The Nigerian Exchange delivered a strong start to 2026, gaining 6.27% in January as the All-Share Index rose by 9,757.4 points to close at 165,370.4.
This performance is a big step up from January 2025, when the index gained just 1.53%, showing stronger early-year momentum as market value climbed to N106.1 trillion.
Beyond price gains, trading activity improved, with over 15 billion shares exchanged versus 12 billion in January 2025, reflecting stronger investor participation.
The rally was driven by standout individual stocks, with the top 10 names posting gains of over 80%, highlighting the breadth of the market’s advance.
During the first three trading weeks of January, the market pushed the index above 166,000 for the first time ever, before a mild pullback in the final two weeks trimmed some gains.
Still, despite the late-month decline, returns among the top-performing stocks remained exceptional. Here are the top 10 stocks.
Morison Industries Plc occupied the ninth position on the list, delivering a 93.98% return to investors in January 2026.
The pharmaceutical stock opened the year at N5.15, with over 2 million shares traded during the month, and closed at N9.99 on the final trading day.
Price action was flat in the first two trading weeks, as the share price remained unchanged at N5.15.
However, momentum improved in the third week, leading to a strong rally that pushed the stock to N9.99.
The surge appears to reflect improving financial results, as the company reported a pre-tax profit of N54.4 million in 2025, rebounding from a N76.9 million loss in 2024 due to smoother operations.
Morison also completed a N400.2 million private placement and has 266.8 million ordinary shares listed on the Nigerian Exchange, a capital-raising move that may have further supported investor confidence.
The analysis above is quite impressive and mind blowing increase in the stock market industry.