The Nigerian All-Share Index (ASI) closed the trading session on 16 January 2026 slightly higher, gaining 72.2 points to settle at 166,129.5.
This marks a modest 0.04% increase from the previous day’s close of 166,057.3, when the market declined by 0.43%.
Trading activity slowed noticeably, with 539.8 million shares exchanged, down from 1.03 billion shares in the prior session.
Despite the softer volume, market capitalisation was largely unchanged at N106.3 trillion, across 48,023 deals.
The ASI’s marginal gain of 0.04% lifted its year-to-date return to 6.76%, reflecting cautious buying interest.
On the gainers’ board, Redstarex and NCR (Nigeria) led the rally, rising by 10.00% and 9.97%, respectively.
Meanwhile, McNichols and Legend Internet topped the losers’ list, declining by 8.81% and 7.56%.
Trading activity was softer across counters.
However, Zenith Bank recorded the highest volume, with 54.5 million shares traded, followed by Jaiz Bank (41.4 million) and NSLTECH (37.7 million).
Access Holdings and Lasaco completed the top five by volume, exchanging 30.5 million and 27.2 million shares, respectively.
By transaction value, Zenith Bank also led the session with trades worth N3.7 billion.
GTCO and Okomu Oil followed at N1.5 billion each, while Aradel posted N1.05 billion, and MTNN rounded out the top five with N726.9 million in traded value.
Stocks worth over one trillion naira (SWOOTs) closed the session on a bearish note, as Nigerian Breweries declined by 0.60% and Lafarge slipped 1.81%.
Among the FUGAZ banking stocks, performance was mixed.
The session shows that investors are selective.
This mix suggests cautious trading, with investors taking profits from some heavyweights but still showing confidence in strong banking stocks.
This mix suggests cautious trading, with investors taking profits from some heavyweights but still showing confidence in strong banking stocks.
Market Outlook
The All-Share Index started the day slightly higher, rising 0.04%. If buying interest strengthens across individual stocks, the market could see a more pronounced rally.
However, the risk of a short-term dip remains.