Tag: Nigerian equities market

NGX Slips Marginally as Banking Stocks Dominate Trading, Market Breadth Stays Positive

The Nigerian equities market closed on a negative note, with the benchmark index declining by 10 basis points, bringing the year-to-date return to 62.10%.

Market activity weakened, as trading volume declined by 42.07% to 1.03 billion shares, while total value traded fell by 58.41% to ₦41.69 billion.

Despite the market’s weak performance, market breadth remained firmly positive, with 44 gainers against 34 decliners, reflecting resilient bullish sentiment across several counters.

On the sectoral front, the banking sector dominated trading activity for the third consecutive session this week, recording the highest volume and value of trades. Meanwhile, the insurance sector emerged as the top-performing sector, posting a strong daily gain of 0.46%. Although the oil and gas sector closed lower today, it continued to maintain the strongest year-to-date performance, delivering an impressive return of 125.24%.

On the performance chart, LEARNAFRCA and FIDSON led the gainers’ table, while ZICHIS topped the laggards’ list, followed by FTNCOCOA.

On the corporate front, several companies announced upcoming Annual General Meetings (AGMs).

Currency Market

Today, the naira depreciated against the dollar at the NAFEM window, with the USD/NGN pair advancing by 30 basis points to close at ₦1,375.00.

Meanwhile, Nigeria’s external reserves have continued to trend higher this week, edging up further to $48.51 billion, supported by increased offshore portfolio participation in the domestic market.

In the commodities market, Brent crude oil prices declined marginally by 0.9% to settle at $104.85 per barrel, as concerns over weakening global oil demand and slower economic activity outweighed persistent supply-side disruptions in the Middle East

May 14, 2026
Bulls rebound to close the week, market gained ₦3.24 trillion

…The Naira depreciated by 0.41% to close at ₦1361.40

The Nigerian equities market rebounded strongly from the previous session’s decline, as the benchmark NGX ASI advanced by 210bps to close at 244,775.83 points. The positive close was driven by renewed buying interest in bellwether stocks, particularly across the Industrial Goods and Banking sectors, as investors repositioned to strengthen portfolio holdings

The positive performance was buoyed by gains in DANGCEM, BUACEMENT, WAPCO, FIRSTHOLDCO, ETI, GTCO, CADBURY, NB, OANDO, ACCESSCORP, ZENITHBANK and 34 other advancing stocks.

As a result, the year-to-date return improved to 57.30%, while market capitalization appreciated by 2.10% to ₦157.09 trillion, leading to a ₦3.24 trillion addition to the local bourse.

Sectoral performance skewed largely positive as the Industrial Goods index surged 7.26%, driven by strong price appreciation in DANGCEM, BUACEMENT and WAPCO. The Banking index also advanced 3.35% on renewed buying interest in FIRSTHOLDCO, ETI, GTCO, FCMB, ACCESSCORP, ZENITHBANK, and FIDELITYBK. Meanwhile, the Consumer Goods and Oil/Gas indices gained 0.21% and 0.14% respectively, supported by rallies in CADBURY, NB and OANDO, despite mild declines in UACN, PZ and ETERNA. Conversely, the Insurance index dipped 0.37% as losses in DEAPCAP, WAPIC, VERITASKAP and ROYALEX outweighed gains recorded in SOVRENINS, PRESTIGE and AIICO.

MARKET ACTIVITY: Market activity was negative, with traded volume declining 41.73% to 1.07 billion units, while total value depreciated 23.74% to ₦55.04 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.45x from 1.40x, as 45 stocks appreciated, 31 depreciated, and 57 closed flat.

FIXED INCOME MARKET: Average yield of the Treasury Bills market appreciated to close at 17.60%, while the Bonds market closed flat at 15.77%.

CURRENCY MARKET: The Naira depreciated by 0.41% to close at ₦1361.40

May 8, 2026
NGX Declines 0.82% Amid Robust 55.42% YTD Return as Naira Appreciates and Eurobonds Extend Bullish Streak

The Nigerian equities market closed on a negative note, with the benchmark index declining by 0.82%. Despite this pullback, the year-to-date return remains robust at an impressive 55.42%, reflecting sustained market strength.

Market breadth improved significantly, closing firmly positive with 44 gainers against 26 decliners, underscoring a broadly bullish underlying sentiment despite the day’s loss.

The Industrial sector led the market with a strong daily gain of 2.49%, emerging as the top-performing sector.

On the performance chart, VITAFOAM and RTBRISCOE topped the gainers’ table, while GUINNESS led the losers, followed by UNIONDICON.

On the sectoral front, the Banking sector dominated trading activity, accounting for the highest volume and value of trades. However, the sector declined by 1.23% for the day.

On the corporate front, several companies announced upcoming Annual General Meetings. ELLAH LAKES released its Q1 2026 financial results, providing fresh insights into its earnings performance.

Fixed Income Market

Today, money market liquidity decreased by 78.73% to ₦1.18 trillion from ₦5.56 trillion. In contrast, the Overnight Rate down 11bps to 22.12%. Meanwhile, the NOFR and Open Repo Rate remained unchanged.

Elsewhere, the FGN bond market faced mild pressure, with the average yield rising 1bp to 16.09% from 16.08%. While sentiment in short-term maturities improved with a 5bps dip in yields, the mid-segment and long end stayed largely muted.

Trading activity improved in the NTB market, with average yields declining marginally by 1 bp to 17.48% (from 17.49%).

Nigeria’s Eurobond market extended its bullish streak, with average yields falling 2.5bps to 6.77% from 6.79%. However, sell pressure was seen at the short end of the curve, notably, the 2027 and 2029 maturities.

Currency Market

Today, the naira appreciated against the dollar, as the USD/NGN pair declined by 0.6%.

Meanwhile, Nigeria’s external reserves extended their downward trend, declining to $48.36 billion as of April 30.

In the commodities market, Brent crude prices dropped by 3.8% to settle at $110.31 per barrel. The decline was driven by profit-taking following Monday’s sharp rally, alongside confirmation from U.S. officials that the ceasefire with Iran remains in effect.

May 5, 2026
Bullish streak sustained, Investors gain ₦369.74 billion

The Nigerian equities market maintained its bullish streak in today’s session, as the All-Share Index advanced by 28 basis points to close at 203,161.81 points.

The market’s positive performance was supported by price appreciations in NGXGROUP, UBA, ZENITHBANK, HONYFLOUR, GTCO, WAPCO, ARADEL, FIRSTHOLDCO, alongside 22 other advancing stocks.

Consequently, the year-to-date return improved to 30.56%, while market capitalization advanced by 0.28% to ₦130.77 trillion, representing a ₦369.74 billion gain in investors’ wealth.

Sectoral performance closed positive, as all five tracked indices ended in the green. The Banking index advanced by 1.12%, driven by buying interest in UBA, ZENITHBANK, GTCO, and FIRSTHOLDCO. Similarly, the Insurance and Consumer Goods indices gained 0.67% and 0.44%, respectively, supported by price appreciations in INTENEGINS, GUINEAINS, REGALINS, UNIVINSURE, CORNERST, NESTLE, and HONYFLOUR. The Oil & Gas and Industrial Goods indices also rose by 0.43% and 0.18%, respectively, on the back of gains in ARADEL, ETERNA, CUTIX, andWAPCO.

MARKET ACTIVITY: Market activity was negative, as traded volume and value depreciated by 35.17% and1.84% to 652.86 million units and ₦39.82 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 0.97x from 0.69x as 30 stocks appreciated, 31 stocks depreciated, and 72 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bills Market closed bullish at 17.43%, while the Bonds Market closed flat at 15.60%.

CURRENCY MARKET: The Naira appreciated by 0.91% to close at ₦1,359.32

April 10, 2026
Stocks Close Week on Positive Note as NGX Gains ₦836.94 Billion

The Nigerian equities market ended the week on a positive note, with key performance indicators closing in the green despite a shortened trading window due to the Easter holidays declared by the Federal Government on April 3 and 6, 2026.

Trading for four sessions, the market rebounded from the previous week’s losses, buoyed by renewed investor interest in banking and consumer goods stocks. The benchmark NGX All-Share Index (ASI) appreciated by 0.39 per cent week-on-week to close at 201,698.89 points. Correspondingly, market capitalisation rose by ₦836.94 billion, representing a 0.65 per cent increase, to close at ₦129.81 trillion. Year-to-date, the ASI has posted a strong gain of 29.62 per cent, underscoring sustained investor confidence in the market.

Market performance during the week was further supported by fresh listings, including VFD Group’s 5.07 billion ordinary shares and FCMB Group’s 23.18 billion ordinary shares, which were admitted on April 2 and April 1, respectively. These additions contributed to overall market liquidity and activity.

Sectoral performance, however, presented a mixed outlook, with only two of the five major indices recording gains. A total of 29 equities appreciated in price during the week, led by Multiverse Mining and Exploration Plc, which gained 20.66 per cent. Other notable gainers included Unilever Nigeria Plc (+10.00%), Cadbury Nigeria Plc (+9.05%), NAHCO Plc (+8.85%), and MTN Nigeria Communications Plc (+5.85%).

On the flip side, 57 equities recorded price declines, reflecting profit-taking activities and cautious investor sentiment in some segments of the market. Leading the laggards were May & Baker Nigeria Plc (-16.57%), Nestlé Nigeria Plc (-10.00%), Skyway Aviation Handling Company Plc (-9.97%), Honeywell Flour Mills Plc (-6.98%), and Dangote Sugar Refinery Plc (-5.71%). The overall trend highlighted a divergence between strong-performing consumer and industrial stocks and declining heavyweight counters.

In terms of market activity, investors traded a total turnover of 2.86 billion shares valued at ₦113.60 billion in 215,287 deals during the week. This represents a decline compared to the previous week’s turnover of 3.95 billion shares worth ₦201.31 billion exchanged in 359,642 deals, reflecting the reduced number of trading days.

The Financial Services Industry maintained its dominance on the activity chart, accounting for 1.81 billion shares valued at ₦61.90 billion traded in 86,818 deals. This represents 63.41 per cent and 54.49 per cent of the total equity turnover volume and value, respectively. The Services Industry followed with 299.90 million shares worth ₦2.97 billion in 13,797 deals, while the ICT Industry ranked third, recording a turnover of 183.23 million shares valued at ₦14.65 billion in 25,287 deals.

Further analysis of trading patterns showed that the top three most traded equities by volume—Wema Bank Plc, Access Holdings Plc, and Secure Electronic Technology Plc—collectively accounted for 734.66 million shares worth ₦14.13 billion in 12,319 deals. This contributed 25.72 per cent and 12.44 per cent to the total equity turnover volume and value, respectively.

Overall market breadth weakened slightly compared to the previous week. A total of 29 equities recorded gains, down from 47 in the prior week, while 57 equities declined, higher than the 45 recorded previously. Meanwhile, 62 equities remained unchanged, compared to 56 in the preceding week.

Despite the mixed breadth, the week’s positive close reflects underlying resilience in the Nigerian capital market, supported by strategic sectoral gains, new listings, and sustained investor participation. Market analysts note that continued activity in key sectors, alongside macroeconomic developments, will shape investor sentiment in the weeks ahead.

April 7, 2026
Equities slip ahead of Easter, Investors lost ₦3.00 million

…The Naira depreciated by 0.15% to close at ₦1,380.79

Ahead of the Easter holiday, the Nigerian equities market closed the week on a quiet bearish note, as the All-Share Index slipped marginally by 0.2 basis points to settle at 201,698.89 points. The muted decline reflects a cautious trading session, with investors largely taking a wait-and-see stance as holiday mood dampened market activity and limited aggressive positioning.

The marginal decline was fuelled by NB, MBENEFIT, OANDO, FCMB, UBA, CHAMPION, ACCESSCORP and 17 other laggards.

Consequently, the year-to-date return was maintained at 29.62%, while market capitalization declined by 0.002% to ₦129.81 trillion, reflecting a ₦3.00 million loss of investors’ wealth.

Sectoral performance closed mixed. The Insurance index led the gainers, up 0.54%, buoyed by strong advances in FTGINSURE, SOVRENINS and PRESTIGE. Similarly, the Banking index rose 0.13%, supported by gains in JAIZBANK, GTCO, WEMABANK and FIDELITYBK. On the downside, the Consumer Goods index shed 0.41%, with losses in NB, INTBREW, HONYFLOUR and CHAMPION.

The Oil & Gas index dipped 0.10%, pressured by the decline in OANDO, while the Industrial Goods index closed flat at 0.00%, as gains in JBERGER and CUTIX offset the absence of significant directional movement across the broader segment.

MARKET ACTIVITY: Market activity was negative, as traded volume and value declined by 31.33% and 42.14% to 559.98 million units and ₦19.26 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.42x from 0.54x as 34 stocks appreciated, 24 stocks depreciated, and 73 stocks closed flat.

FIXED INCOME MARKET: The Fixed Income data was unavailable at the time of this report.

CURRENCY MARKET: The Naira depreciated by 0.15% to close at ₦1,380.79

April 2, 2026
Equities remain marginally bullish, Investors gained ₦20.63 billion

…The Naira appreciated by 0.20% to close at ₦1,383.88

The Nigerian equities market extended its bullish momentum for another session, as the All-Share Index edged up by 2 basis points to close at 200,957.89 points. Selective buying across key counters was sufficient to keep the index in the green, even as the pace of advance tempered from the prior session’s uptick.

The market remained positive on appreciations in REDSTAREX, MAYBAKER, NB, ZENITBANK, AIICO, GTCO, TRANSCORP, MTNN, FIRSTHOLDCO and 21 other advancers that lifted the overall market performance.

Consequently, the year to date return improved to 29.14%, as market capitalization appreciated by 0.02% to ₦129.00 trillion, representing a ₦20.63 billion addition of investors’ funds.

Sectoral performance closed negative, with just two indices posting greens. The Banking Index led the gainers, advancing 0.26%, driven by price appreciations in ZENITHBANK, GTCO, FIDELITYBK, and FIRSTHOLDCO. Similarly, the Consumer Goods

Index rose by 0.18%, suistained by MCNICHOLS, CHAMPION and NB. On the flip side, the Insurance Index had the steepest loss, down by 0.82% due to profit-taking in SUNUASSUR, VERITASKAP and CONHALLPLC. Also, the Industrial Goods and Oil & Gas Indices slipped by 0.21% and 0.16%, pressured by losses in CAVERTON, OMATEK, WAPCO, CUTIX, OANDO and JAPAULGOLD, respectively.

MARKET ACTIVITY: Market activity was positive, with traded volume and value appreciating by 26.05% and 30.54% to 678.13 million units and ₦33.14 billion, respectively.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.83x from 1.00x as 30 stocks appreciated, 36 stocks depreciated, and 66 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bill and Bond markets closed slightly bearish at 17.70% and 15.59%, respectively.

CURRENCY MARKET: The Naira appreciated by 0.20% to close at ₦1,383.88

March 26, 2026
Nigerian Stocks Rally as NGXASI Crosses 201,000 Points, Market Cap Hits ₦129.13 Trillion

The Nigerian Exchange (NGX) sustained its bullish momentum for the third consecutive week, closing in positive territory despite a shortened trading week due to the Eid-el-Fitr holidays on March 19 and 20.

The NGX All-Share Index (ASI) rose by 1.39% week-on-week to close at 201,156.86 points, while market capitalization increased by ₦1.77 trillion to ₦129.13 trillion. Year-to-date, the ASI has advanced 29.27%, underscoring strong investor confidence and resilience in market sentiment.

Sectoral performance was mixed, with two of five major indices posting gains. Industrial goods and banking stocks led the rally, with standout performances from BUA Cement Plc (+21.00%), Premier Paints Plc (+20.62%), Zenith Bank Plc (+14.64%), Guinness Nigeria Plc (+9.92%), and Ikeja Hotel Plc (+8.33%). Meanwhile, 43 equities declined, led by Presco Plc (-18.37%), Eterna Plc (-12.77%), and Red Star Express Plc (-9.98%), reflecting profit-taking in energy, consumer, and industrial sectors.

Market activity surged, with a total turnover of 8.761 billion shares worth ₦267.253 billion in 193,473 deals, compared to 3.321 billion shares valued at ₦164.845 billion in 318,907 deals the previous week. The ICT Industry dominated trading, accounting for 5.330 billion shares valued at ₦46.825 billion, representing 60.84% of total equity turnover volume. The Financial Services Industry followed with 2.765 billion shares worth ₦95.892 billion, while Consumer Goods recorded 174.484 million shares worth ₦20.805 billion.

Top traded equities included E-TRANZACT International Plc, FCMB Group Plc, and Wema Bank Plc, which together accounted for 6.084 billion shares worth ₦40.661 billion in 5,570 deals, contributing 69.44% of total turnover volume.

Overall, forty-eight equities appreciated in price, higher than thirty-four in the previous week. Forty-three equities declined, lower than sixty-one recorded last week, while fifty-seven remained unchanged, compared to fifty-three in the prior week.

The sustained rally highlights investor optimism and sectoral strength, positioning the Nigerian equities market for continued growth in 2026.

March 23, 2026
Profit-taking creeps in, Investors lost ₦900.44 billion

…The Naira dereciated by 0.71% to close at ₦1,353.90

The Nigerian equities market reversed the previous session’s gains, as profit-taking activities dragged the benchmark All-Share Index lower by 69 basis points to close at 201,156.85 points. The bearish close reflects investors’ decision to lock in recent gains, which outweighed pockets of buying interest across select counters and pressured overall market sentiment

The market was weighed down by profit taking in ARADEL, PRESCO, GTCO, NGXGROUP, UBA, ACCESSCORP, ZENITHBANK, NB, NAHCO and MTNN, alongside gains in 28 other laggards.

Consequently, the year to date return moderated to 29.27%, as market capitalization depreciated by 0.69% to ₦129.13 trillion, representing a ₦900.44 billion loss in investors’ funds.

Sectoral performance closed positive, with three of the five tracked indices ending in the green. The Consumer Goods Index led the gainers, advancing by 1.19%, supported by appreciations in GUINNESS, NESTLE, CADBURY, DANGSUGAR, and PZ. The Industrial Goods Index also gained 0.46%, buoyed by gains in WAPCO and BERGER, while the Insurance Index inched higher by 0.43%, driven by SOVRENINS, LINKASSURE, PRESTIGE and CUSTODIAN. On the downside, the Oil & Gas Index declined by 4.58%, pressured by sharp sell-offs in ARADEL and ETERNA. Similarly, the Banking Index shed 2.14%, dragged lower by profit-taking in GTCO, UBA, WEMABANK, ACCESSCORP, ZENITHBANK, and FIDELITYBK.

MARKET ACTIVITY: Market activity was positive today as both traded volume and value appreciated by 246.00% and 47.64% to 6.06 billion units and ₦130.06 billion, respectively.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.82x from 1.12x as 31 stocks appreciated, 38 stocks depreciated, and 63 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bill and Bond markets closed slightly bullish at 17.65% and 15.60%, respectively.

CURRENCY MARKET: The Naira depreciated by 0.71% to close at ₦1,353.90

March 18, 2026
Equities End February in Red, Investors lost ₦475.62 Billion

...The Naira depreciated by 0.26% to close at ₦1,363.40

The Nigerian equities market wrapped up the final trading session of the week and month on a negative footing, as the NGX All-Share Index (NGX ASI) declined by 38 basis points to close at 192,826.77 points, marking the fourth consecutive session of losses. The downturn was primarily driven by pronounced sell-offs in Industrial Goods and Oil & Gas counters, which weighed materially on the market.

The bearish close was fuelled by declines in MECURE, DANGCEM, UACN, ARADEL, TRANSCORP, FIRSTHOLDCO, GTCO, alongside 18 other laggards.

Consequently, the year to date return moderated to 23.91%, as market capitalization declined by 0.38% to ₦123.76 trillion, representing a ₦475.62 billion loss of investors’ wealth.

Sectoral performance was positive, with three of the five tracked indices closing higher. The Insurance Index led the gainers, rising by 1.52%, driven by strong advances in SOVRENINS, GUINEAINS, FTGINSURE, UNIVINSURE, and MANSARD. The Banking Index followed, up by 0.79%, supported by gains in UBA, ZENITHBANK, FCMB, ACCESSCORP, and WEMABANK. The Consumer Goods Index also edged higher by 0.25%, lifted by price appreciation in CADBURY, PZ, DANGSUGAR, and BUAFOODS.

On the downside, the Industrial Goods Index fell by 2.58%, weighed down by losses DANGCEM, while selling pressure in ARADEL dragged down the Oil & Gas index by 0.26%.

MARKET ACTIVITY: Market activity was mixed as traded volume depreciated by 5.15% to 823.83 million units. While traded value appreciated by 10.37% to ₦34.75 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.56x from 0.79x as 39 stocks appreciated, 25 stocks depreciated, and 67 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bill and Bond markets closed slightly bearish at 17.26% and 15.42%, respectively.

CURRENCY MARKET: The Naira depreciated by 0.26% to close at ₦1,363.40

February 27, 2026
Bulls maintain dominance, Investors gain ₦880.34 billion

…The Naira appreciated by 0.15% to close at ₦1,348.95

The domestic market ended today’s trading on a high, sustaining its bullish momentum for the eight consecutive session, as the benchmark NGX All-Share Index (ASI) advanced by 78 basis points to close at 178,184.35 points. The market closed high on the back of broadbased gains led by Banking and Insurance stocks.

The positive performance was propelled by bullish momentum such as NESTLE, GTCO, DANGSUGAR, UNILEVER, ZENITHBANK, UBA, NB, MTNN and 41 other gainers that contributed to the high closure.

As a result, the year-to-date return improved to 14.50%, while market capitalization appreciated by 0.78% to ₦114.38 trillion, translating to a ₦880.34 billion gain for investors.

Sectoral performance was majorly positive, with four of the five monitored indices closing high. The Banking index led the gainers, rising by 1.58%, due to sustained interest in GTCO, ZENITHBANK, UBA, FCMB and JAIZBANK. In same vain, the Insurance index added 1.53%, driven by FTGINSURE, NEM and VERITASKAP, while the Consumer Goods index added 1.28% on the back of gains in
TANTALIZER, UNIONDICON, PZ, DANGSUGAR, UNILEVER and NASCON.

Also, the Oil & Gas index edged higher by 0.02%, buoyed by JAPAULGOLD and OANDO. Meanwhile, the Industrial Goods (-0.02%) index was the sole loser, as a result of profit-taking in WAPCO and CUTIX.

MARKET ACTIVITY: Market activity was negative as traded volume and value depreciated by 27.92% and 32.51% to 939.15 million units and ₦34.03 billion, respectively.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 1.58x from 3.00x as 49 stocks appreciated, 31 stocks depreciated, and 53 stocks closed flat.

SYSTEM LIQUIDITY: System liquidity increased to (₦3.55 trillion) from (₦1.45 trllion) in the previous session.

FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bearish at 17.59%, while the Bond market closed flat at 15.99%.

CURRENCY MARKET: The Naira appreciated by 0.15% to close at ₦1,348.95

February 11, 2026
Bulls Still Charging, Investors gain ₦1.42 Trillion

…The Naira appreciated by 0.87% to close at ₦1,354.26

The Nigerian equities market rallied at the close of trading today to sustain its bullish momentum, as the benchmark All-Share Index (ASI) advanced by 129 basis points to close at 173,946.22 points. The market remained positive, driven by industrial goods and oil & gas stocks in undervalued positions attracting notable investor interest.

The bullish momentum was sustained by appreciations in MAYBAKER, CAP, DANGCEM, ARADEL, NB, NGXGROUP, WAPCO, UBA, ACCESSCORP, ZENITHBANK, FIRSTHOLDCO and 48 other gainers that contributed to the market performance.

As a result, the year-to-date return improved to 11.78%, while market capitalization appreciated by 1.29% to ₦111.66 trillion, translating to a ₦1.42 trillion gain for investors.

Sectoral performance was positive, with three of the five tracked indices closing high. The Industrial Goods index led the gainers, up 4.76%, due to increased interest in CAP, DANGCEM, BERGER and WAPCO. In tandem, the Oil & Gas index gained 1.29%, driven by renewed interest in ETERNA, ARADEL and OANDO, while the Consumer Goods index added 0.74% on the back of appreciations in HONYFLOUR, PZ, NB, INTBREW, and DANGSUGAR. Meanwhile, the Banking (-0.04%) and Insurance (-0.03%) indices lost grounds, weighed down by losses in ETI, JAIZBANK, FIDELITYBK, WEMABANK, GTCO, AIICO, PRESTIGE, SOVRENINS and VERITASKAP, respectively.

MARKET ACTIVITY: Market activity was negative as traded volume and value depreciated by 18.72% and 35.21% to 775.18 million units and ₦27.92 billion, respectively.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 2.27x from 3.16x as 59 stocks appreciated, 26 stocks depreciated, and 48 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bearish at 17.61%, while the Bond market closed flat at 16.13%.

CURRENCY MARKET: The Naira appreciated by 0.87% to close at ₦1,354.26

February 9, 2026
Equities open marginally bullish, Investors gain ₦9.12 billion

…The Naira depreciated by 0.27% to close at ₦1,386.55

The Nigerian equities market opened the month of February on a quiet note, with the NGX All-Share Index (ASI) recording a marginal increase of 1bp to close at 165,384.63 points. Trading activity was subdued as investors adopted a cautious start to the month.

The market closed slightly bullish due to gains in JBERGER,STANBIC, ARADEL, FCMB, ZENITHBANK and 24 other gainers.

As a result, the year-to-date return moderated to 6.28%, while market capitalization appreciated by 0.01% to ₦106.16 trillion, translating to a ₦9.12 billion gain for inv estors.

Sectoral performance closed largely negative, as four of the five tracked indices ended the session in the red, with only one recording gains. The Insurance index posted the steepest decline, shedding 1.99%, pressured by continued selloffs in MANSARD, GUINEAINS, REGALINS, WAPIC, and AIICO.

Similarly, the Banking, Consumer Goods, and Industrial indices closed lower, weighed down by losses in FIRSTHOLDCO, ETI, FIDELITYBK, ACCESSCORP, GTCO, CHAMPION, HONYFLOUR, CADBURY, INTBREW, CAVERTON, and BETAGLAS. In contrast, the Oil and Gas index edged up by 2.00%, supported by price appreciation in ARADEL.

MARKET ACTIVITY: Market activity was positive as traded volume and traded value appreciated by 10.96% and 22.86% to 762.75 million units and ₦18.41 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.66x from 1.05x as 29 stocks appreciated, 44 stocks depreciated, and 56 stocks closed flat.

FIXED INCOME MARKET: The average yield of both the Treasury Bill and Bond market closed bullish at 18.32% and 16.29%.

OFFICIAL WINDOW: The Naira depreciated by 0.27% to close at ₦1,390.36

February 2, 2026
Equities close in negative territory, Investors lost ₦557.11 billion

…The Naira depreciated by 0.10% to close at ₦1,422.07

The local bourse recorded modest losses, and closed today’s trading session weaker as the benchmark NGX All-Share Index (ASI) shed 52 basis points to close at 165,397.37 points. The decline reflected broad-based profit-taking activities across major sectors in the market.

The market lost earlier gains as sentiments softened in NEM, WAPCO, NASCON, ETERNA, ACCESSCORP, NB, ZENITHBANK, TRANSCORP, OANDO, DANGSUGAR, UBA and 28 other laggards.

As a result, the year-to-date return moderated to 6.29%, while market capitalization declined by 0.52% to ₦105.89 trillion, translating to a ₦557.11 billion loss in investors’ wealth.

Sectoral performance closed broadly negative, as all five tracked indices ended the session in the red. The Insurance Index recorded the steepest loss, declining by 1.35%, pressured by INTENEGINS, NEM, and LINKASSURE. The Consumer Goods Index also edged lower by 1.31%, due to depreciations in INTBREW, NASCON, NB and DANGSUGAR. In similar fashion, the Banking Index recorded 0.95% loss, amid sustained profit-taking in ACCESSCORP, ZENITHBANK and UBA. While the Industrial Goods and Oil & Gas indices weakened by 0.71% and 0.15%, respectively, as losses in WAPCO, CUTIX, ETERNA and OANDO weighed on overall sectoral performance.

MARKET ACTIVITY: Market activity was also negative, as traded volume and value depreciated by 6.62% and 15.01% to 768.26 million units and ₦21.19 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.95x from 2.25x as 37 stocks appreciated, 39 stocks depreciated, and 55 stocks closed flat.

FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bullish at 18.55%, while the Bond market closed flat at 16.75%.

OFFICIAL WINDOW: The Naira depreciated by 0.10% to close at ₦1,422.07

January 22, 2026
Bulls maintain grip, Investors gain ₦6.88 billion

…The Naira depreciated by 0.09% to close at ₦1,420.69

The Nigerian equities market gained a marginal uptick for the second consecutive session, as the benchmark NGX All-Share Index advanced by 1 basis point to close at 166,267.60. The sustained market performance improved on investors interest in fundamentaly sound blue-chip stocks amidst global market uncertainties.

The market gained grounds on the back of appreciaitons in MAYBAKER, CWG, IKEJAHOTEL, ZICHIS, JBERGER, FIDSON, VITAFOAM, STANBIC, WAPCO, DANGSUGAR, ACCESSCORP and 43 other gainers.

As a result, the year-to-date return improved to 6.85%, while market capitalization adv anced by 0.01% to ₦106.44 trillion, translating to a ₦6.88 billion gain of inv estors’ wealth.

Sectoral performance was negative, as three of the five tracked indices closed low, while two closed high. The Industrial Goods Index led the gainers, up by 0.09%, as a result of renewed interest in JBERGER, CAVERTON and WAPCO. In tandem, the Consumer Goods index gained 0.03% driven by appreciatons in HONYFLOUR, UNIONDICON, VITAFOAM, PZ and DANGSUGAR.

On the flip side, Insurance Index declined by 1.01%, due to profit- taking in WAPIC, MANSARD, PRESTIGE and UNIVINSURE. Also, the Oil & Gas and Banking indices lost 0.94% and 0.27%, respectively, weighed down by declines in OANDO, JAPAULGOLD, ARADEL, ETI, UBA, WEMABANK and GTCO respectively.

MARKET ACTIVITY: Market activity was positive, as traded volume and value appreciated by 3.43% and 24.81% to 822.74 million units and ₦24.93 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 2.25x from 1.56x as 54 stocks appreciated, 24 stocks depreciated, and 52 stocks closed flat.

FIXED INCOME MARKET:

The average yield of the Treasury Bill market closed flat at 18.33%, while the Bond market closed slightly bullish at 16.75%.

OFFICIAL WINDOW: The Naira depreciated by 0.09% to close at ₦1,420.69

January 21, 2026