- NGX equities market capitalisation crossed N100 trillion in early January 2026, rising by N1.87 trillion within two trading sessions to N101.81 trillion, driven by strong buying interest and the “January Effect.”
- The All-Share Index gained 1.74% in the latest session, lifting YTD returns to 2.32%, with 73 stocks advancing against eight decliners, signaling broad-based investor confidence amid improving macroeconomic conditions.
- Trading activity surged with 695.64 million shares exchanged, while Zenith Bank, WAPCO, and Aradel Holdings led by value; ETFs also grew to N50.45 billion, underscoring rising interest across asset classes.
Nigerian Exchange (NGX) opened the year on a strong footing, with equities market capitalisation crossing the N100 trillion mark, buoyed by renewed investor demand and broad-based gains across listed stocks.
Market data showed that equities market capitalisation rose from N99.94 trillion on January 2 to N101.81 trillion by January 5 to open the week positive, translating to a N1.87 trillion increase within two trading sessions.
In dollar terms, market capitalisation advanced from $69.61 billion to $71.15 billion.
The All-Share Index (ASI) gained 1.74 percent in the latest trading session, lifting both month-to-date and year-to-date returns to 2.32 percent. The rally was driven by strong buying interest in stocks such as Cadbury Nigeria, Fidson Healthcare, and Champion Breweries, reflecting the traditional “January Effect” that often characterises early-year market activity.
Investor sentiment strengthened markedly, with market breadth improving to 9.13x as 73 equities recorded gains against eight decliners, signalling widespread participation in the rally.
Commenting on the milestone, Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, said the achievement reflects growing confidence in the Nigerian capital market.
“The equities market capitalisation crossing the N100 trillion mark is a defining milestone for Nigeria’s capital market and a clear signal of renewed investor confidence as the year begins,” Popoola said. “It reflects the market’s growing depth, resilience, and ability to respond positively to improving macroeconomic conditions and structural reforms.”
He added that sustained collaboration between market stakeholders and regulators has played a key role in strengthening market credibility. “Over the past two years, closer alignment between market operators, policymakers, and the Securities and Exchange Commission (SEC) has enhanced transparency, liquidity, and investor protection, reinforcing the Exchange’s role in mobilising long-term capital for economic growth,” he said.
Providing further insight into market activity, Jude Chiemeka, Chief Executive Officer, Nigerian Exchange Limited, noted that the rally was supported by improving participation and selective demand across key sectors.
“The breadth of the market tells a positive story,” Chiemeka said. “We are seeing strong participation across banking, industrial, and consumer stocks, alongside rising trading volumes, which suggests growing investor confidence and a more active market at the start of the year.”
Trading activity was mixed during the session. Total volume traded rose by 58.13% to 695.64 million shares, while the value of transactions declined by 25.57% to N18.57 billion across 56,606 deals. Year-to-date equities turnover increased to N43.52 billion.
To open the week, Zenith Bank led trading by value at N3.51 billion, followed by WAPCO with N2.56 billion and Aradel Holdings at N1.57 billion, while Access Holdings and GTCO also featured among the most actively traded stocks.
Meanwhile, fixed income market capitalisation remained unchanged at N51.48 trillion, while the exchange-traded funds segment recorded growth, with market capitalisation rising to N50.45 billion, underscoring increasing investor interest across asset classes.
