The Nigerian Exchange Limited (NGX) maintained its upward momentum on Tuesday, adding N125.65 billion to total market capitalisation and pushing the figure to N106.09 trillion, even as trading volume declined sharply.
The All-Share Index (ASI) rose modestly by 0.12%, or 196.26 points, to close at 165,713.82 points — up from Monday’s 165,517.56. The gain reflected continued selective buying interest, particularly in mid- and small-cap stocks, despite a broader slowdown in activity.
A total of 483.09 million shares changed hands across 41,499 deals, valued at N17.38 billion. Volume fell 19.70% compared with the previous session, while the number of deals also eased, indicating more cautious participation from investors.
Market breadth remained positive, with 33 stocks recording gains against 25 decliners. Leading the winners was SCOA Nigeria Plc, which climbed 9.94% from N26.15 to N28.75. Union Homes Real Estate Investment Trust PLC and DEAP Capital Plc both gained 9.94% to close at N86.25 and N8.63 respectively. Morison Industries Plc rose 9.92% to N9.09, and RT Briscoe Plc advanced 9.89% to N7.22.
On the losing side, Austin Laz & Company Plc led the decliners with a 9.96% drop from N4.82 to N4.34. Neimeth International Pharmaceuticals Plc fell 9.62% to N10.80, while Prestige Assurance Plc shed 7.37% to close at N1.76.
Trading was dominated by a handful of counters. Access Holdings Plc led by volume with 26.46 million shares worth N599.77 million. GTCO Plc followed with 25.28 million shares valued at N2.49 billion. NSLTech Plc traded 24.69 million shares worth N23.77 million, while Japaul Gold Plc and Tantalizers Plc recorded 21.40 million shares (N54.22 million) and 20.28 million shares (N72.73 million) respectively.
In a separate development, Providus Bank and Unity Bank have confirmed plans to merge, with Unity Bank’s entire share capital set to be extinguished. Shareholders of Unity Bank will receive either cash or shares in the resulting entity, pending regulatory approvals.
Analysts attribute Tuesday’s modest gain to ongoing portfolio repositioning and bargain hunting in fundamentally sound stocks, even as lower volume suggests some investors are adopting a wait-and-see stance ahead of corporate earnings releases and macroeconomic updates.
With market capitalisation now firmly above N106 trillion, the NGX continues to demonstrate resilience in early 2026. Investors will be watching whether the current momentum can persist or if reduced activity signals the start of a consolidation phase. For now, the market remains in positive territory, supported by selective demand in key sectors.
