The Nigerian Change delivered a robust begin to 2026, gaining 6.27% in January because the All-Share Index rose by 9,757.4 factors to shut at 165,370.4.
This efficiency is a giant step up from January 2025, when the index gained simply 1.53%, displaying stronger early-year momentum as market worth climbed to N106.1 trillion.
Past value features, buying and selling exercise improved, with over 15 billion shares exchanged versus 12 billion in January 2025, reflecting stronger investor participation.
The rally was pushed by standout particular person shares, with the highest 10 names posting features of over 80%, highlighting the breadth of the market’s advance.
Throughout the first three buying and selling weeks of January, the market pushed the index above 166,000 for the primary time ever, earlier than a gentle pullback within the closing two weeks trimmed some features.
Nonetheless, regardless of the late-month decline, returns among the many top-performing shares remained distinctive. Listed here are the highest 10 shares.
Might & Baker Nigeria Plc ranked tenth in January 2026, delivering an 84.21% return. The inventory opened at N19, with over 80 million shares traded, and closed the month at N35.
Efficiency was strongest within the second buying and selling week, with the share value peaking at N43.50 within the fourth week. Revenue-taking within the closing week eased momentum, and the inventory stabilized round N35.
The rally possible mirrored constructive sentiment throughout pharmaceutical shares on the NGX, supported by improved gross sales.
In its most up-to-date twelve-month financials, income rose to N38.2 billion from N28.9 billion, whereas post-tax revenue jumped to N4.4 billion, practically 3 times the N1.62 billion recorded the earlier 12 months.
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