NGX Market Wrap: Nigerian Stocks Open 2026 in Positive Territory
Top gainers and top losers of the week.
The Nigerian Exchange (NGX) started the year 2026 on a strong and encouraging note, as equities closed the first full trading week ended January 9, 2026, in positive territory. The NGX All-Share Index recorded a solid weekly gain to close at 162,298.08 points, up from 156,492.36 points in the previous week. This reflects a 3.71% gain, supported by broad market participation and an improvement in market breadth.
Market capitalization similarly strengthened. Total equity value on the NGX increased as share prices climbed, bringing the market cap above the N100 trillion threshold to close at N103.776 trillion. This rise shows that investors’ total wealth on the exchange expanded significantly over the period and reaffirms confidence in the domestic equity market.
During the week, trading activity was moderate with lower volume traded compared to the prior week. A total of 4.164 billion shares was traded, in contrast to 7,821 billions in the prior week. Despite this, price appreciation remained strong, showing that demand for equities outweighed selling pressure.
The NGX Premium Index gained by 5.38% on the back of strong performance from Lafarge (+11.52%), Seplat (+10%), MTN Nigeria (+7.63%), Dangote Cement (+4.27%), Zenith Bank (+3.88%)
The NGX 30 recorded a gain of 3.38% by the end of the review week.
Sectoral Highlight
Sectoral performance was broadly encouraging. The NGX Insurance Index posted a 6.82% gain, benefiting from broad support across listed insurance companies. The NGX Industrial Goods Index surged by 4.74%, driven by Lafarge (+11.52%), Dangote Cement (+4.27%), and BUA Cement (+2.52%).
The NGX Oil & Gas Index rose by 4.70%, driven by strong gains from Eterna (+22.81%), Seplat (+10.00%) and Aradel (+0.51%).
The NGX Banking Index also posted a modest gain of 3.07%
Market breadth remained positive, as the number of advancing stocks clearly outpaced decliners. 84 equities advanced in price during the week, higher than 73 equities in the previous week. 22 equities declined in price while 42 equities remained flat
Market Highlight
ASI Weekly Close: 162,298.08 points
Week-on-Week Change: 3.71%
Year-to-Date Return: 4.30%
Market Capitalization: N103.776 trillion
Top Gainers
MULTIVERSE MINING AND EXPLORATION PLC up 59.73%
MCNICHOLS PLC up 53.20%
MAY & BAKER NIGERIA PLC. up 51.58%
DEAP CAPITAL MANAGEMENT & TRUST PLC up 43.54%
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC up 43.22%
Top losers
ALUMINIUM EXTRUSION IND. PLC. -19.75%
AUSTIN LAZ & COMPANY PLC -11.56%
SOVEREIGN TRUST INSURANCE PLC -11.29%
IKEJA HOTEL PLC -10.91%
JULI PLC. -9.93%
The NGX’s positive start to 2026 signals improving investor confidence and a stronger risk appetite. Despite the fluctuation in the trading volume, the Nigerian stock market could maintain its upward trend, provided macroeconomic conditions remain stable, and earnings expectations continue to improve.
