Nigeria’s equity market has opened 2026 on a historic note, with the Nigerian Exchange Limited (NGX) recording its highest-ever market valuation as renewed investor appetite lifted total capitalization beyond the ₦100 trillion threshold.
Market data shows that equity investors collectively gained ₦1.87 trillion in value during the early days of the year, reinforcing the NGX’s growing status as a preferred hedge against inflationary pressures and currency volatility.
The benchmark NGX All-Share Index advanced by 1.74 percent to settle at a record 159,218.22 points, reflecting strong buying interest across major sectors. Market capitalization rose to ₦101.52 trillion, driven in part by the listing of an additional 2.575 billion ordinary shares of First Bank Holdings, which further expanded the size of the market.
The rally follows an exceptional performance in 2025, when the Nigerian stock market delivered a cumulative return of 51.2 percent, largely supported by increased participation from domestic investors seeking capital appreciation and dividend income amid persistent macroeconomic challenges.
Investor sentiment remained firmly positive, with market breadth closing at 10.42 times. A total of 73 stocks recorded price appreciation during the session, significantly outweighing just seven decliners. Leading gainers included Cadbury Nigeria, Champion Breweries, Fidson Healthcare, PZ Cussons, and Wapic Insurance, while stocks such as Juli Plc, Ikeja Hotel, Sunu Assurances, Sovereign Trust Insurance, and Berger Paints ended the session among the laggards.
Sectoral indices posted broad-based gains, underscoring the strength of the rally. The insurance index led the market with a 4.97 percent surge, followed closely by the banking index, which climbed 4.71 percent. Oil and gas stocks gained 2.75 percent, consumer goods advanced by 2.06 percent, commodities rose 1.59 percent, while industrial goods added 0.95 percent.
Trading activity reflected selective positioning by investors. The total number of executed deals increased by 40.72 percent to 56,632 transactions, while traded volume rose by 58.12 percent to 695.65 million shares. However, total transaction value declined by 25.65 percent to ₦18.57 billion, suggesting increased activity in high-volume, lower-priced equities.
Market analysts say the continued rally highlights growing confidence in listed companies’ earnings prospects and the stock market’s role as a long-term wealth creation platform for Nigerian investors.
 recording its highest-ever market valuation as renewed investor appetite lifted total capitalization beyond the ₦100 trillion threshold.){kind=link}