The Nigerian Exchange started the week on a bearish note as the market capitalisation fell by N10.9bn at the close of trading on Monday.

Data released by the exchange showed that a total of 629.57 million shares were traded in 57,840 deals, valued at N14.75bn. This represents a 17 per cent increase in trading volume, a 12 per cent decline in turnover, and a 21 per cent rise in the number of deals compared with the previous trading day, Friday, 16 January 2026.

The All-Share Index also dipped slightly, closing at 166,112.50 points, down from 166,129.50 points recorded last week, while the total market capitalisation declined from N106.353tn to N106.342tn.

A total of 130 equities were traded on Monday, with 44 gainers and 24 losers. Leading the gainers were NCR Nigeria, Champion Breweries, and Learn Africa, each recording a 10 per cent increase in share prices.

Triple Gee & Co. followed closely with a 9.94 per cent gain, while Neimeth and Morison rose by 9.90 per cent and 9.89 per cent, respectively.

On the losing side, Industrial & Medical Gases led with a 9.95 per cent drop in share price, closing at N34.85 per share. Haldane McCall and LivingTrust Mortgage Bank fell by 9.88 per cent and 9.57 per cent, respectively, while Ikeja Hotel and Union Dicon declined by 7.28 per cent and 5.26 per cent.

Notably, Nigerian Breweries lost 4.01 per cent, closing at N80.15.

In terms of volume, Secure Electronic Technology led with 83.3 million shares traded, followed by Access Holdings with 52.9 million shares, Jaiz Bank with 39.7 million shares, and Tantalizers with 34.2 million shares.

Meanwhile, the top five equities by value of trades included Zenith Bank with N1.57bn, Aradel with N1.52bn, Access Holdings with N1.21bn, GTCO with N1.21bn, and UBA with N0.70bn.

Analysts said Monday’s performance reflected cautious investor sentiment at the start of the week, despite active trading in several blue-chip stocks.