Nigerian Stock Market Rebounds as Market Cap Gains ₦93bn

Nigeria’s stock market reversed the previous session’s losses on Tuesday, January 20, 2026, as fresh buying interest returned to select equities and lifted overall market value.

The NGX All-Share Index (ASI) inched up by 144.33 points, or 0.09%, to close at 166,256.83 points, from 166,112.50 points. Market capitalisation also rose by ₦93.48 billion to ₦106.44 trillion, up from ₦106.34 trillion.

The rebound was driven by renewed demand in pockets of the market, even as performance across sectors remained mixed. Market breadth still leaned positive, with 39 stocks closing higher and gainers outnumbering losers.

Top gainers and losers

Red Star Express led the gainers, rising from ₦14.50 to ₦15.95 (+10.00%). Deap Capital Management & Trust climbed from ₦4.90 to ₦5.39 (+10.00%), while NPF Microfinance Bank moved from ₦4.30 to ₦4.73 (+10.00%). 

NCR Nigeria advanced from ₦141.40 to ₦155.50 (+9.97%), and Morison Industries rose from ₦6.22 to ₦6.84 (+9.97%).

On the losing side, Aluminium Extrusion Industries dropped from ₦19.10 to ₦17.20 (–9.95%). Jaiz Bank fell from ₦8.00 to ₦7.21 (–9.88%), FTN Cocoa Processors slid from ₦7.70 to ₦7.05 (–8.44%), UPDC declined from ₦6.20 to ₦5.70 (–8.06%), and Caverton Offshore Support Group eased from ₦8.05 to ₦7.60 (–5.59%).

Activity and turnover

Trading activity remained solid. A total of 795.46 million shares worth ₦19.98 billion were exchanged in 45,390 deals.

Tantalizers topped the volume chart with 86.96 million shares valued at ₦300.92 million. Secure Electronic Technology traded 74.15 million shares worth ₦87.56 million, while Zichis Agro Allied Industries exchanged 69.60 million shares valued at ₦138.50 million. 

Zenith Bank recorded 49.10 million shares worth ₦3.53 billion, and GTCO traded 39.05 million shares valued at ₦3.79 billion.

What this rebound signals

The day’s modest gain suggests investors are still willing to selectively take positions, especially in names attracting renewed attention, even while losses in some counters show risk appetite remains cautious. 

The next few sessions will be a test of whether this rebound is the start of a steadier recovery or simply a short-lived bounce.