Nigerian Stock Market Surges N2.6 Trillion as Positive Momentum Continues in 2026
The Nigerian stock market continued its strong performance in the second week of 2026, adding N2.6 trillion to its total market capitalization as investor confidence surged. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose by 2.36% week-on-week, closing at 166,129.50 points, signaling a robust start to the year for local equities.
Market breadth remained positive, with 80 advancing stocks significantly outnumbering 17 decliners. Leading the gainers was NCR Nigeria, which surged 60.79% to close at N128.55 per share. SCOA Nigeria followed with a 59.36% increase to N14.90, while DEAP Capital Management & Trust gained 48.67%, closing at N4.46 per share. On the other hand, Ikeja Hotel led the decliners with a 12.38% drop, followed by Austin Laz & Company at 9.20%, and Eterna at 7.71%.
Trading activity reflected heightened investor engagement, with a total turnover of 4.607 billion shares worth N130.636 billion across 263,439 deals. The Financial Services sector dominated, accounting for 67.84% of traded volume and 36.15% of value. Other active sectors included Services and ICT, while top equities such as Sovereign Trust Insurance, Access Holdings, and Linkage Assurance contributed significantly to overall trading volumes.
Looking ahead, optimism is building around the upcoming listing of Zichis Agro Allied Industries Plc on the NGX Growth Board. The company plans to list 1.1 billion shares, which is expected to increase market capitalization by N1.96 billion. Zichis Agro’s diversified operations in livestock, poultry, and palm oil production are poised to attract investor attention and drive further market activity.
Market analysts remain bullish on near-term prospects. Cowry Assets Management Limited noted that broad-based gains across major sectors point to healthy market participation and continued accumulation of strong equities. Afrinvest Limited also highlighted that strategic portfolio positioning at the start of the year and the upcoming Zichis Agro listing are likely to sustain the bullish momentum in Nigerian equities.
source: This day