Investment experts at Bancorp Securities Limited, one of Nigeria’s stockbroking and investment consultancy services providers, have projected that based on the recent indices in the nation’s capital market, trading in the equities market is expected to remain positive this week, aided by improving investor sentiment and increased trading activity following the sustained gains recorded in recent weeks.
The experts, in the firm’s ‘Weekly Stock Recommendation 19th January 2026 – 23rd January 2026’ circulated to our correspondent on Monday, maintained that while intermittent profit-taking may emerge after the recent rally and moderate gains, overall market direction would likely remain constructive, with investor activity expected to stay selective and driven by stock-specific fundamentals.
They recalled that last week, the domestic equities market sustained its bullish momentum, closing firmly in positive territory despite a mild pullback on the fourth trading day of the week.
During the week, the NGX All-Share Index advanced by 2.36% w/w to close at 166,129.50 points, up from 162,298.08 points in the prior week, lifting the year-to-date return to 6.76% just as the market capitalisation rose by 2.48% to N106.35 trillion, reflecting broad based price appreciation and continued positive investor sentiment, with mid-week gains strong enough to absorb.
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The experts further noted that last week, the market breadth remained positive, though slightly softer than in the previous week, as 80 equities recorded price gains compared to 84 previously, while 17 equities declined, down from 22 in the prior week as 50 equities closed flat, higher than the 42 recorded previously.
In addition, the trading activity strengthened notably, with total turnover rising to 4.61 billion shares valued at N130.64 billion across 263,439 deals, compared with 4.16 billion shares worth N94.03 billion traded in 248,254 deals in the preceding week, pointing to increased participation by both institutional and retail investors.
On the outlook for the broader economy, the analysts maintained that recent macroeconomic developments pointed to easing underlying inflation pressures alongside incremental improvements in growth expectations and financial system credibility as 2026 begins.
According to the experts, the revised inflation data showed moderation in food and core prices, while upgraded growth forecasts signalled a more broad-based recovery driven by services and agriculture.
They added that regulatory reforms in the capital market and Nigeria’s removal from the EU’s high-risk financial crime list further supported confidence, although continued underperformance in crude oil production remained a constraint on fiscal revenues and foreign exchange inflows.
