Meyer, JaizBank Lead Gains as Nigerian Stock Market Extends Rally — ASI Climbs 0.46%
The Nigerian equities market sustained its buoyant start to 2026, with the Nigerian Exchange Limited (NGX) All-Share Index (ASI) recording a 0.46% gain in the second trading session of the year. The benchmark index rose by 732.86 points to close at 159,951.08, extending the bullish momentum from the previous session and inching closer to the historic 160,000-point milestone.
This performance reflects growing investor confidence across key sectors of the local bourse, with market participants keenly positioning portfolios amid expectations of improved earnings and sustained capital inflows in 2026.
Market Snapshot: Gains, Breadth and Value
On Tuesday, 6 January 2026, the NGX delivered another positive session. The market breadth was decisively bullish, with 65 gainers against 21 decliners, indicating strong buying interest spanning small, mid, and large-cap stocks.
Market capitalization followed suit, climbing by approximately N468 billion to settle at N102.275 trillion. This marks a continued recovery in total market value as investments and share prices rally after a broadly positive year for Nigerian equities.
Equities turnover during the session showcased active participation, with investors exchanging roughly 759 million shares worth about N19.9 billion across 54,212 deals. An increased volume and value of trades — up by roughly 9% and 7% respectively compared to the previous day — highlight heightened market activity and investor engagement.
Star Performers: Meyer and Jaiz bank Outshine
At the forefront of Tuesday’s rally were Meyer PLC and Jaiz bank Plc, both appreciating 10% on strong trading interest. Meyer closed at N14.30 per share, while Jaiz Bank finished the session at N5.28, leading the gainers’ chart for the day.
Other notable out-performers included:
- ABC Transport (+9.98%) — closing at N4.96
- AustinLaz (+9.94%) — finishing at N5.64
- Multiverse Mining (+9.94%) — ending at N17.70
These gains reflect a broad shift in market sentiment that extends beyond financials to commercial transport and industrial sectors.
Losses and Sector Weaknesses
While the market was largely positive, select stocks experienced sharp declines, indicating pockets of profit-taking or sector-specific headwinds:
- Aluminium Extrusion (-9.96%)
- Learn Africa (-9.16%)
- Oando (-7.69%)
- UBA PLC (-6.22%)
- Access Holdings (-6.00%).
These losses were spread across diverse sectors, including industrials, education, oil and gas, and banking, underscoring that the market’s broader gains did not uplift all counters uniformly.
Investor Activity and Outlook
Trading activity during the session improved compared to the prior day, with turnover volumes climbing and deals reflecting renewed confidence among both institutional and retail investors. Such heightened participation often signals strengthening market depth, an encouraging indicator for sustained gains.
While short-term volatility remains possible — particularly as macroeconomic policies and fiscal developments unfold — the current market trajectory suggests that equities could continue to attract capital inflows in the near term, especially in banking, industrial, and consumer sectors.
For investors, the recent rally underscores the importance of monitoring sectoral performance trends and earnings releases, as these fundamentals are likely to shape medium- to long-term investment decisions on the NGX this year.
Read Also
Comments