The Nigerian Exchange (NGX) extended its early-year momentum on Tuesday, with total market capitalisation climbing by N468 billion. Sustained buying in major stocks reinforced investor optimism, keeping the market comfortably above the N100 trillion mark. Analysts say this strong start signals renewed confidence as investors position portfolios for 2026.
Total equities market capitalisation rose to N102.28 trillion, up from N101.81 trillion recorded in the previous session, marking a 0.46 per cent gain in a single trading day. The All-Share Index mirrored this trend, adding 732.86 points to close at 159,951.08 points, while the market’s year-to-date return reached 2.79 per cent, reflecting a firm opening to the year.
Market activity was notably stronger, with 758.93 million shares traded across 54,199 deals valued at N19.83 billion. Trading volume increased by nine per cent and turnover rose by seven per cent, showing investors’ preference for larger, concentrated trades in actively traded stocks. Overall, 130 listed equities participated, with 65 gainers outpacing 21 losers, indicating broad-based positive sentiment.
Leading the gainers were Meyer Plc and Jaiz Bank Plc, each rising 10 per cent, while Associated Bus Company and Multiverse Mining advanced by nearly 10 per cent. On the losing side, Aluminium Extrusion Industries and Learn Africa Plc posted declines of 9.96 per cent and 9.16 per cent, respectively. Trading by volume was dominated by Linkage Assurance, Sterling Bank, and Access Holdings.
Market observers note that gains were driven by heavyweight stocks including MTN Nigeria, Guaranty Trust Holding Company, Zenith Bank, and United Bank for Africa, which together accounted for a significant share of turnover. With Brent crude at $61.82 per barrel and gold at $4,418.82 per ounce, global market conditions also provided supportive context. Analysts suggest the NGX is set to sustain its New Year rally, barring any unexpected economic or policy shocks.
source: punch