The Nigerian equities market sustained its positive momentum on January 6, 2026, with the All-Share Index (ASI) rising by 732.9 points, representing a 0.46% increase to close at 159,951.1 points. Meyer and JaizBank emerged as the top performers, driving the market's upward trajectory. Trading activity witnessed an improvement during the trading session.

What you should know

The All-Share Index (ASI) is a market capitalization-weighted index of all the companies listed on the Nigerian Exchange Limited (NGX). It serves as a benchmark for measuring the overall performance of the Nigerian stock market. A rise in the ASI generally indicates increased investor confidence and positive market sentiment.

This positive start to the year follows a period of mixed performance in the latter half of 2025. Recall that the market experienced volatility due to various economic factors, including fluctuating oil prices and exchange rate pressures. The current rally suggests a potential rebound in investor sentiment, possibly driven by renewed optimism regarding the country's economic outlook.

Meyer Plc and Jaiz Bank's leading performance likely reflects specific positive developments within those companies or their respective sectors. Investors often react favorably to company-specific news such as strong earnings reports, new product launches, or strategic partnerships. Analyzing the individual performance drivers of these companies can provide valuable insights into the broader market trends.

Market implications

The positive movement in the All-Share Index suggests a renewed appetite for Nigerian equities. This could be attributed to a variety of factors, including increased foreign investment, improved domestic liquidity, or positive macroeconomic data releases. Market watchers will be closely monitoring upcoming economic indicators and corporate earnings reports to assess the sustainability of this upward trend.

This means that investors should carefully evaluate their portfolio allocations and consider potential opportunities within the Nigerian equities market. However, it is important to conduct thorough due diligence and assess the risks associated with individual stocks before making any investment decisions. Diversification remains a key strategy for mitigating risk in any investment portfolio.

Investors should pay close attention to trading volumes and market breadth to gauge the strength and breadth of the rally. A sustained increase in trading volumes alongside broad-based participation across different sectors would provide a more solid foundation for continued market growth. Conversely, a narrow rally driven by only a few stocks might indicate a less sustainable trend.