Stock Market Extends Gains as ASI Crosses 160,000 Points Mark
- The stock market extended its bullish momentum on Thursday, January 8, with the All-Share Index closing higher on sustained buying interest
- Gains were driven by strong demand for mid- and large-cap stocks across the healthcare, industrial, and consumer sectors
- May & Baker and Multiverse led the gainers, while CHAMS and Access Holdings ranked among the most actively traded stocks
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian exchange extended its positive run on Thursday, January 8, 2026, as sustained buying interest in mid- and large-cap stocks pushed the market higher.
The benchmark NGX All-Share Index (ASI) gained 0.13% during the session, driven by strong rallies in major stocks.
Source: Getty Images
Snapshot of the market
At the close of trading, the ASI advanced to 160,806.56 points from 160,591.76 points recorded in the previous session.
Investors’ wealth increased by N137.35 billion, with total market capitalisation closing at N102.82 trillion.
Despite the positive close, market sentiment remained negative, as 31 stocks declined, led by International Energy Insurance, while 40 stocks advanced, with Neimeth Pharmaceuticals topping the gainers’ chart.
Volume and value contribution Market activity weakened, with total trading volume declining by 55.22% to 645.06 million shares valued at N16.45 billion across 44,410 deals.
CHAMS recorded the highest trading volume with 60.46 million shares, accounting for 9.37% of total volume. Zenith Bank led in traded value at N1.51 billion, representing 9.15% of total value traded.
Linkage Assurance and Tantalizers accounted for 8.39% and 6.97% of total trading volume, respectively, while Seplat Energy and Unilever followed Zenith Bank in terms of value traded.
Top gainers
- FGS UK 2031 S4 surged by 15.31% to close at N89.99
- Neimeth Pharmaceuticals gained 10.00% to N7.70
- May & Baker rose by 9.85% to N26.20
- eTranzact advanced by 9.64% to N13.65
- Multiverse climbed by 9.51% to N21.30
Top losers
- International Energy Insurance shed 9.90% to close at N2.73
- ABC Transport declined by 9.88% to N4.47
- Austin Laz fell by 9.84% to N4.58
- Conoil dropped by 9.72% to N169.00
- Veritas Kapital lost 9.69% to N1.77
Source: Getty Images
Most active stocks
- CHAMS led activity with 60.46 million shares worth N236.82 million
- Linkage Assurance traded 54.11 million shares valued at N97.62 million
- Tantalizers exchanged 44.96 million shares worth N129.71 million
- Access Holdings recorded 35.52 million shares valued at N815.42 million
- Champion Breweries traded 31.29 million shares worth N519.09 million
Elumelu to get richer after new deal
Earlier, Legit.ng reported that billionaire entrepreneur Tony Elumelu is set to further expand his wealth and influence after becoming the largest shareholder in Seplat Energy Plc through a $496 million acquisition.
Elumelu, via his investment vehicle Heirs Holdings and its subsidiary Heirs Energies Ltd, acquired a 20.07% equity stake in Seplat Energy from French oil firm Etablissements Maurel & Prom S.A. (M&P), according to a regulatory filing on the Nigerian Exchange shared on Wednesday, December 31.
The deal, completed after market close on December 30, 2025, saw M&P sell its full 120.4 million shareholding in Seplat at 305 pence per share.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
