NGX Reverses Movement As Market Cap Rises by N232 Billion
- Nigerian stock market reverses its previous day loss to close higher, with market capitalisation rising by N232bn
- Data shows All-Share Index improved despite a drop in trading activity, as total volume decline
- After trading on Thursday, RT Briscoe and SCOA led the gainers, while Haldane McCall and Union Dicon Salt topped the losers’ chart
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.
Investors on the Nigerian Exchange (NGX) recorded gains on Thursday, January 29, 2026, as positive market sentiment lifted key indicators, despite a slowdown in trading activity.
Source: Getty Images
The total market capitalisation increased by N232 billion, rising from N105.74 trillion on Wednesday, January 28, to N105.97 trillion, representing a 0.22% gain.
Similarly, the NGX All-Share Index (ASI) advanced by 362.93 points, climbing from 165,164.38 to 165,527.31, Punch reports.
Trading activity, however, weakened compared with the previous session as a total of 550.40 million shares valued at N14.14 billion were exchanged in 38,635 deals.
This reflected a 12% decline in volume, a 14% drop in turnover, and an 8% decrease in the number of deals. Overall, 131 equities participated in the session, with 41 gainers and 27 losers.
Top gainers
RT Briscoe led the gainers, rising by 10.00% to close at N7.15 per share. SCOA Nigeria followed closely with a gain of 9.91% to N31.60, while Deap Capital Management & Trust advanced by 9.91% to N10.43.
Veritas Kapital Assurance also posted strong gains, climbing 9.85%.
Other notable gainers included:
- FGSUK2032S5, which rose by 10.00% to ₦110.00.
- LotusHal15, up 9.98% to ₦121.00.
Top losers
On the losing side, Haldane McCall led the laggards, declining by 9.84% to close at N3.94 per share. Union Dicon Salt shed 9.79% to N8.75, while University Press dropped by 8.00% to N5.75.
Legend Internet also recorded losses, falling by 7.56% to N5.50.
Meanwhile, FGSUK2031S4 posted the biggest decline, losing 19.00% to close at N81.00.
Source: Getty Images
Most active stocks
In terms of volume traded, Veritas Kapital Assurance topped the chart with 56.60 million shares exchanged. Guaranty Trust Holding Company (GTCO) followed with 26.03 million shares, closely trailed by Tantalizers with 26.03 million shares and Japaul Gold and Ventures with 25.88 million shares.
By value, GTCO led trading, with transactions worth N2.57 billion. Cutix recorded trades valued at ₦464.85 million, while Veritas Kapital Assurance, Tantalizers, and Japaul Gold also featured prominently.
Banks rush to meet CBN’s capitalisation
Earlier, Legit.ng reported that with about days left until the March 31, 2026 deadline for Nigeria’s banking sector recapitalisation, banks are working against time to meet the CBN’s minimum requirements.
There are suggestions that several banks could be forced to close if they are unable to meet the deadline.
CBN Governor, Olayemi Cardoso, recently confirmed that several lenders have either met or exceeded the new capital thresholds.
Source: Legit.ng
