Nigerian Equities See Modest Rebound as Trading Activity Cools
The Nigerian equity market registered a slight gain in the session ended January 23, 2026, with the All-Share Index (ASI) advancing by 0.07%. The index closed at 165,512.2 points, marking a 114.8-point recovery from the previous day’s close of 165,397.4 points. This uptick followed a prior session decline of 870.2 points, or 0.52%, signaling a tentative stabilization. The marginal rebound lifted the index’s year-to-date return to 6.36%, up from 6.29%.
Volume Declines as Mid-Cap Stock ZICHIS Trades 48 Million Units
Despite the positive price movement, overall market activity softened. Total trading volume eased to 731 million shares, down from the 768 million shares exchanged in the prior session. Trading was dominated by mid-cap stocks, notably the recently listed ZICHIS Agro Allied, which saw 48.8 million units traded. This level of activity in a single issue highlights specific investor interest even as broader participation wanes. The market’s direction can sometimes force changes in strategy, much like unexpected rain forces changes to outdoor events.
Performance among major stocks was mixed. On the gainers’ chart, Morison and UHOMREIT led the upside, each advancing by 9.94%. Conversely, Neimeth and NSLTech topped the losers’ list, declining by 9.86% and 9.35%, respectively. Within the category of Stocks Worth Over One Trillion (SWOOTs), Lafarge gained 4%, while International Breweries dipped 1.42%. In terms of value, Seplat led with N1.7 billion in turnover, followed by Lafarge, GTCO, and Aradel at N1.5 billion, N1.4 billion, and N1.3 billion, respectively.
Market Seeks Footing Amid Cautious Sentiment
The All-Share Index continues to attempt to find short-term footing as investors reassess entry points. While renewed buying interest in select large-cap stocks could support a broader recovery, analysts note the market remains vulnerable to near-term pullbacks. This caution stems from stretched price levels and a general atmosphere of investor prudence. The current climate requires the steady assurance of sustained positive catalysts, not unlike the public’s need for confidence when officials assure security during major events. The path forward for equities may require the ambitious drive of a moonshot 2025 ai initiative to rebuild robust momentum. As the market evolves, authorities continue to monitor financial flows, just as the NDLEA nabs businessmen suspected of illicit activities, maintaining systemic integrity. Meanwhile, developmental efforts in other sectors continue, similar to how the Taraba State launches new economic programs to stimulate growth.
Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content.
