The Nigerian stock market surge lifted market capitalisation above N106 trillion as equities recorded strong gains in early 2026 trading

The Nigerian stock market extending its positive momentum for the seventh consecutive trading day, as the market capitalisation of the Nigerian Exchange Limited (NGX) crossed the N106 trillion mark.

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The NGX All Share Index (NGX ASI) rose by 2,592.64 basis points, equivalent to 1.59 per cent, to close at 165,837.33 points.

Market capitalisation increased by N1.661 trillion to settle at N106.182 trillion, reflecting robust investor confidence.

Market breadth was firmly positive, with 55 stocks advancing compared to 13 decliners.

DEAP Capital Management & Trust, eTranzact International, PZ Cussons Nigeria, Caverton Offshore Support Group, and MTN Nigeria recorded the highest gains of 10 per cent each, closing at N3.63, N18.15, N58.30, N7.70, and N605 per share respectively.

Ellah Lakes rose by 9.97 per cent to N17.10, while NCR Nigeria gained 9.95 per cent to close at N96.65 per share.

Conversely, Universal Insurance led the losers’ chart with a 6.25 per cent decline to N1.20 per share.

Prestige Assurance followed with a 5.81 per cent drop to N1.62, and Regency Alliance Insurance FTN declined by 5.17 per cent to N1.10 per share.

Academy Press and Royal Exchange also fell by 5.06 per cent and 3.98 per cent, closing at N7.50 and N1.93 respectively.

Trading activity saw a slight 1.58 per cent dip in volume, with 1.131 billion units exchanged at a total value of N33.550 billion across 49,216 deals.

Sovereign Trust Insurance led in traded volume with 343.543 million shares valued at N1.117 billion.

Access Holdings followed with 86.227 million shares worth N1.980 billion, and eTranzact traded 61.104 million shares valued at N1.109 billion.

Linkage Assurance and Chams Holdings completed the top five by volume.

Commenting on market outlook, Imperial Asset Managers Limited said the market sentiment is likely to remain cautiously positive in the near term, supported by early-year momentum and sustained interest in large-cap, fundamentally strong stocks.

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The firm noted, however, that gains were concentrated in a few heavyweights and that selective profit-taking in weaker names could lead to stock-specific rather than broad-based growth, with investors expected to rotate between sectors based on earnings and valuations.