NGX All-Share Index Tops 156,000 in New Year Rally

The Nigerian Exchange (NGX) All-Share Index (ASI) closed the week ended 2 January 2026 on a strong footing, gaining 2,952.53 points to settle at 156,492.36.

The weekly performance represents a 1.92% increase from the previous close of 153,539.83, marking the first time the benchmark index has crossed the 156,000 level in its history. Trading activity during the week was limited to four sessions, as Thursday, 1 January 2026, was observed as a public holiday for the New Year celebration.

Despite the shortened trading week, market activity strengthened significantly, reflecting renewed investor confidence and sustained buying interest across multiple sectors.

What the data shows

Trading volumes rose sharply during the week, with total market turnover increasing to 7.8 billion shares valued at N134.4 billion, executed across 150,799 deals. This compares with 2.8 billion shares traded in the previous week, highlighting a substantial improvement in market participation.

Equity market capitalisation climbed to N99.93 trillion, representing a 2.09% increase from N97.89 trillion, as rising share prices boosted overall market value and pushed the Exchange closer to the N100 trillion milestone.

Market breadth also strengthened considerably. A total of 73 equities recorded price gains, up from 44 in the preceding week, while 23 equities declined, compared with 30 previously. Meanwhile, 51 equities closed flat, indicating relatively broad-based participation in the rally.

Market performance trends

The All-Share Index remained in positive territory throughout the week, reflecting sustained investor optimism. The market opened the week with a 849.70-point gain (+0.55%) on Monday and followed with an additional 0.42% increase on Tuesday, setting the tone for continued upward momentum.

Investor sentiment was further supported by notable corporate and sector developments, including major energy-sector transactions that reinforced confidence in long-term capital inflows and asset consolidation on the Exchange.

Market outlook

With the ASI edging closer to sustained levels above 156,500, the Nigerian equity market is now only marginally below the N100 trillion market capitalizatiocapitalization.

If buying interest continues to broaden across more stocks, the market could extend gains toward new highs above the 160,000 level. However, analysts note that a period of consolidation or mild retracement may follow once key resistance levels are tested.

Overall, the strong start to 2026 suggests that investor appetite remains firm, positioning the NGX for continued momentum in the near term, subject to market breadth and macroeconomic signals.