The Nigerian equities market ended Friday, 9 January 2026, on a positive note as the All-Share Index (ASI) rose 0.93% to 162,298.1 points, maintaining its position above the 160,000-threshold.
Trading activity slowed slightly, with 624 million shares changing hands, down from 645 million in the previous session, reflecting measured investor participation.
Market capitalization edged higher to N103.7 trillion across 43,816 deals, up from N102.8 trillion a day earlier.
What the data shows
The ASI’s 0.93% gain on Friday brought the year-to-date performance to 4.30%, signaling strong investor confidence in the equity market.
The session’s top performers included Industrial and Medical Gases, SCOA Nigeria, and McNichols Plc, which each gained the maximum 10.00%, while Aluminum Extrusion Industries and Austin Laz led the laggards, shedding 9.91% and 9.83% respectively.
On the volume side, eTranzact International dominated with 72.9 million shares traded, followed by Chams Holdings (30.3 million) and Access Holdings (27.9 million).
In terms of transaction value, Unilever Nigeria topped the chart with N1.7 billion, ahead of Aradel Holdings (N1.3 billion) and Zenith Bank (N1.1 billion).
Among the SWOOT (Stocks Worth Over One Trillion) stocks, performance was mixed:
LAFARGE gained 2.04%
On the flip side, INTERNATIONAL BREWERIES dropped 1.99%, while STANBIC IBTC lost 1.79%.
Similarly, the FUGAZ banking group showed a mixed performance:
ACCESSCORP gained 0.22%, while GTCO rose 0.20%
ZENITHBANK closed flat
FIRSTHOLDCO and UBA declined 1.91% and 0.68%, respectively.
Top 5 gainers
- IMG — Up 10.00% to N35.20
- SCOA — Up 10.00% to N9.35
- MCNICHOLS — Up 10.00% to N5.50
- MAY & BAKER — Up 9.92% to N28.80
- FTN COCOA — Up 9.90% to N6.66
Top 5 losers
- ALEX — Down 9.91% to N19.10
- AUSTINLAZ — Down 9.83% to N4.13
- SOVRENINS — Down 9.63% to N3.38
- PRESTIGE — Down 9.57% to N1.70
- UPDC — Down 9.09% to N5.00
More insights
While the market saw strong gainers, the broad-based rally faced some resistance from stocks undergoing profit-taking.
Investor participation remained relatively high but showed signs of tapering, with total volume traded slipping slightly from 645 million to 624 million shares.
This may indicate cautious rebalancing among investors despite the overall bullish sentiment.
Mid-cap stocks continue to attract increased attention.
Why this matter
The NGX’s ability to maintain its position above the 160,000-mark highlights sustained market confidence early into 2026.
The robust performance in key equities, despite slowing trade volumes, points to a selective but optimistic investor base.
As buying focuses on mid- and large-cap counters, the market may experience a more stable upward trend rather than a speculative rally.
Market outlook
With the ASI comfortably above 162,000, continued buying in mid- and large-cap stocks could lift the index further.
Market analysts suggest that sustained momentum may support additional gains, though minor pullbacks are possible as investors adjust positions.
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