Nigerian stocks edge higher as turnover surges

The Nigerian Exchange (NGX) closed Tuesday, January 20, 2026, marginally higher as improved turnover offset a decline in deal count. The benchmark All-Share Index (ASI) rose 0.09% to 166,256.83 points, lifting year-to-date gains to 6.84%.

Investors traded 795.5 million shares valued at ₦19.98 billion in 45,390 deals, marking a 26% increase in volume and 35% rise in value compared with Monday’s session, though deals fell 22%. Market capitalization stood at ₦106.4 trillion.

Market breadth was positive with 39 gainers against 25 losers. Red Star Express led advancers with a 10% gain to ₦15.95, followed by Deap Capital Management & Trust, NPF Microfinance Bank, and NCR Nigeria. Aluminium Extrusion Industries topped decliners, shedding 9.95% to ₦17.20, while Jaiz Bank, FTN Cocoa Processors, and UPDC also posted losses. Tantalizers recorded the highest volume at 87 million shares, ahead of Secure Electronic Technology, Zichis Agro Allied Industries, and Zenith Bank.

Sectoral performance was mixed. The NGX Insurance Index rose 2.8% and Oil & Gas advanced 2.4%, both extending strong year-to-date gains above 14%. The NGX Main Board added 0.19%, Pension Index gained 0.09%, and Consumer Goods edged up 0.03%, while the NGX Top 30 was flat.

Analysts noted that the surge in turnover despite fewer deals reflects stronger institutional participation in large-cap stocks. Bond market activity also remained in focus, with the Debt Management Office announcing plans to raise ₦900 billion in January auctions, a move expected to influence liquidity and investor sentiment.