The Nigerian All-Share Index (ASI) gained 3,831.42 points to close the week ended 16 January 2026 at 166,129.50, extending its upward momentum and finishing the week in positive territory.
This reflects a 2.36% increase from the week’s opening level of 162,298.08, securing a seventh consecutive weekly gain on Customs Street since early December 2025.
Trading activity strengthened, with 4.6 billion shares traded in 263,439 deals, up from 4.16 billion previously, while market capitalization climbed 2.48% to N106.3 trillion.
Market breadth was broadly positive, as 80 stocks recorded price gains, slightly below the 84 gainers seen in the prior week. Decliners eased to 17 from 23, while 50 equities closed unchanged.
What the data is saying
The Nigerian stock market closed four out of five trading sessions in the green in the week ended 16 January, driven by strong early-week buying.
- On Monday, the benchmark index jumped 946 points to close at 163,244.7.
- The rally gained momentum on Tuesday, with a further 2,592.6 points added, pushing the market decisively above the 165,000 mark.
- Although most of the remaining sessions ended positively, Thursday stood out as the only down day, with the index slipping 0.43%.
- Even so, the market held firm above the 166,000 level and edged higher on Friday, closing up 0.04%.
Market performance was boosted by the NGX Premium Index, which rose 4.13%, supported by strong gains in heavyweight stocks.
- First Holdco surged 12.80%, while Seplat gained 8.57%, MTN rose 5.45%, Lafarge added 4.73%, Zenith Bank advanced 4.25%, UBA climbed 2.73%, and Access Holdings edged up 0.44%.
Elsewhere, the NGX 30 Index rose 2.26%, while the NGX Main Board Index recorded a gain of 1.15% for the week.
Sectoral performance
Sectoral indices closed broadly positive during the week, with gains recorded across most segments of the market.
Leading the advance, the NGX Oil & Gas Index rose 5.71%, supported by strong price moves in Seplat (8.57%), Aradel (3.88%), Japaul Gold (3.20%), and Oando (1.25%).
Banking stocks also posted solid gains, with the NGX Banking Index up 3.45%.
- FirstHoldco surged 12.80%, while Fidelity Bank gained 5.77% and Ecobank Transnational advanced 5.26%.
- Other tier-one lenders, including Wema Bank, UBA, Zenith Bank, and Access Holdings, recorded gains of less than 5%.
Elsewhere, the NGX Insurance Index added 1.78%, followed by the NGX Consumer Goods Index, which rose 1.59%.
- Rounding out the sectoral performance, the NGX Industrial Goods Index edged up 0.67%.
Top gainers
The top-performing stocks for the week were:
- NCR (Nigeria) Plc: up 60.79% to N128.55
- SCOA Nigeria Plc: up 59.36% to N14.90
- Deap Capital Management & Trust Plc: up 48.67% to N4.46
- Jaiz Bank Plc: up 45.73% to N8.19
- Omatek Ventures Plc: up 38.28% to N1.77
- Red Star Express Plc: up 25.71% to N13.20
- UPDC Plc: up 24.00% to N6.20
- E-Transact International Plc: up 22.33% to N18.35
- Secure Electronic Technology Plc: up 21.35% to N1.08
- Multiverse Mining & Exploration Plc: up 20.73% to N28.25
Top losers
The week’s top decliners were:
- Ikeja Hotel Plc: down 12.38% to N35.05
- AustinLaz & Company Plc: down 9.20% to N3.75
- Eterna Plc: down 7.71% to N32.30
- Universal Insurance Plc: down 7.69% to N1.20
- Eunisell Interlinked Plc: down 7.57% to N156.95
- Lasaco Assurance Plc: down 6.72% to N2.50
- Cornerstone Insurance Plc: down 5.79% to N6.35
- Sunu Assurances Nigeria Plc: down 5.54% to N4.77
- Fidson Healthcare Plc: down 4.24% to N70.00
- Nascon Allied Industries Plc: down 4.17% to N115.00
Corporate actions overview
The week also saw notable corporate disclosures and developments:
- Eterna opened a rights issue to fund expansion.
- Universal Insurance seeks shareholder approval to raise N15 billion.
- NGX admitted 3.15 billion UBA shares from its rights issue.
- Vitafoam insider sold N33 million worth of shares.
- Nigerian Infrastructure Debt Fund released FY 2025 financials and announced N4.68 per unit distribution.
- AustinLaz CEO sold company shares worth N227.7 million.
- Geregu Power declared a N9 dividend for FY 2025.
What this means
- The strong performance of the Nigerian stock market this week highlights renewed investor confidence, driven by gains in mid-cap and large-cap stocks, especially in the Oil & Gas and Banking sectors.
- Despite the overall bullish trend, the market appears overbought, suggesting the potential for a short-term pullback. However, continued rallies in individual stocks could help sustain upward momentum.
- Investors are also keeping a close eye on corporate actions and fund distributions, such as the NIDF’s N4.68 per-unit payout, which reflects the appeal of income-generating assets.
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