The Nigerian Exchange Limited (NGX) ended the week on a high note, with the All-Share Index rising from 165,370.40 points on Friday, January 30, 2026, to 171,727.49 points, while market capitalisation surged from ₦106.153 trillion to ₦110.23 trillion.

The rally was largely driven by impressive corporate earnings from major listed companies. Shares of Seplat Energy Plc, MTN Nigeria Communications Plc, Dangote Cement Plc, Lafarge Africa Plc, and Stanbic IBTC posted gains ranging between 6.4 per cent and 10 per cent, lifting the market’s year-to-date return to 10.4 per cent.

Sector performance was broadly positive: the NGX Oil & Gas Index jumped 10.9 per cent, NGX Industrial Goods advanced 4.4 per cent, NGX Banking rose 3.6 per cent, and NGX Consumer Goods increased by 1.0 per cent. The NGX Insurance Index was the only sector to register a decline, falling 2.3 per cent. Market breadth reflected strong participation, with 70 gainers outpacing 34 decliners. R.T. Briscoe topped the gainers chart with a 60.69 per cent surge, while Deap Capital Management & Trust led the losers with a 27.37 per cent drop.

Trading activity strengthened significantly, with 3.86 billion shares valued at ₦128.581 billion exchanged in 240,463 deals, compared with 3.087 billion shares worth ₦81.505 billion traded the previous week.

 The Financial Services sector dominated turnover, accounting for 56.68 per cent of total volume and 39.24 per cent by value.

Analysts at Cowry Assets Management Limited and Afrinvest Limited expect the bullish momentum to continue, driven by sustained investor interest, strong earnings results, and broad-based sectoral gains.

“Elevated trading activity and broad-based sectoral gains suggest that sentiment remains constructive,” Cowry noted. Investors remain optimistic that continued earnings releases and valuation-driven accumulation across banking, consumer goods, and industrial stocks will sustain the market’s upward trajectory in the near term.