The Nigerian Exchange Limited (NGX) experienced a significant surge in market capitalization on January 9, 2026, with a single-day increase of N953 billion. This substantial gain was driven by the strong performance of five major stocks, including Industrial and Medical Gases, McNicholas, SCOA Nigeria, May and Baker, and FTN Cocoa Processors, as well as 43 other equities that recorded gains.
The market’s upward trend was evident in the 0.93 percent rise in total market capitalization, which climbed from N102.822 trillion at the opening to N103.775 trillion at the close of trading. This increase added N953 billion to investors’ wealth, demonstrating a positive market sentiment. The All-Share Index also advanced by 0.93 percent, gaining 1,491.52 points to settle at 162,298.08, up from 160,806.56 in the previous session.
The positive market sentiment was further reflected in the number of stocks that recorded gains, with 48 stocks advancing against 28 decliners. This widespread buying interest across sectors was a key factor in the market’s overall performance. The top performers for the day were Industrial and Medical Gases, SCOA Nigeria, McNicholas, May and Baker, and FTN Cocoa Processors, which led the rally.
On the other hand, Aluminium Extrusion Industries was the biggest loser, shedding 9.91 percent to close at N19.10, followed by Austinlaz, Sovereign Trust Insurance, and Prestige Assurance. Trading activity was moderate, with 624.1 million shares exchanged in 43,816 deals, resulting in a turnover value of N18.5 billion. This compares to 645.1 million shares worth N16.4 billion in the preceding session.
The significant increase in market capitalization is a notable development in the Nigerian stock market, highlighting the potential for growth and investment opportunities. As the market continues to evolve, it is essential to monitor the performance of key stocks and sectors to understand the underlying trends and factors driving the market’s direction. With the NGX being a key indicator of the country’s economic performance, this surge in market capitalization may have broader implications for the Nigerian economy and investors.
