Nigerian Exchange Ends Thursday Mixed as Trading Volume Falls

The Nigerian Stock Exchange (NGX) closed Thursday, January 29, 2026, with a modest uptick in its benchmark indices, even as market activity experienced noticeable declines compared to the previous session. By the end of trading, a total of 550,402,871 shares changed hands across 38,635 deals, representing a market value of ₦14.14 billion. This marked a 12 percent drop in trading volume, a 14 percent decline in turnover, and an eight percent reduction in the number of deals compared with Wednesday’s session. The exchange’s current market capitalization stood at ₦106 trillion, reflecting the continued resilience of listed equities despite the slowdown in trading activity.

A total of 131 NGX-listed equities participated in Thursday’s trading, with 41 advancing and 27 declining in share price. Leading the gainers was RT Briscoe, which saw its stock surge 10 percent to close at ₦7.15 per share. SCOA Nigeria and Deap Capital Management & Trust followed closely, each posting a gain of 9.91 percent, while Veritas Kapital Assurance recorded a 9.85 percent increase. On the losing side, Haldane McCall recorded the sharpest decline, falling 9.84 percent to close at ₦3.94 per share. It was followed by Union Dicon Salt, which shed 9.79 percent, University Press down 8 percent, and Legend Internet, which fell 7.56 percent.

Veritas Kapital Assurance emerged as the most actively traded stock in terms of volume, accounting for 56.6 million shares exchanged. Guaranty Trust Holding followed with 26 million shares, while Tantalizers also recorded 26 million shares traded. Japaul Gold and Ventures saw 25.9 million shares change hands, rounding out the list of highly active stocks for the session.

Despite declines in volume and turnover, the NGX All-Share Index (ASI) managed to edge higher, rising by 362.93 points or 0.22 percent to close at 165,527.31. The index posted a modest one-week gain of 0.08 percent and a four-week advance of 6.37 percent, bringing the year-to-date growth to 6.37 percent. The NGX Top 30 Index similarly recorded a marginal increase of 0.23 percent, reflecting a 0.08 percent gain over the past week and a 5.53 percent increase year-to-date.

Sectoral indices also performed positively during the session. The NGX Banking Index advanced 0.68 percent, building on a one-week gain of 0.46 percent and a year-to-date growth of 7.82 percent. The NGX Insurance Index climbed 0.64 percent, although it recorded a slight one-week decline of 1.3 percent, bringing its year-to-date performance to 9.89 percent. The NGX Consumer Goods Index added 0.46 percent, reflecting a 0.29 percent gain over the past week and a 3.11 percent increase so far this year. Meanwhile, the NGX Premium Index showed positive movement, bolstering overall market sentiment.

Analysts noted that while trading activity slowed compared with the previous day, the market’s resilience in the face of reduced volume signals underlying investor confidence in key equities. Market watchers highlighted that the gains in leading stocks such as RT Briscoe, SCOA Nigeria, and Veritas Kapital Assurance could indicate renewed interest in sectors positioned for recovery and growth.

As investors look ahead, the NGX’s performance suggests a cautiously optimistic outlook, with gains in core indices and sector-specific strength partially offsetting the decline in trading activity. With a market capitalization of ₦106 trillion and steady price movements across benchmark indices, the Nigerian equity market remains a focal point for investors navigating both domestic and global economic dynamics.