The Nigerian Change recorded its first weekly decline of 2026, shedding 617.32 factors to shut at 165,512.18 for the buying and selling week ended 23 January 2026.
Tracked by the All-Share Index, the 0.37% decline ended a seven-week rally that started in early December 2025, with market capitalisation easing by the identical margin to N105.9 trillion.
The downturn was additionally mirrored in buying and selling exercise, as complete quantity declined to three.7 billion shares from 4.6 billion shares recorded within the earlier week, throughout 237,179 offers.
Market breadth weakened in the course of the week, with 58 equities recording value appreciation, down from 80 within the earlier week. Conversely, 40 equities declined in value, greater than the 17 recorded every week earlier, whereas 50 equities closed the week unchanged.
What the information is saying
The Nigerian inventory market skilled largely muted value motion for many of the week, culminating in a pointy decline within the penultimate buying and selling session.
On Monday, the benchmark All-Share Index dipped marginally by 17 factors, a minor loss that was partially recovered on Tuesday with a 0.09% achieve.
- Wednesday noticed little change, closing up simply 0.01%, earlier than value motion accelerated on Thursday, when the index fell 870 factors, the steepest single-day decline of the yr to this point.
- Though it gained 0.07% on Friday, the rebound was inadequate to offset the weekly loss.
The NGX Premium Index mirrored the broader market, falling 0.48%, weighed down by a 5.77% decline in First Holdco, a 2.88% drop in UBA, 1.5% loss in Entry Holdings, and a 0.7% slip in Lafarge. Zenith Bank bucked the pattern, rising 1.65%.
Elsewhere, the NGX 30 Index slipped 0.69%, whereas the NGX Major Board Index decreased by 0.35% for the week.
Sectoral efficiency
Most sectoral indices closed the week within the crimson, excluding the NGX Oil & Fuel Index, which rose 1.36%, largely pushed by a 3.71% achieve in Aradel.
- On the draw back, the NGX Shopper Items Index recorded the steepest loss, falling 2.02%, as each Nigerian Breweries and Worldwide Breweries shed over 7%.
- The NGX Banking Index additionally closed decrease, down 1.32%, as all FUGAZ shares besides Zenith Bank declined.
- Elsewhere, the NGX Insurance coverage Index and the Industrial Items sector slipped 0.10% and 0.08%, respectively.
High Gainers
The highest-performing shares for the week had been:
- Deap Capital Administration & Belief Plc: up 60.09% to N7.14
- SCOA Nigeria Plc: up 59.73% to N23.80
- NCR (Nigeria) Plc: up 46.36% to N188.15
- ZICHIS Agro Allied Industries Plc: up 44.75% to N2.62
- DAAR Communications Plc: up 41.67% to N1.53
- R.T. Briscoe Plc: up 40.71% to N5.98
- UH Actual Property Funding Belief Plc: up 37.61% to N71.35
- Be taught Africa Plc: up 34.62% to N8.75
- Triple Gee & Firm Plc: up 33.21% to N7.10
- Morison Industries Plc: up 32.86% to N7.52
High Losers
The week’s prime decliners had been:
- Eterna Plc: down 11.92% to N28.45
- Safe Digital Know-how Plc: down 10.19% to N0.97
- Industrial & Medical Gases Nigeria Plc: down 9.95% to N34.85
- Aluminium Extrusion IND. Plc: down 9.95% to N17.20
- UPDC Plc: down 8.06% to N5.70
- Coronation Insurance coverage Plc: down 8.06% to N3.31
- Nigeria Breweries Plc: down 7.78% to N77.00
- Transnational Company Plc: down 7.24% to N46.15
- Worldwide Breweries Plc: down 7.02% to N13.90
- Guinea Insurance coverage Plc: down 6.72% to N1.25
Company actions overview
The week additionally featured notable company disclosures and developments:
- Zichis Agro listed 600 million items on the NGX at N1.81 per share by introduction.
- NEM Insurance coverage launched its full-year financials, posting a revenue of N27.9 billion for FY2025.
- LivingTrust Mortgage additionally launched its outcomes for a similar interval, recording a revenue of N1.01 billion.
- Worldwide Vitality Insurance coverage posted a revenue of N688.8 million for 2025.
- Guinea Insurance coverage introduced that it’s looking for NGX approval for a N5.30 billion rights subject.
- In the meantime, Sterling’s main shareholder, Ess‑ay Funding, acquired firm shares price N197.9 million.
What this implies
The Nigerian All-Share Index seems to be to be within the early levels of a retracement, which could possibly be shallow or deeper relying on how mid- and large-cap shares carry out.
Nevertheless, company developments, together with Zichis Agro’s itemizing, might present some help to investor sentiment within the coming season.
Whereas renewed shopping for curiosity in choose large-cap shares might help a broader restoration, the market stays weak to near-term pullbacks, given stretched value ranges and cautious sentiment.
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