The Nigerian All-Share Index (ASI) fell by 714.7 points to 166,057.3 on 15 January 2026, ending a nine-day winning streak, even with gains in stocks such as Nestle.
Despite the decline, trading activity surged, with volume rising to 1.03 billion shares from 761.9 million in the previous session.
However, market capitalization mirrored the slide, slipping to N106.3 trillion across 51,227 deals, down from N106.7 trillion recorded in the prior session.
Overall, the session highlights a temporary pause in bullish momentum, even as investor participation remained high.
What the data is saying
The ASI’s 0.43% decline brought the year-to-date performance to 6.71%, signaling some profit-taking across select counters.
Top gainers included Nestle and NCR (Nigeria), which rose 10.00% and 9.97%, respectively, while McNichols and Caverton led the losers, falling 9.99% and 9.47%.
- On the volume side, Sovereign Trust Insurance saw the highest activity with 245.1 million shares traded, followed by Access Holdings with 78.4 million and Zenith Bank with 72.4 million.
- Jaiz Bank and Lasaco completed the top five, exchanging 53.7 million and 53.4 million shares, respectively.
By transaction value, ZenithBank topped the session at N5 billion, followed by Geregu at N4.1 billion, Nestle at N2.3 billion, GTCO at N2 billion, and Access Holdings at N1.8 billion.
Top 5 Gainers
- NESTLE— Up 10.00% to N2,153.80
- NCR — Up 9.97% to N116.90
- JAIZBANK— Up 9.92% to N8.20
- MORISON— Up 9.90% to N5.66
- MECURE— Up 9.84% to N97.70
Top 5 Losers
- MCNICHOLS— Down 9.99% to N6.58
- CAVERTON— Down9.47% to N7.65
- IKEJAHOTEL— Down9.43% to N35.05
- FTNCOCOA— Down9.38% to N7.05
- NEIMETH— Down8.91% to N9.20
SWOOTs and FUGAZ
Stocks worth over one trillion naira (SWOOTs) maintained a bearish tone during the session, with Aradel down 5.11%, Nigerian Breweries falling 2.33%, and International Breweries slipping 0.67%.
Among the FUGAZ banking stocks, UBA lost 0.44%, GTCO declined 0.10%, and Access Holdings shed 0.65%. Zenith Bank closed flat.
On the positive side, First Holdco bucked the trend, gaining 4%.
Why it matters
The market’s mixed performance highlights a pause in the recent bullish momentum.
While large-cap SWOOTs and key FUGAZ banking stocks experienced profit-taking, selective gains like First Holdco show that investor confidence remains in certain counters.
This session reflects a market rotation, where traders balance risk and opportunity even as overall activity remains strong.
Market outlook
The All-Share Index ended its nine-day winning streak, holding just above the 166,000 mark.
If selling pressure continues, the market could experience a short-term retracement, potentially creating buying opportunities for investors.
