The Nigerian stock market wasted no time in 2026, roaring to life on Monday with a massive N745 billion gain in total market capitalisation, as renewed buying appetite swept through key counters and lifted investor confidence.
By the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index climbed 946.61 points, or 0.58%, to settle at 163,244.69 points — up from Friday’s 162,298.08. Market capitalisation followed suit, jumping from N103.78 trillion to N104.52 trillion, extending the recent breach above the psychological N100 trillion milestone.
Trading activity was brisk and broad-based. A total of 1.15 billion shares changed hands in 59,326 deals, valued at N19.21 billion. That represented an impressive 84% jump in volume, a 4% rise in turnover value, and a 35% increase in the number of transactions compared with the previous session.
Of the 128 equities that traded, sentiment tilted firmly positive: 49 stocks closed higher, while only 20 ended in the red, giving the market a clear bullish tilt.
Leading the charge on the gainers’ board were several mid- and small-cap names that hit their daily 10% upper limits. E-Tranzact International surged 10% to N16.50, Red Star Express closed at N11.55 after a 10% rally, McNichols rose to N6.05, UPDC advanced to N5.50, RT Briscoe ended at N3.96, and Deap Capital Management and Trust finished at N3.30 — all locking in the maximum daily gain.
On the flip side, Champion Breweries took the biggest hit, shedding 8.51% to close at N15.05. Eunisell Interlinked dropped 8.01% to N156.20, Ikeja Hotel lost 8% to N36.80, Guinea Insurance fell 7.30% to N1.27, Omatek Ventures declined 3.12% to N1.24, and Lasaco Assurance eased 2.99% to N2.60.
Volume leaders were dominated by insurance names, with Sovereign Trust Insurance topping the list after more than 307 million shares traded. Fidelity Bank followed closely with around 158 million units, while Linkage Assurance and Mutual Benefits Assurance also saw heavy action.
In value terms, Fidelity Bank led the pack with transactions worth N3.14 billion, supported by strong turnover in Aradel Holdings, Zenith Bank, Eunisell Interlinked, and Sovereign Trust Insurance.
Market watchers attributed the strong performance to bargain hunting in undervalued stocks — especially in banking and insurance — as well as growing optimism around upcoming full-year corporate earnings reports. The breach above N100 trillion in capitalisation has also boosted sentiment, with many investors rebalancing portfolios and positioning for what they see as continued resilience in Nigeria’s equities space.
Analysts expect the momentum to persist in the near term, driven by selective buying and expectations of solid earnings delivery, though they caution that profit-taking could trigger occasional pullbacks.
With the NGX maintaining its status as one of Africa’s standout performers, Monday’s N745 billion gain sets an encouraging tone for the year ahead — a reminder that even amid macroeconomic headwinds, Nigeria’s stock market continues to attract capital and deliver returns for those willing to stay invested.
