The Nigerian All-Share Index rebounded by 0.07% in the trading session ended 23 January 2026, closing at 165,512.2 points, up from 165,397.4 points.
This move reflects a 114.8-point recovery from the previous session, when the index declined by 870.2 points, shedding 0.52%.
Despite the modest price rebound, market activity softened, with trading volume easing to 731 million shares from 768 million shares recorded a day earlier.
Mid-cap stocks dominated trading activity, with the recently listed ZICHIS Agro Allied hitting 48.8 million shares.
The All-Share Index’s 0.07% rebound lifted its year-to-date return to 6.36% from 6.29%, signalling a cautious return of buying interest.
On the gainers’ chart, Morison and UHOMREIT led the upside, each advancing by 9.94%. Neimeth and NSLTech topped the losers’ list, declining by 9.86% and 9.35%, respectively.
By transaction value, Zenith Bank dominated the market with trades worth N3.4 billion.
Seplat followed at N1.7 billion, while Lafarge, GTCO, and Aradel recorded turnover of N1.5 billion, N1.4 billion, and N1.3 billion, respectively.
Among SWOOTs (stocks with market capitalisation above N1 trillion), performance was mixed. Lafarge gained 4%, while International Breweries dipped 1.42%.
FUGAZ banking stocks recorded a largely positive outing.
In contrast, UBA closed lower, shedding 1.35%.
The rebound suggests selling pressure is easing, but the recovery is still fragile.
The All-Share Index is still attempting to find short-term footing, as investors reassess entry points.
While renewed buying interest in select large-cap stocks could support a broader recovery, the market remains vulnerable to near-term pullbacks, given stretched price levels and cautious sentiment.