The Nigerian Exchange (NGX) opened 2026 with robust gains, as its All-Share Index soared 6.27% in January to close at a record 165,370.4 points, decisively breaking above the 160,000-point mark for the first time in history.
This bullish momentum was broadly driven by investor enthusiasm across sectors, with the Oil and Gas industry grabbing the spotlight as the month’s top performer.
Okay News reports that the NGX Oil & Gas Index led the charge with a remarkable 13.80% gain, fueled by significant rallies in major players like Aradel Holdings, which rose 16.45%, and Seplat Energy, which climbed 15.34%.
The strong start signals continued investor confidence following the market’s 51.19% return in the previous year, 2025, with over 15 billion shares exchanged during the month.
The Insurance sector followed closely as the second-best performer, with its index rising 11.76% on the back of standout gains from companies like Veritas Kapital and Mutual Benefits Assurance.
The Banking index also posted a solid 6.99% increase, led by strong performances from tier-one banks including Zenith Bank and Guaranty Trust Holding Company (GTCO).
Despite a mild pullback in the final two weeks, the market’s advance was broad-based, with the Industrial Goods and Consumer Goods indices also posting gains of 5.45% and 3.21%, respectively.
Analysts note that the market’s strong start positions it for an interesting year, though the current overbought condition suggests the potential for a corrective dip, especially among large-cap stocks that have driven much of the recent growth.
 opened 2026 with robust gains, as its All-Share Index soared 6.27% in January to close at a record 165,370.4 points, decisively breaking above the 160,000-point mark for the first time in history.){kind=link}