The Nigerian Stock Exchange closed higher on Thursday, January 29, 2026, as positive investor sentiment lifted key indices—even though trading activity slowed noticeably. Market capitalisation rose by N232 billion, climbing from N105.74 trillion to N105.97 trillion. This marks a 0.22% increase in total value.
The All Share Index also advanced, gaining 362.93 points to close at 165,527.31—up from 165,164.38 the previous day. The uptick reflects renewed confidence among investors, possibly driven by strong corporate earnings and macroeconomic optimism.
However, trading volume declined across the board. Investors exchanged 550.4 million shares in 38,635 deals, with a total turnover of N14.14 billion. Compared to Wednesday’s session, this represents a 12% drop in volume, a 14% fall in turnover, and an 8% reduction in the number of deals. In total, 131 equities traded, with 41 stocks posting gains and 27 recording losses.
RT Briscoe led the gainers, surging 10% to close at N7.15 per share. SCOA Nigeria and Deap Capital Management & Trust both rose by 9.91%. Veritas Kapital Assurance followed closely with a 9.85% gain. On the flip side, Haldane McCall dropped sharply by 9.84%, ending the day at N3.94 per share. Union Dicon Salt fell 9.79%, University Press lost 8%, and Legend Internet declined by 7.56%.
In terms of trading volume, Veritas Kapital Assurance topped the list with 56.6 million shares changing hands. Guaranty Trust Holding and Tantalizers each recorded 26 million shares traded. Japaul Gold and Ventures came next with 25.9 million shares.
This mix of rising prices and falling activity suggests selective buying—investors appear to be focusing on high-conviction stocks rather than broad market participation. Analysts note that recent corporate results, including BUA Foods’ record N508 billion profit after tax for 2025, may be fueling targeted optimism.
Still, the lower turnover warrants caution. Sustained market growth typically requires consistent participation, not just price momentum. If volume continues to shrink while indices climb, it could signal a fragile rally.
For now, the Nigerian Stock Exchange shows resilience. But market watchers will keep a close eye on whether this uptrend deepens—or fades without broader support.
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