Equities Strengthens as NGX Market Cap Gains N138bn
Nigerian equities closed the trading session on a positive note on Thursday as the total market capitalisation of the Nigerian Exchange Limited (NGX) increased by N138bn, reflecting modest investor optimism despite mixed trading activity across sectors.
At the close of trading, total market capitalisation rose to N102.82tn from N102.68tn recorded in the previous session, representing a gain of N138bn. The All-Share Index also advanced by 214.80 points, or 0.13 per cent, to close at 160,806.56 points, compared with 160,591.76 points on Wednesday.
Market activity moderated, with a total of 645.02 million shares valued at N16.42bn exchanged in 44,380 deals. This reflected a 19 per cent decline in turnover and a 10 per cent drop in the number of deals compared with the previous trading day, indicating cautious participation by investors.
Overall market breadth was negative, as 41 stocks declined against 32 gainers, underscoring profit-taking in several counters despite the marginal improvement in headline indices.
On the gainers’ table, Neimeth International Pharmaceuticals led the pack with a 10.00 per cent appreciation to close at N7.70 per share. It was followed by May & Baker Nigeria, which gained 9.85 per cent to close at N26.20; E-Tranzact International, up 9.64 per cent at N13.65; and Multiverse Mining and Exploration, which rose by 9.51 per cent to N21.30.
Conversely, International Energy Insurance topped the losers’ chart, shedding 9.90 per cent to close at N2.73 per share. Associated Bus Company declined by 9.88 per cent to N4.47, Austin Laz & Company lost 9.84 per cent to close at N4.58, while Conoil dropped by 9.72 per cent to N169.00.
In terms of trading activity, Chams recorded the highest volume, with 60.46 million shares exchanged, followed by Linkage Assurance with 54.11 million shares, Tantalizers with 44.96 million shares, and Access Holdings with 35.52 million shares.
On the value chart, Zenith Bank led transactions, with shares worth N1.51bn traded during the session. Seplat Energy followed with a trade valued at N1.20bn, while Unilever Nigeria and Guaranty Trust Holding Company recorded trades valued at N1.20bn and N1.01bn, respectively.
Analysts said the marginal gain in market capitalisation suggests selective bargain hunting, even as investors remain cautious ahead of corporate earnings releases and evolving macroeconomic conditions.
Economic Confidential reported that the Nigerian Exchange closed trading on Wednesday, 7 January 2026, on a bullish note as sustained buying interest in key stocks lifted the benchmark index and market capitalisation.