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By Chukwuma Umeorah
Investor participation on the Nigerian Exchange (NGX) strengthened in the week ended January 16, 2026, as trading volumes on the equities market rose by 11.7 per cent week-on-week, signalling sustained buying interest and improving market liquidity. A total of 4.607 billion shares valued at N130.64 billion were traded in 263,439 deals, compared with 4.164 billion shares worth N94.03 billion exchanged in 248,254 deals in the preceding week. The sharp rise in traded value, which expanded by over 40 per cent, underscored renewed positioning by investors across a wide range of stocks.
Trading activity during the week was heavily driven by financial services stocks, which continued to dominate market turnover. The Financial Services sector accounted for 3.13 billion shares valued at N47.23 billion in 94,186 deals, representing about 67.8 per cent of total traded volume and 36.1 per cent of market value. The Services industry followed, with 353.44 million shares worth N5.10 billion traded, while the ICT industry recorded 277.26 million shares valued at N18.01 billion.
The stronger activity supported a broad market advance, with the NGX All-Share Index rising by 2.36 per cent to close at 166,129.50 points. Market capitalisation appreciated by 2.48 per cent to N106.35 trillion from N103.78 trillion in the previous week, translating into a gain of about N2.58 trillion. The weekly performance lifted the market’s year-to-date return to 6.76 per cent.
Market breadth remained firmly positive, reflecting widespread participation in the rally. 80 equities appreciated in price during the week, while 17 declined and 50 closed flat. Sectoral indices largely tracked the upbeat mood. The NGX Oil and Gas Index emerged as the strongest performer, rising by 5.71 per cent on the back of renewed interest in petroleum marketing and energy-related stocks. The NGX Banking Index followed with a weekly gain of 3.45 per cent, supported by sustained accumulation in tier-one and mid-tier banking names. The NGX Commodity Index advanced by 2.98 per cent, while the NGX Insurance Index rose by 1.78 per cent. Consumer Goods and Industrial Goods indices also closed higher, gaining 1.59 per cent and 0.67 per cent respectively.
The NGX Premium Index, which tracks large-capitalisation stocks with strong corporate governance credentials, climbed by 4.13 per cent, while the NGX 30 Index added 2.26 per cent. The NGX Main Board Index rose by 1.15 per cent, suggesting that both blue-chip and non-blue-chip equities participated in the market’s upward movement. The only index that closed marginally lower was the NGX Africa Dividend Yield Index, which slipped by 0.15 per cent.
Trading in Sovereign Trust Insurance Plc, Access Holdings Plc and Linkage Assurance jointly accounted for 1.406 billion shares valued at N9.74 billion in 11,732 deals, contributing more than 30 per cent of total market volume, highlighting the continued concentration of activity in selected banking and insurance counters.
At the stock level, price movements were pronounced, particularly among low-priced and mid-cap equities, where speculative and accumulation interest remained strong. NCR Nigeria Plc topped the gainers’ chart after appreciating by 60.8 per cent to close at N128.55 per share, from N79.95 in the previous week. SCOA Nigeria Plc followed closely, rising by 59.4 per cent to close at N14.90 per share. Deap Capital Management and Trust Plc gained 48.7 per cent to close at N4.46 per share, while Jaiz Bank Plc advanced by 45.7 per cent to N8.19 per share, reflecting sustained demand for banking stocks.
Omatek Ventures Plc added 38.3 per cent to close at N1.77 per share. Red Star Express Plc rose by 25.7 per cent to N13.20 per share, while UPDC Plc gained 24.0 per cent to close at N6.20 per share. E-Tranzact International Plc appreciated by 22.3 per cent to N18.35 per share. Secure Electronic Technology Plc advanced by 21.3 per cent to N1.08 per share, and Multiverse Mining and Exploration Plc closed 20.7 per cent higher at N28.25 per share.
On the losing side, Ikeja Hotel Plc led the decliners after shedding 12.4 per cent to close at N35.05 per share, down from N40.00. Austin Laz & Company Plc dropped by 9.2 per cent to N3.75 per share, while Eterna Plc declined by 7.7 per cent to N32.30 per share amid continued adjustments following its ongoing rights issue. Universal Insurance Plc fell by 7.7 per cent to close at N1.20 per share, and Eunisell Interlinked Plc lost 7.6 per cent to close at N156.95 per share. Lasaco Assurance Plc, Cornerstone Insurance Plc, Sunu Assurances Nigeria Plc, Fidson Healthcare Plc and Nascon Allied Industries Plc also closed lower, reflecting pockets of profit-taking across the market.
Daily trading data showed fluctuating but generally elevated participation throughout the week.
Trading volumes peaked on Monday and Thursday, while values were strongest on Tuesday and Thursday, indicating active repositioning by investors across different sessions.
During the week under review, United Bank for Africa Plc listed an additional 3.16 billion ordinary shares on the Exchange following the completion of its rights issue. The additional shares increased the bank’s total issued and fully paid-up share capital from 41.04 billion to 44.20 billion ordinary shares, expanding its free float and market representation. Morison Industries Plc also listed 266.84 million additional ordinary shares issued through its private placement, raising its total issued shares to 1.26 billion.
