Market Momentum Builds as NGX Indices Record Solid Weekly Gains
Performance of the All-Share Index and major NGX indices
The Nigerian Exchange (NGX) posted a strong performance in the week ended January 16, 2026, as investor confidence continued to lift the market into positive territory. The NGX All-Share Index (ASI) climbed steadily to 166,129.50 points from 162,298.08 points in the previous week, reflecting a 2.36% weekly gain and extending the market’s positive run for its seventh consecutive weekly gain since December.
Similarly, the market capitalization surged by 2.48% week-on-week to finish the week at N106.35 trillion. This jump translated into roughly N2.6 trillion in wealth creation for equity holders, underlining the strong appetite for Nigerian equities at the start of the year.
The NGX Premium Index posted a 4.13% weekly gain, driven largely by gains in heavyweight stocks. First Holdco surged by 12.80%, Seplat posted 8.57%, MTN rose by 5.45%, and Lafarge added 4.73% in the review week.
Sectoral Highlight
Across sectoral indices, most sectors posted solid gains, reflecting broad-based investor interest:
The NGX Oil & Gas Index led the race, surging 5.71% for the week. stocks such as Seplat (8.57%), Aradel (3.88%), Japaul Gold (3.20%), and Oando (1.25%) added strong contributions, lifting sector sentiment
The NGX Banking Index also recorded a robust gain, rising by 3.45%, driven by gains in FirstHoldco (12.80%), Fidelity Bank (5.77%), Ecobank Transnational (5.26%) and tier-1 lenders like Wema Bank, Zenith Bank, and UBA.
The NGX Insurance Index also saw 1.78% gain, followed by the NGX Consumer Goods Index, with 1.59%, and the Industrial Goods Index finished higher by 0.67%
Trading activity remained robust across the board, with investors exchanging 4.607 billion shares during the week. This was up from the previous week’s 4.164 billion shares, signalling deeper participation and higher liquidity.
Market breadth told a similarly positive story. Advancing stocks far outnumbered losers, with 80 gainers against 17 decliners, while 50 equities remained unchanged.
Market Overview
– ASI Weekly Close: 166,129.50 points
– Week-on-Week Change: 2.36 %
– Year-to-Date Return: 6.76%
– Market Capitalization: N 106.354 trillion
Top Gainers
NCR (NIGERIA) PLC. up 60.79%
S C O A NIG. PLC. up 59.36%
DEAP CAPITAL MANAGEMENT & TRUST PLC up 48.67%
JAIZ BANK PLC up 45.73%
OMATEK VENTURES PLC up 38.28%
RED STAR EXPRESS PLC up 25.71%
Top Losers
IKEJA HOTEL PLC -12.38%
AUSTIN LAZ & COMPANY PLC -9.20%
ETERNA PLC. -7.71%
UNIVERSAL INSURANCE PLC -7.69%
EUNISELL INTERLINKED PLC -7.57%
LASACO ASSURANCE PLC. -6.72%
This latest weekly performance highlights continued confidence in Nigeria’s stock market. The sustained gain in the ASI, rising market cap, and strong breadth indicate a market that is capturing value across diverse sectors and attracting broad investor interest early in the year.
