The Nigerian Exchange Limited (NGX) closed the trading week on a buoyant note, as the All-Share Index surged 2.36% to settle at 166,129.50 points, driving total market capitalisation to a new high of N106.35 trillion and reinforcing the bullish sentiment that has dominated early 2026 trading.
The week’s performance marked a clear step up from the previous period, with total turnover climbing to 4.607 billion shares valued at N130.636 billion across 263,439 deals — a notable increase from the 4.164 billion shares worth N94.026 billion traded in 248,254 deals the week before.
Financial Services stocks dominated the session, accounting for 67.84% of total volume. Sovereign Trust Insurance Plc, Access Holdings Plc, and Linkage Assurance Plc emerged as the most active names, collectively handling 1.406 billion shares valued at N9.735 billion — representing 30.52% of weekly volume and 7.45% of total value.
Sectoral activity was led overwhelmingly by Financial Services, which saw 3.126 billion shares worth N47.225 billion change hands in 94,186 deals, contributing 36.15% to overall equity turnover value. The Services industry followed with 353.436 million shares valued at N5.096 billion, while the ICT sector ranked third with 277.263 million shares worth N18.009 billion.
Market breadth remained firmly positive, with 80 equities recording price gains — though slightly down from 84 the previous week — while only 17 stocks declined, an improvement from 22 losers the week prior.
Among the standout performers, NCR (Nigeria) Plc delivered the week’s biggest jump, soaring 60.79% from N79.95 to N128.55. SCOA Nigeria Plc followed closely with a 59.36% gain, and DEAP Capital Management & Trust Plc advanced 48.67%.
Not all counters shared in the celebration. Ikeja Hotel Plc led the decliners, dropping 12.38% from N40.00 to N35.05. Austin Laz & Company Plc and Eterna Plc also posted notable losses.
Sectoral indices closed broadly higher, with the exception of the NGX AFR Dividend Yield Index, which eased 0.15%. The strong showing in Financial Services, combined with broad-based buying interest, underscored renewed investor confidence in Nigeria’s equities market despite ongoing macroeconomic headwinds.
Analysts attribute the rally to continued bargain hunting in fundamentally sound stocks, expectations of robust corporate earnings, and portfolio rebalancing as the year progresses. With market capitalisation now firmly above N106 trillion, many see the potential for sustained momentum in the weeks ahead — provided profit-taking remains disciplined.
As traders head into the new week, attention will be on whether the Financial Services sector can maintain its leadership role and whether the broader market can build on this positive close to push the NGX toward even higher ground. For now, the Nigerian Exchange is riding a wave of optimism that has carried it strongly through the first half of January 2026.
