Stock Market Commence February on Positive Note as Market Cap Adds N9bn

Kayode Tokede

The Nigerian stock market yesterday commenced February 2026 trading activities on a positive note, as the major bench appreciated by 0.01 per cent.

The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 14.24 basis points or 0.01 per cent to close at 165,384.64 basis points. Also, market capitalisation rose by N9 billion to close at N106.162 trillion.

Sectoral performance was broadly negative as the NGX Insurance was down by two per cent, NGX Banking Index dropped by 0.6per cent, NGX Consumer Goods dipped by 0.4per cent and NGX Industrial Goods declined by 0.1 per cent, while the NGX Oil & Gas advanced by two per cent.

Meanwhile, market breadth was bearish, with 44 declining stocks overshadowing 29 advancing stocks. Premier Paints and Universal Insurance recorded the highest price gain of 10 per cent each to close at N11.00 and N1.32 respectively, while Daar Communications followed with a gain of 9.93 per cent to close at N1.55, per share.

R.T. Briscoe (Nigeria) up by 9.92 per cent to close at N8.64, while Morison Industries rose by 9.91 per cent to close at N10.98, per share.

On the other hand, Omatek Ventures led the losers’ chart by 10 per cent to close at N2.70, per share. AXA Mansard followed with a decline of 9.94 per cent to close at N14.31, while DEAP Capital Management & Trust declined by 9.90 per cent to close at N8.46, per share.

C & I Leasing depreciated by 9.80 per cent to close at N6.90, while Royal Exchange declined by 9.63 per cent to close at N1.97, per share.

Also, the total volume traded increased by 10.96 per cent to 762.751 million units, valued at N18.409 billion, and exchanged in 55,374 deals. Transactions in the shares of Tantalizer topped the activity chart with 88.489 million shares valued at N329.387 million. Zenith Bank followed with 40.188 million shares worth N2.873 billion, while Veritas Kapital Assurance traded 39.211 million shares valued at N92.110 million.

Universal Insurance traded 29.298 million shares valued at N38.074 million, while First HoldCo sold 27.635 million shares worth N1.134 billion.

On market outlook, a group of analysts at United Capital Plc said, “Nigerian equities are likely to trade sideways with sector rotation, as liquidity remains supportive, but investors stay selective, favouring oil & gas and insurance stocks amid profit taking in banking sector stocks.”