The Nigerian equities market ended its seven-week rally, closing the week in negative territory as sustained profit-taking in the consumer goods and banking sectors weighed on overall market performance. Consequently, the NGX All-Share Index (ASI) declined by 0.37% week-on-week to close at 165,512.18 points, compared to 166,129.50 points recorded in the previous week. In tandem, market capitalization dipped by 0.37% to ₦105.96 trillion from ₦106.35 trillion.
In corporate developments, ZICHIS AGRO-ALLIED INDUSTRIES PLC was admitted to trading on the Nigerian Exchange Limited during the week. The company listed 600 million ordinary shares of 50 kobo each at a price of ₦1.81 per share on the Standard Segment of the Growth Board on Tuesday, January 20, 2026.
Sector performance was negative, with four of the five major sectoral indices closing lower amid broad-based selloffs. Despite the overall weakness, market breadth remained positive as 58 equities recorded price appreciation, led by strong gains in SCOA (+59.73%), NCR (+46.36%), UHOMREIT (+37.61%), MAY & BAKER (+31.82%) and CWG (+24.62%). Conversely, 40 equities closed in the red, pressured by declines in ETERNA (-11.92%), INTBREW (-9.95%), NB (-7.78%), TRANSCORP (-7.24%) and FIRSTHOLDCO (-5.77%), reflecting sustained sell pressure in large-capitalization stocks.
A total turnover of 3.75 billion shares worth ₦99.87 billion in 237,179 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 4.61 billion shares valued at ₦130.64 billion that exchanged hands last week in 263,439 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.74 billion shares valued at ₦44.89 billion traded in 90,589 deals; thus contributing 46.49% and 44.95% to the total equity turnover volume and value respectively. The Services Industry followed with 707.62 million shares worth ₦4.38 billion in 18,322 deals. Third place was the ICT Industry, with a turnover of 303.22 million shares worth 5.93 billion in 24,107 deals.
Trading in the top three equities, namely SECURE ELECTRONIC TECHNOLOGY PLC, TANTALIZERS PLC, ACCESS HOLDINGS PLC (measured by volume), accounted for 734.09 million shares worth N5.72 billion in 15,726 deals, contributing 19.59% and 5.73% to the total equity turnover volume and value respectively.
Overall, fifty-eight (58) equities appreciated in price during the week, lower than eighty (80) equities in the previous week. Forty (40) equities depreciated in price, higher than seventeen (17) equities in the previous week, while fifty (50) equities remained unchanged, same as fifty (50) recorded in the previous week.
