February 2026 marked a surge in confidence on the Nigerian Exchange.
The All-Share Index climbed 16.60% to 192,826.8 points, edging closer to the 200,000 milestone.
This was the third straight monthly gain since November 2025’s dip and the strongest monthly performance since January 2024’s 35.28% rally.
Confidence Returns To The Nigerian Exchange Market
Over four trading weeks, the index closed the first three weeks in positive territory.
It crossed 194,000 points in the penultimate week before a mild 1.11% decline in the final week.
So far this year, the market is up 23.91%, with investors trading more than 36 billion shares.
Oil, Industrial Stocks Drive Rally
Oil and gas stocks led February’s gains.
The NGX Oil and Gas sector jumped 33.63%, climbing from 3,038.8 to 4,060.7 points.
Aradel and Seplat drove large-cap gains, while Japaul Gold surged 58.20% in mid-caps.
Eterna and Oando strengthened the sector’s advance.
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Industrial goods stocks rose 22.20%, breaking the 7,000-point barrier to close at 7,314.6.
Cement producers Lafarge, Dangote Cement, and BUA Cement powered the rally.
Other stocks, including Chemical & Allied, Berger Paints, Beta Glass, Austin Laz, and Cutix, supported gains.
Banks Join Broad-Based Advance
The NGX Banking sector gained 16.67%, closing at 1,892.1 points, with over 7.6 billion shares traded.
Tier-one banks Zenith Bank, First HoldCo, GTCO, Access Holdings, and UBA led gains.
Tier-two banks Jaiz Bank, FCMB, and Sterling added further momentum.
Consumer goods rose 6.51%, led by mid-caps like Nascon, Nestlé Nigeria, McNichols, and PZ Cussons.
Insurance stocks trailed, up just 2.31%, led by Universal Insurance and AXA Mansard.
Overall, the market rallied broadly, with both large- and mid-caps contributing.
The All-Share Index nears 200,000, but overbought conditions suggest a short-term pullback may create opportunities.
