The Nigerian equities market extended its bullish momentum in the second trading week of 2026, as renewed investor confidence helped reverse weeks of heightened profit-taking.
The NGX All-Share Index closed the week at 162,298.08 points, recording a week-on-week gain of 3.71%, a clear signal of improving market sentiment and sustained buying interest across key sectors.
This positive performance translated into a ₦3.84 trillion increase in market capitalization, which expanded by 3.84% to ₦103.78 trillion, up from ₦99.94 trillion in the previous week. As a result, the market’s year-to-date return advanced to 4.43%.
Market breadth reflected a decisively positive tone, with 84 gainers against 22 losers, translating to a strong breadth ratio of 3.82x. Trading activity showed mixed trends: total deals surged by 64.29%, pointing to heightened participation, while trading volume and value declined by 30.55% and 47.02%, respectively.
By the close of the week, 4.13 billion shares worth ₦93.24 billion had changed hands across 162,298 deals, suggesting active but selective positioning by investors.
Sector Performance
Sectoral indices largely mirrored the market’s upbeat mood. The Insurance sector led the rally, advancing 6.82%week-on-week. This was followed by gains in Industrial Goods (+4.74%), Oil and Gas (+4.70%), and Commodities (+4.58%).
The Banking and Consumer Goods sectors also closed higher, posting gains of 3.07% and 2.76%, respectively, reflecting broad-based participation in the rally.
Top Gainers and Losers
At the stock level, MULTIVERSE topped the gainers’ chart with a sharp 59.7% appreciation. Other notable gainers included MCNICHOLS (+53.2%), MAYBAKER (+51.6%), DEAPCAP (+43.5%), and NEIMETH (+43.5%), driven largely by strong accumulation interest.
On the flip side, ALEX (-19.7%), AUSTINLAZ (-11.6%), SOVRENINS (-11.3%), IKEJAHOTEL (-10.9%), and JULI (-9.9%) recorded the steepest declines, reflecting sustained selling pressure in those counters.
Market Outlook
Looking ahead, the equities market is expected to remain cautiously positive, supported by improving sentiment and selective accumulation in fundamentally strong stocks. While mild profit-taking may persist, market direction will largely hinge on earnings releases, dividend expectations, and macroeconomic signals.
Overall, trading activity is likely to remain value-driven, with investors positioning strategically across key sectors.
Joshua Chinonye ✔
Joshua Chinonye is the Energy Editor at Naija247news, covering Nigeria’s oil, gas, and power sectors. He reports on energy policy, market trends, and sustainability with a focus on informing public discourse and decision-makers.
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