The Nigerian Exchange (NGX) closed trading on Monday largely unchanged as gains in select mid-cap stocks, real estate investment trusts, and exchange-traded products were offset by losses in pharmaceutical, insurance, and technology stocks.
The All-Share Index (ASI) ended the session flat at 165,517.56 points amid a pause in market direction after recent volatility.
Equity market capitalisation settled at ₦105.96 trillion, indicating stability despite mixed investor sentiment.
Trading Activity Remains Active
Market participation remained steady, supported by strong turnover in banking and technology-linked stocks.
While volumes moderated compared with earlier sessions, transaction value reflected selective positioning in higher-priced equities and ETFs.
Mid-Caps and REITs Lead Gainers
Buying interest was concentrated in financial services, real estate, and growth-oriented stocks.
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NPF Microfinance Bank gained 10.00 percent to close at ₦5.61
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Morison Industries advanced 9.97 percent
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UHOMREIT rose 9.95 percent, reflecting sustained demand for income-generating real estate assets
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Deap Capital Management & Trust climbed 9.94 percent
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Zichis Agro-Allied Industries gained 9.92 percent
The strength in these stocks highlights continued appetite for mid-cap and yield-focused names amid broader market consolidation.
Pharmaceuticals and Insurance Weigh on Losers’ Table
Sell pressure was evident in selected pharmaceutical, insurance, and technology stocks.
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May & Baker declined 10.00 percent
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Neimeth Pharmaceuticals fell 9.81 percent
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ABC Transport dropped 9.33 percent
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CWG slid 9.05 percent
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Sovereign Trust Insurance closed lower by 8.97 percent
The declines were driven largely by profit-taking following recent rallies rather than sector-wide weakness.
GTCO, Zenith Bank Dominate Trading by Value
Trading activity remained concentrated in tier-one banking stocks.
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CHAMS led by volume with 41.57 million shares
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GTCO topped the value chart with ₦3.11 billion in trades
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Zenith Bank followed with ₦1.84 billion
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Access Holdings and Guinea Insurance also recorded significant turnover
The dominance of banking stocks underscores continued institutional participation despite the flat market close.
Bond Market Sees Selective Interest
Activity in the fixed-income segment was mixed.
The FGS202772 bond recorded a sharp 22.99 percent price increase, while other government securities closed flat, reflecting selective demand rather than broad-based bond market movement.
ETFs Extend Uptrend
Exchange-traded products continued to attract strong inflows, pushing ETF market capitalisation to ₦105.11 billion.
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NEWGOLD advanced to ₦96,499.50
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SIAMLETF40 rose 543.95 points
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VSP Bond ETF, MERGROWTH, and GREENWETF all closed higher
The sustained ETF rally highlights growing investor preference for diversified and inflation-hedged instruments.
Market Outlook
The January 26 session reflects a consolidation phase for the Nigerian equities market. While headline indices closed flat, continued strength in ETFs, selective bond gains, and sustained banking sector activity suggest that underlying investor interest remains intact.
With equity market capitalisation holding near ₦106 trillion, near-term market direction is expected to remain selective, with focus on mid-cap opportunities, income-generating assets, and liquid banking stocks as investors await clearer catalysts.