By 
By Osasome C.O
Telecoms, Banking Stocks Drive ₦1.66 Trillion Surge in Investors’ Wealth
The Nigerian Exchange (NGX) has sustained its bullish momentum into the early days of 2026. Renewed buying interest in heavyweight stocks such as MTN Nigeria and United Bank for Africa (UBA) has propelled the market to new historic highs.
RELATED: Nvidia will be first company to hit $4 trillion in market cap despite sinking stock, new research says
On Tuesday, equity investors recorded a ₦1.66 trillion increase in portfolio value, with market capitalisation climbing to ₦106.18 trillion. This marks the first time the Nigerian bourse has crossed the ₦100 trillion threshold.
All-Share Index Sets New Record
Trading data from the local exchange showed that the NGX All-Share Index (ASI) advanced by 1.59 per cent to 165,837.32 points. This has effectively he;ped in extending the market’s positive run from late 2025.
The rally was powered by strong performances across major sectors, particularly telecommunications, banking and consumer goods. All of these reflect growing investor confidence in the outlook for corporate earnings and macroeconomic stability.
Blue-Chip Stocks Lead the Charge
Stockbrokers attributed the market’s impressive showing to strong demand for leading counters, including:
- MTN Nigeria (MTNN), which gained 10.00%
- Nigerian Breweries (NB), up 3.67%
- UBA, which advanced 4.43%
These gains provided significant support for the broader market. In essence,it is reinforcing the NGX’s position as one of Africa’s best-performing equity markets at the start of the year.
Bullish Sentiment Dominates Trading
Market breadth underscored the upbeat mood, standing at an impressive 4.5x, with 54 gainers against 12 losers during the session.
Top performers included CAVERTON, DEAPCAP, MTNN, ETRANZACT and PZ, all of which recorded the maximum 10 per cent daily gain. On the downside, UNIVINSURE (-6.25%), PRESTIGE (-5.81%) and REGALINS (-5.17%) led the decliners’ table.
Key Market Highlights
- Historic Milestone: The NGX crossed the ₦100 trillion market capitalisation mark for the first time on January 5, 2026, and rose above ₦106 trillion by January 14.
- Sustained Bull Run: The market recorded an 18-day consecutive rally into mid-January, extending its strong performance from 2025.
- Broad-Based Gains: Buying interest cut across banking, insurance, industrial goods, oil and gas, and consumer stocks, signalling renewed confidence in the equity market.
- Record Highs: The All-Share Index continued to post new peaks, closing the week ended January 9, 2026, with a 3.71 per cent year-to-date gain.
Investor Confidence on the Rise
Market analysts say the NGX’s strong start to 2026 reflects a combination of improving corporate fundamentals, and stabilising macroeconomic indicators. All of these are in addition to growing local and foreign investor participation.
With blue-chip stocks leading the rally and liquidity returning to the market, sentiment suggests that equities are regaining their appeal as a hedge against inflation and currency volatility.
