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.
Mchnichols Plc ranked eighth on the list, delivering a 94.19% return to investors in January 2026.
The stock opened the month at N3.27 and rose to N6.35 by the final trading day, with more than 148 million shares changing hands during the period.
Although the stock closed four of the five trading weeks in positive territory, most of the gains were recorded in the second week, when the share price jumped by over 53%.
The rally may be linked to the company’s full-year performance.
Mchnichols posted a pre-tax profit of N387.2 million in 2025, up from N151.7 million in 2024, supported by revenue growth to N6.2 billion.
The consumer goods company also strengthened its balance sheet, with total assets rising to N1.9 billion from N1.3 billion.
The analysis above is quite impressive and mind blowing increase in the stock market industry.