Nigerian Stock Market Maintains Bullish Momentum with Strong First Day Performance
The Nigerian equities market extended its bullish run on Monday, February 23, 2026, with the benchmark All-Share Index (ASI) advancing by 0.65% to close at 196,263.55 points. This represents a significant gain from the previous session's close of 194,989.77 points, continuing the positive trend observed in recent trading periods.
Market Performance and Investor Gains
Investors opened the new trading week with substantial gains totaling N804.56 billion, pushing the year-to-date (YTD) return to an impressive 26.12%. Despite the overall positive performance, market breadth closed slightly bearish with 34 decliners against 33 gainers, indicating some selective profit-taking amid the broader upward trend.
The market's advance was primarily driven by strong performances across key sectors, particularly insurance, oil & gas, and consumer goods stocks. These sectors demonstrated resilience and attracted significant investor interest throughout the trading session.
Top Performers and Sector Analysis
Leading Gainers: FTG Insurance Plc and Okomu Oil Palm Company Plc topped the gainers' chart, both recording 10.00% increases. FTG Insurance rose from N0.60 to N0.66, while Okomu Oil Palm advanced from N1,459.70 to N1,605.60. Other notable gainers included Fidson Healthcare Plc (+9.90%), Nigeria Police Force Microfinance Bank Plc (+9.89%), and Infinity Trust Mortgage Bank Plc (+9.84%).
Major Decliners: On the losing side, Taj Sukuk Investment Company Plc led with a 13.59% decline, falling from N99.41 to N85.90. Total Insurance Plc and Lotus Halogen Investment Company Plc both recorded 10.00% losses, while Deap Capital Management Plc (-9.97%) and Living Trust Mortgage Bank Plc (-9.92%) also experienced significant declines.
Trading Volume and Most Active Stocks
A total of 1.29 billion shares worth N31.50 billion were exchanged in 95,091 deals, indicating robust trading activity. Japaul Gold & Ventures Plc led the volume chart with 473.98 million shares valued at N1.97 billion, followed by Chams Plc (51.52 million shares worth N221.26 million) and Jaiz Bank Plc (48.27 million shares valued at N566.90 million).
Other actively traded stocks included NSTelcom Plc with 46.34 million shares worth N68.76 million and Mutual Benefit Assurance Plc with 42.45 million shares valued at N242.50 million.
Market Context and Broader Implications
The sustained bullish performance reflects growing investor confidence in the Nigerian equities market, supported by positive economic indicators and corporate developments. The market's ability to maintain upward momentum despite mixed breadth suggests underlying strength in key sectors and selective investor positioning.
This trading session's results contribute to the broader narrative of Nigeria's financial market resilience, with the ASI's consistent gains demonstrating the market's capacity to absorb volatility while delivering value to investors. The performance across insurance, oil & gas, and consumer goods sectors highlights areas of particular investor interest and potential growth opportunities in the current economic landscape.
