Financial and Pharma Stocks Drive Liquidity with Over 160m Shares Traded

The Nigerian Exchange (NGX) closed trading on Wednesday, January 28, 2026, with a mixed performance across key indicators, reflecting both resilience and volatility in the equities market. At the end of the session, a total of 623,119,412 shares were exchanged in 42,119 deals, corresponding to a market value of ₦16.51 billion. This marked a 29 percent improvement in trading volume compared to the previous day, though turnover declined by 5 percent, while the number of deals improved by 2 percent. The market capitalization stood at ₦105.7 trillion, underscoring the depth of activity in the Nigerian capital market despite the slight downturn in value traded.

A total of 130 listed equities participated in the day’s trading, with 32 recording gains and 38 posting losses. Union Homes Real Estate Investment led the gainers with a 9.97 percent appreciation, closing at ₦94.85 per share. It was closely followed by Deap Capital Management & Trust, which also gained 9.97 percent, while Tantalizers rose by 9.92 percent and Skyway Aviation Handling Company advanced by 9.91 percent. On the losing side, RT Briscoe topped the chart with a 9.97 percent decline, closing at ₦6.50 per share. Other notable losers included May & Baker Nigeria, which shed 9.96 percent, Ikeja Hotel with a 9.92 percent drop, and LivingTrust Mortgage Bank, which fell by 9.9 percent.

In terms of volume, Neimeth International Pharmaceuticals recorded the highest activity with 58.1 million shares traded. Chams followed with 39.5 million shares, while Access Holdings and Zenith Bank posted 33.4 million and 32.4 million shares respectively. These figures highlight the dominance of financial and pharmaceutical stocks in driving liquidity during the session.

The benchmark NGX All-Share Index (ASI) shed 549.44 points, representing a 0.33 percent decline, to close at 165,164.38. This performance translated to a one-week loss of 0.66 percent, though the index maintained a four-week gain of 6.53 percent and a year-to-date appreciation of 6.14 percent. The mixed trajectory of the ASI reflects investor caution amid profit-taking activities, even as medium-term sentiment remains positive.

Other indices also posted varied performances. The NGX Top 30 Index fell by 0.33 percent, recording a one-week loss of 0.77 percent but maintaining a year-to-date gain of 5.29 percent. The NGX Industrial Index closed flat, with a marginal weekly decline of 0.08 percent and a year-to-date gain of 5.45 percent. The NGX Oil and Gas Index slipped by 0.04 percent, reflecting a weekly loss of 0.19 percent but sustaining a strong year-to-date gain of 13.68 percent. The NGX Main Board Index dropped by 0.18 percent, with a weekly decline of 0.4 percent and a year-to-date gain of 4.12 percent. The NGX Pension Index fell by 0.3 percent, recording a weekly loss of 0.89 percent but showing a year-to-date gain of 8.33 percent. The NGX Banking Index shed 0.44 percent, posting a weekly decline of 1.18 percent but maintaining a year-to-date gain of 7.09 percent.

Overall, Wednesday’s trading session reflected a market that remains buoyant in terms of volume and breadth, but cautious in value performance. The gains recorded by select equities were offset by declines in others, while the indices showed resilience in year-to-date growth despite short-term losses. This underscores the dynamic nature of the Nigerian capital market, where investor sentiment continues to balance between optimism for long-term growth and caution in the face of immediate volatility.