Strong trading volume and broad-based gains lift market value to ₦104.5 trillion
Nigeria’s equities market closed trading on a positive note on Monday, January 12, 2026, with the All-Share Index (ASI) advancing 946.6 points to settle at 163,244.7, firmly breaking above the 163,000 mark.
The rally was supported by a sharp increase in trading activity, as 1.14 billion shares were exchanged, compared with 624 million shares in the previous session, signalling stronger investor participation.
Market capitalisation rose to ₦104.5 trillion, up from ₦103.7 trillion recorded at the end of last week, with a total of 59,359 transactions executed during the session.
Market performance snapshot
The ASI gained 0.58 per cent, lifting the market’s year-to-date return to 4.90 per cent, underscoring sustained investor confidence at the start of 2026.
Stocks posting the strongest gains included Deap Capital Management, Etranzact, UPDC, McNichols, RT Briscoe, and Red Star Express, all of which closed at the 10 per cent daily limit.
On the losing side, Champion Breweries and Eunisell led the decliners, shedding 8.51 per cent and 8.01 per cent, respectively.
Most active stocks
In terms of volume, Sovereign Trust Insurance led the market with 307.4 million shares traded, followed by Fidelity Bank at 158.3 million shares and LinkAssure with 118.7 million shares.
Mutual Benefits Assurance and Lasaco rounded out the top five by volume, trading 31.4 million and 31 million shares, respectively.
By value of trades, Fidelity Bank topped the chart with transactions worth ₦3.1 billion, followed by Aradel at ₦1.4 billion, Zenith Bank at ₦1.1 billion, Eunisell at ₦1.05 billion, and Sovereign Trust Insurance at ₦1 billion.
Top gainers
- ETRANZACT — up 10.00% to ₦16.50
- REDSTAREX — up 10.00% to ₦11.55
- MCHNICHOLS — up 10.00% to ₦6.05
- UPDC — up 10.00% to ₦5.50
- RTBRISCOE — up 10.00% to ₦3.96
Top losers
- CHAMPION — down 8.51% to ₦15.05
- EUNISELL — down 8.01% to ₦156.20
- IKEJAHOTEL — down 8.00% to ₦36.80
- GUINEANS — down 7.30% to ₦1.27
- OMATEK — down 3.12% to ₦1.24
SWOOTs and banking stocks
Stocks with market capitalisation above ₦1 trillion (SWOOTs) recorded a largely positive session. Lafarge Africa climbed 6 per cent, Nigerian Breweries added 4 per cent, Aradel rose 3.73 per cent, while International Breweries gained 0.68 per cent.
Stanbic IBTC was the only major laggard, easing 0.09 per cent.
Among the FUGAZ banking stocks, First Holdco advanced 5.21 per cent, Access Holdings gained 1.55 per cent, and GTCO rose 0.25 per cent, while UBA and Zenith Bank closed unchanged.
Why it matters
The ASI’s ability to hold above 163,000 points signals continued confidence in Nigerian equities early in the year. Strong performances across both mid- and large-cap stocks suggest a market driven more by sustained buying interest than short-term speculation.
Market outlook
With the index closing comfortably above a key psychological level, bullish momentum remains intact. If buying interest stays broad-based, the market could extend its upward move in the near term. However, analysts caution that overbought conditions may trigger a short-term pullback.
