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By Chukwuma Umeorah
Investors on the Nigerian Exchange (NGX) gained over N2 trillion in the first trading week of 2026 as renewed buying interest lifted share prices across the market and pushed key indices higher.
Market capitalisation rose by 2.09 per cent week on week to N99.94 trillion, while the NGX All-Share Index advanced by 1.92 per cent to close at 156,492.36 points, reflecting broad-based demand for equities at the start of the year. The performance extended the positive momentum from the close of 2025, leaving the market with a year-to-date (YtD) return of 0.57 per cent.
Trading activity strengthened significantly during the week, underscoring improved investor participation. A total of 7.82 billion shares valued at N134.47 billion were traded in 150,799 deals, compared with 2.88 billion shares worth N63.83 billion exchanged in the preceding week. The increase in turnover pointed to active portfolio rebalancing and fresh positioning in equities.
Market breadth remained firmly positive as 73 equities appreciated in price, against 23 decliners, while 51 stocks closed unchanged. The dominance of gainers suggested that the rally was broad-based rather than concentrated in a few counters.
All major sector indices closed higher during the week. The Insurance index led the gainers with a rise of 5.93 per cent, followed by the Consumer Goods index, which advanced by 3.44 per cent. The Banking index gained 2.96 per cent on increased demand for large-cap banking stocks, while the Oil and Gas index added 1.16 per cent. The Industrial Goods and Commodity indices recorded more moderate gains of 0.82 per cent and 0.41 per cent respectively.
Activity on the exchange was driven largely by financial services stocks, which accounted for about 76.6 per cent of total equity volume and 49.8 per cent of total value traded. Trading in Cornerstone Insurance Plc, Cham Holding Company Plc and Access Holdings Plc together represented about 68 per cent of total market volume, highlighting continued investor focus on financial sector equities.
On the gainers’ table, AUSTINLAZ & Company Plc gained 45.9 per cent, closing at N4.67 per share, followed by Aluminium Extrusion Industries Plc, which rose 45.6 per cent to N23.80, and Eunisell Interlinked Plc, which appreciated by 43.3 per cent to close at N126.00 per share. On the losing side, E-Tranzact International Plc declined by 9.9 per cent, while First HoldCo Plc and LivingTrust Mortgage Bank Plc fell by 7.9 per cent and 7.6 per cent respectively, largely due to profit-taking.
Cowry in their weekly report note that with full trading activity expected to resume in the coming weeks, “the early performance of equities suggests sustained investor interest in stocks with clear earnings outlooks and balance sheet strength, even as near-term volatility remains a risk.”
