Lagos, Jan. 9, 2026 (NAN) The Nigerian stock market sustained its upward momentum on Thursday, gaining ₦953 billion in market capitalisation as investor confidence remained strong.
Market sentiment was driven by price appreciation in Industrial and Medical Gases, McNicholas, SCOA Nigeria, May & Baker, FTN Cocoa Processors, and 43 other equities.
The market capitalisation rose 0.93 per cent, opening at ₦102.822 trillion and closing higher at ₦103.775 trillion, adding ₦953 billion to investors’ portfolios.
The All-Share Index (ASI) mirrored the gains, advancing 1,491.52 points to close at 162,298.08 from 160,806.56 on Wednesday, reflecting broad-based buying interest.
Market breadth closed positive with 48 gainers against 28 losers. Industrial and Medical Gases, SCOA Nigeria, and McNicholas led the gainers, each rising 10 per cent to close at ₦35.20, ₦9.35, and ₦5.50 respectively. May & Baker gained 9.92 per cent to settle at ₦28.80, while FTN Cocoa Processors rose 9.90 per cent to close at ₦6.66 per share.
On the downside, Aluminium Extrusion Industries led the losers, declining 9.91 per cent to ₦19.10, followed by Austinlaz (-9.83% to ₦4.13), Sovereign Trust Insurance (-9.63% to ₦3.38), Prestige Assurance (-9.57% to ₦1.70), and UPDC (-9.09% to ₦5.00).
Trading activity recorded 624.1 million shares valued at ₦18.5 billion exchanged in 43,816 deals, compared with 645.1 million shares worth ₦16.4 billion previously.
An analyst noted that the rally was underpinned by “renewed bargain hunting and sustained optimism over corporate earnings prospects”, highlighting the resilience and growing sophistication of the Nigerian capital market.
Ifeoluwa Okonkwo ✔
Ifeoluwa Okonkwo is a dedicated News Content Editor at Naija247news, bringing over five years of experience in news writing and editorial work. A graduate of the University of Abia State, Ifeoluwa specializes in curating and refining impactful news stories that resonate with readers. Her expertise lies in delivering accurate, timely, and engaging content across diverse topics, contributing to the platform’s reputation for excellence in journalism. Through her leadership, she ensures high editorial standards and an unwavering commitment to journalistic integrity.
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