NGX Market Capitalisation Hits ₦106.3trn as Turnover Rises

The Nigerian Stock Exchange (NGX) closed Thursday, January 15, 2026, on a positive note, recording significant improvements in trading volume and turnover despite a slight decline in the number of deals. At the end of the session, a total of 1,025,534,120 shares were exchanged in 51,194 transactions, corresponding to a market value of ₦31.36 billion. This represented a 36 percent increase in traded volume and a 6 percent rise in turnover compared with Wednesday’s session, although the number of deals fell by 8 percent. The overall market capitalisation stood at ₦106.3 trillion, underscoring the resilience of the equities market amid ongoing reforms.

Market breadth closed mixed, with 132 listed equities participating in trading. Out of these, 36 recorded price appreciation while 41 declined, reflecting cautious investor sentiment. Nestle Nigeria emerged as the day’s top gainer, appreciating by 10 percent to close at ₦2,153.80 per share. NCR Nigeria followed closely with a 9.97 percent rise, while Jaiz Bank and Morison Industries gained 9.92 percent and 9.9 percent respectively. The rally in these stocks contributed to the overall improvement in turnover and market value.

On the flip side, McNichols led the losers’ chart, shedding 9.99 percent to close at ₦6.58 per share. Caverton Offshore Support Group declined by 9.47 percent, Ikeja Hotel lost 9.43 percent, while FTN Cocoa Processors fell 9.38 percent. Analysts noted that profit-taking activities and sector-specific challenges contributed to the downward movement in these counters.

In terms of market activity, Sovereign Trust Insurance recorded the highest volume of traded shares, with 245 million units changing hands. Access Holdings followed with 78.4 million shares, while Zenith Bank posted 72.4 million shares. Jaiz Bank also featured prominently with 53.7 million shares traded. The dominance of financial services stocks in the volume chart highlighted continued investor interest in the banking and insurance sectors, which remain key drivers of liquidity in the market.

Market watchers observed that the rise in turnover alongside higher volumes, despite fewer deals, suggests that investors are consolidating positions in select equities rather than spreading trades across multiple counters. This trend reflects growing confidence in blue-chip stocks and companies with strong fundamentals, even as broader market sentiment remains cautious.

With market capitalisation crossing the ₦106 trillion mark, analysts believe the NGX is well positioned to sustain momentum, provided macroeconomic conditions remain stable and reforms continue to attract both local and foreign investors.