Nigerian Exchange Dips 549 Points, Clings to 165,000 Level Amid Mixed Market Sentiment

On Wednesday, January 28, 2026, the Nigerian Exchange (NGX) ended trading in negative territory, shedding 549.4 points to settle at 165,164.4. This represented a 0.33% decline from Tuesday’s close of 165,713.8, as the market struggled to maintain its foothold above the 165,000 level. The early pullback reflects cautious investor sentiment heading into the week.

Trading activity, however, saw a notable uptick. Total volume climbed to 623 million shares, up from 483 million shares recorded the previous session, executed across 42,172 deals. Market capitalization slipped slightly to N105.7 trillion from N106 trillion, reflecting broad-based pressure on stock prices during the session.

Gains were concentrated among select counters, led by UHOMREIT and DEAPCAP, both climbing 9.97%. Conversely, selling pressure weighed heavily on RT Briscoe and May & Baker, which fell 9.97% and 9.96%, respectively. Neimeth topped trading by volume with 58.1 million shares, followed by CHAMS and Access Holdings, while Zenith Bank led by value with transactions worth N2.3 billion.

The performance of tier-one stocks was mixed. SWOOTs, representing firms with market capitalization above N1 trillion, leaned bearish, with International Breweries down 3.45% and MTN Nigeria shedding 1.38%. Meanwhile, FUGAZ banking stocks showed a blend of gains and losses, with GTCO and Access Holdings rising modestly, while First HoldCo and UBA recorded slight declines.

Analysts suggest the pullback signals short-term caution as traders await clearer guidance from mid- and large-cap equities. Despite rising trading activity in some names, the overall market momentum remains constrained, with sector-specific volatility likely shaping market direction in the coming days. Positive full-year 2025 earnings results could provide the catalyst needed to restore bullish sentiment.

source: nairametrics