NGX Adds ₦468bn As New Year Rally Continues

The Nigerian Exchange (NGX) maintained its upward momentum on Tuesday, as continued buying activity across key stocks lifted total market capitalisation by about ₦468 billion, keeping investor optimism high and sustaining the market above the ₦100 trillion mark.

At the close of trading, total equities market capitalisation rose to ₦102.28 trillion from ₦101.81 trillion in the previous session, representing a 0.46 per cent gain in market value within a single trading day. The rise reflects persistent bullish sentiment following a strong start to the 2026 trading year.

The All-Share Index climbed 0.46 per cent, adding 732.86 points to finish at 159,951.08 points, up from 159,218.22 points on Monday. This pushed the market’s year-to-date return to 2.79 per cent, signalling a firm start to the year as investors repositioned their portfolios.

Market activity improved notably, with a total of 758.93 million shares traded in 54,199 deals valued at ₦19.83 billion. Compared with the previous session, trading volume rose by 9 per cent and turnover increased by 7 per cent, despite a 4 per cent drop in the number of deals executed. The higher volume and value indicate stronger investor participation, particularly in actively traded stocks, even as trades were concentrated in fewer but larger transactions.

In total, 130 listed equities were active during the session. Market breadth closed positive, with 65 gainers against 21 losers, reflecting broad investor participation and an overall upbeat market sentiment.

Meyer Plc led the gainers’ board, rising the maximum 10 per cent to close at ₦14.30 per share, followed by Jaiz Bank Plc, also up 10 per cent, and Associated Bus Company Plc, which gained 9.98 per cent. Multiverse Mining and Exploration Plc advanced 9.94 per cent. On the downside, Aluminium Extrusion Industries Plc posted the steepest loss, falling 9.96 per cent to close at ₦21.70 per share. Learn Africa Plc dropped 9.16 per cent, Oando Plc shed 7.69 per cent, and United Bank for Africa Plc lost 6.22 per cent.

By trading volume, Linkage Assurance Plc led with 51.6 million shares, followed by Sterling Bank Plc with 49.1 million shares. Access Holdings Plc and Mutual Benefits Assurance Plc recorded 48.7 million and 34.7 million shares, respectively.

Market performance was largely driven by heavyweight stocks, including MTN Nigeria Communications Plc, Access Holdings Plc, Guaranty Trust Holding Company Plc, Zenith Bank Plc, and United Bank for Africa Plc, which together contributed significantly to turnover and index movement.

Overall, the equities market closed the session firmly bullish, extending the early-year rally and maintaining market capitalisation above ₦100 trillion. Analysts attribute the gains to renewed investor confidence, selective bargain hunting, and positioning ahead of anticipated corporate earnings and macroeconomic developments.

On the commodities front, Brent crude oil closed at $61.82 per barrel, while gold traded at $4,418.82 per ounce, providing additional context for global market sentiment.

With total market capitalisation at ₦102.28 trillion and trading activity strengthening, the NGX appears poised to sustain its positive momentum in the early stages of 2026, barring any unexpected macroeconomic or policy shocks.