The Nigerian All-Share Index (ASI) closed slightly lower on Monday, 19 January 2026, slipping by 0.01% to settle at 166,112.5 points.
This reflects a modest 17-point decline from the day’s opening level of 166,129.5 points, despite a noticeable uptick in trading activity.
Market activity strengthened as trading volume climbed to 629 million shares from 539.8 million in the previous session, with total market capitalisation at N106.34 trillion across 57,858 deals.
NSLTECH (Secure Electronic Technology) and Access Holdings were the most actively traded stocks, driving market turnover for the day.
The ASI’s marginal decline trimmed its year-to-date return to 6.75%, signalling cautious investor sentiment amid selective buying.
On the gainers’ table, NCR, Champion Breweries, and Learn Africa each advanced by the maximum 10%. Conversely, IMG and HMCALL led the decliners, shedding 9.95% and 9.88%, respectively.
Trading activity increased across several counters.
By transaction value, Zenith Bank topped the chart with trades worth N1.56 billion.
Aradel and Access Holdings followed closely with N1.51 billion and N1.21 billion, while GTCO recorded N1.2 billion in trades.
UBA rounded out the top five with N697.2 million worth of shares exchanged.
Stocks worth over N1 trillion (SWOOTs) ended the session largely on a bearish note.
Among the FUGAZ banking stocks, performance was mixed.
The subdued close reflects growing investor caution after recent market gains, as profit-taking and selective buying continue to influence trading behaviour.
Despite the slight decline, the sharp increase in trading volume points to active repositioning rather than broad-based selling, suggesting that market liquidity remains healthy.
How the market moves through this consolidation phase will be key in determining whether the broader rally is sustained or gives way to a deeper pullback.
The All-Share Index is undergoing a mild retracement as investors take profit and reassess valuations.
The All-Share Index is undergoing a mild retracement as investors take profit and reassess valuations.
While renewed buying interest in select large-cap stocks could extend the broader rally, the market remains vulnerable to further pullbacks in the near term due to stretched price levels.