its pre-suspension close of ₦17.36 accounted for a 1-for-1 bonus issue and a 20 kobo dividend.
Strong buy interest upon the resumption of trading pushed the stock price up to ₦9.43 during the session, as regulators concluded their investigation and implemented corrective measures to ensure market integrity.
This individual stock performance occurred against a backdrop of broader market volatility, as the NGX All-Share Index (ASI) slipped below the historic 200,000-point threshold.
The benchmark index had recently crossed the 200,000 mark on March 16, 2026, reaching an all-time high of 201,474.89 points, but subsequent profit-taking and sell-offs in large-cap stocks dragged the index back into the 190,000 range.
Despite the dip below this psychological level, market analysts noted that year-to-date returns remain robust at approximately 29%, reflecting a general upward re-rating of the Nigerian capital market driven by ongoing economic reforms and strong corporate earnings.
Source: Nairametrics
