The market opened for four trading days this week as the Federal Government declared Thursday January 1, 2026, as Public Holiday to commemorate the New Year Celebration. The Nigerian equities market opened the 2026 trading year on a positive note, maintaining its bullish run for the fifth consecutive week. This performance builds on the strong rally seen in 2025, when the market recorded a full-year return of 51.19%, well above the 37.65% achieved in 2024. Over the week, the NGX All-Share Index (ASI) gained 1.92% to settle at 156,492.36 points, up from 153,539.83 points in the preceding week. Correspondingly, total market capitalization expanded by 2.09% week-on-week to ₦99.94 trillion, compared with ₦97.89 trillion previously.
Sectoral performance was broadly positive during the week, as all five major sectors closed in the green. Overall market breadth was strong, with 73 stocks recording price appreciation. Leading the gainers were EUNISELL (+51.81%), ALEX (+45.57%), HONYFLOUR (+29.58%), FIDSON (+25.28%) and IKEJAHOTEL (+21.52%). Other notable advances were seen in ACCESSCORP, TRANSCORP, ETI, CUSTODIAN, BUAFOODS, ARADEL, OANDO, STANBIC, GTCO, UBA and ZENITHBANK. On the downside, 23 equities closed lower, led by FIRSTHOLDCO (-7.92%), CAP (-6.76%), Nigerian Breweries (-5.73%), PZ (-4.46%) and SEPLAT (-3.43%), while losses in VITAFOAM, NAHCO and CADBURY were relatively modest.
Meanwhile, a total turnover of 7.82 billion shares worth ₦134.47 billion in 150,799 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.88 billion shares valued at ₦63.83 billion that exchanged hands last week in 80,229 deals. The Financial Services Industry (measured by volume) led the activity chart with 5.99 billion shares valued at ₦67.02 billion traded in 55,598 deals; thus contributing 76.61% and 49.84% to the total equity turnover volume and value respectively. The ICT Industry followed with 946.96 million shares worth ₦8.03 billion in 15,443 deals. Third place was the Consumer Goods Industry, with a turnover of 258.82 million shares worth ₦9.38 billion in 24,133 deals.
Trading in the top three equities, namely CORNERSTONE INSURANCE PLC, CHAM HOLDING COMPANY PLC and ACCESS HOLDINGS PLC (measured by volume), accounted for 5.32 billion shares worth ₦37.36 billion in 10,441 deals, contributing 67.97% and 27.78% to the total equity turnover volume and value respectively.
Overall, seventy-three (73) equities appreciated in price during the week, higher than forty-four (44) equities in the previous week. Twenty-three (23) equities depreciated in price, lower than thirty (30) equities in the previous week, while fifty-one (51) equities remained unchanged, lower than seventy-three (73) recorded in the previous week.
Outlook:
We expect investors to trade cautiously, focusing on fundamentally strong stocks with attractive valuations.
