Investors Lose N300bn as Nigerian Exchange Sheds 549 Points
Investors on the Nigerian Exchange (NGX) saw their portfolios shrink on Wednesday, January 28, 2026, as the market shed 549.4 points to close at 165,164.4, representing a 0.33 per cent decline from the previous session’s close of 165,713.8. The pullback dragged market capitalisation down to ₦105.7 trillion, a loss of about ₦300 billion compared to the previous day’s ₦106 trillion.
Despite the decline, trading activity improved, with total volume rising to 623 million shares, up from 483 million shares the day before, across 42,172 deals. The All-Share Index slipped into its first bearish turn of the week, trimming year-to-date returns to 6.14 per cent, down from 6.49 per cent.
Gains were concentrated in a handful of counters. UHOMREIT and DEAPCAP topped the gainers’ chart, each rising 9.97 per cent to close at ₦94.85 and ₦9.49, respectively. Tantalizers added 9.92 per cent to ₦3.88, while Skyway Aviation Handling Company advanced 9.91 per cent to ₦128.60. Morrison rounded out the top five gainers with a 9.90 per cent rise to ₦9.99.
On the losing side, investors in RT Briscoe and May & Baker bore the brunt of selling pressure, with shares tumbling 9.97 per cent to ₦6.50 and 9.96 per cent to ₦35.25, respectively. Ikeja Hotel fell 9.92 per cent to ₦32.25, LivingTrust Mortgage Bank dropped 9.90 per cent to ₦4.64, and eTranzact slipped 9.16 per cent to ₦17.35.
By volume, Neimeth led trading with 58.1 million shares, followed by CHAMS with 39.5 million shares and Access Holdings with 33.3 million shares. Zenith Bank and Tantalizers completed the top five, trading 32.4 million and 29.2 million shares, respectively.
In value terms, Zenith Bank dominated with transactions worth ₦2.3 billion, followed by Aradel at ₦2.2 billion, GTCO at ₦2.1 billion, MTN Nigeria at ₦1.5 billion, and Access Holdings at ₦757.4 million.
Among the heavyweight SWOOTs (stocks with market capitalisation above ₦1 trillion), sentiment tilted bearish. International Breweries declined 3.45 per cent, while MTN Nigeria shed 1.38 per cent.
The FUGAZ banking stocks posted mixed performances: First HoldCo fell 2.23 per cent, and UBA eased 0.78 per cent, while GTCO gained 0.51 per cent, Access Holdings rose 0.44 per cent, and Zenith Bank edged up 0.14 per cent.
The market’s early pullback signals cautious investor sentiment, with traders awaiting clearer direction from mid- and large-cap stocks.
Analysts say the uneven performances across sectors reflect ongoing volatility, and while trading activity has picked up, broader momentum remains constrained. The depth of the retracement will depend on how quickly bullish sentiment returns, potentially supported by positive full-year 2025 earnings results.
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