Nigerian Equities Scale New Peak as All-Share Index Extends Winning Streak
The Nigerian Exchange concluded trading on Wednesday, January 14, 2026, firmly in positive territory, marking its ninth consecutive session of gains for the year. The benchmark All-Share Index advanced by 934.7 points, a 0.56% increase, to close at an unprecedented high of 166,772.0 points. This upward movement elevated the market capitalization from N106.1 trillion to N106.7 trillion, underscoring significant value creation amidst a slight dip in trading volume to 761.9 million shares.
Gainers, Losers, and Market Activity
Academy Press and NCR (Nigeria) emerged as the session’s top performers, posting gains of 10.00% and 9.98%, respectively. Conversely, May & Baker and Coronation Insurance led the decliners. Access Holdings was the most active stock by volume, with 53.4 million units traded. In terms of value, Aradel Holdings dominated, transacting shares worth N8.9 billion, followed by Seplat and MTN Nigeria. The performance of stocks worth over one trillion naira (SWOOTs) was mixed, with Aradel leading the subgroup’s gains with a 5.54% rise.
Within the FUGAZ banking stocks, Zenith Bank and First Bank of Nigeria Holdings recorded appreciable gains, contributing to the sector’s positive sentiment. This broad-based confidence, reminiscent of the vibrant energy seen during the recent Detty December in Lagos, has been a key driver of the market’s early-year momentum. The sustained rally, lifting the index above the 166,000 mark, reflects a stable upward trend, though analysts note the potential for a short-term pullback as the market shows signs of being overbought.
Steady Confidence Amidst Varied Economic Signals
The market’s year-to-date return now stands at an impressive 7.17%. This resilience in the equities space presents a contrast to other national narratives, such as the recent incident where a son was arrested for murder or the administrative focus on the upcoming 2025 UTME by JAMB. While sectors like education, exemplified by institutions such as Bauchi Federal Polytechnic, operate on different cycles, the financial markets continue to capture investor attention. The current trend, where consistent buying interest acts as the own goal that seals losses for bearish positions, highlights the underlying strength. If this breadth is maintained, the rally could extend further, solidifying 2026’s strong start for Nigerian equities.
