Nigeria’s stock market extended its 2026 bullish trajectory in the week ending Friday, 6 February 2026, as major listed equities recorded strong price advances. The NGX All-Share Index (ASI) soared by 3.84 percent, adding 6,357.10 points to settle at 171,727.50, propelled by broad gains across key market segments.
Investor participation strengthened alongside the price rally, lifting trading volumes to 3.86 billion shares exchanged in nearly 240,500 deals, up from 3.08 billion in the previous week. Market capitalisation expanded by approximately 3.8 percent to ₦110.2 trillion, reinforcing the market’s rebound after recent tepid trading.
Market Breadth Signals Broad Participation
Market breadth skewed positive for the week, with 71 counters advancing, surpassing the 44 gainers recorded the prior week. On the downside, 35 stocks declined, an improvement from 49 losers previously, while 42 equities closed flat.
The index posted gains on every trading day of the week, decisively breaching resistance levels at 167,000 points. The week commenced with a modest uptick of 0.01 percent on Monday and continued ascending through mid-week and into Friday’s close.
Heavyweights
The NGX Premium Index was the primary driver of the weekly upswing, jumping 6.80 percent, with strong performances from several key stocks:
- Seplat Energy Plc: +10.00 percent
- MTN Nigeria Communications Plc: +8.41 percent
- Dangote Cement Plc: +7.09 percent
- Lafarge Africa Plc: +6.37 percent
- First HoldCo: +4.44 percent
- Zenith Bank Plc: +3.57 percent
- Access Holdings Plc: +1.77 percent.
Other major indices also trended higher. The NGX 30 Index recorded a 3.83 percent gain, while the Main Board Index climbed 2.25 percent for the week.
Sectoral Performance
The market’s sectoral performance reflected widespread improvements, with most segments ending the week in positive territory:
- The NGX Oil & Gas Index led sectoral gains with a 10.88 percent increase, buoyed by a 15.36 percent surge in Aradel Plc and a 10.00 percent rise in Seplat.
- The NGX Industrial Goods Index climbed 4.36 percent, bolstered by Dangote Cement and Lafarge Africa’s rallies.
- Mid-cap stocks such as Austin Laz & Company Plc and Berger Paints Nigeria Plc saw impressive gains of 38.46 percent and 15.00 percent, respectively.
- The Banking Index increased 3.57 percent, while smaller names such as Abbey Mortgage Bank Plc and LivingTrust Mortgage Bank Plc posted notable advances.
- The Consumer Goods Index edged up 1.01 percent, although the Insurance Index slipped by 2.33 percent, the only sector to finish in the red.
Top Gainers of the Week
Several stocks delivered standout performance for the period:
- RT Briscoe Plc: +60.69 percent to ₦12.63
- Zichis Agro Allied Industries Plc: +60.38 percent to ₦6.72
- Abbey Mortgage Bank Plc: +59.04 percent to ₦14.95
- Union Dicon Salt Plc: +49.14 percent to ₦13.05
- Austin Laz & Company Plc: +38.46 percent to ₦5.40
- Daar Communications Plc: +34.75 percent to ₦1.90
- The Initiates Plc: +30.10 percent to ₦19.45
- Fortis Global Insurance Plc: +30.00 percent to ₦0.26
- LivingTrust Mortgage Bank Plc: +26.91 percent to ₦5.14
- Julius Berger Nigeria Plc: +26.81 percent to ₦230.80.
Stocks That Lagged During the Week
At the same time, the following counters underperformed:
- Deap Capital Management & Trust Plc: -27.37 percent to ₦6.82
- UH Real Estate Investment Trust: -26.99 percent to ₦69.25
- Red Star Express Plc: -17.55 percent to ₦17.15
- UPDC Real Estate Investment Trust: -12.29 percent to ₦7.85
- Cornerstone Insurance Plc: -12.24 percent to ₦5.45
- Omatek Ventures Plc: -12.00 percent to ₦2.64
- Sunu Assurances Nigeria Plc: -11.89 percent to ₦4.52
- AXA Mansard Insurance Plc: -10.01 percent to ₦14.30
- Chams Holding Company Plc: -8.20 percent to ₦4.59
- Lasaco Assurance Plc: -7.76 percent to ₦2.26.
Corporate News That Shaped the Week
The market witnessed several corporate actions and disclosures that contributed to investor sentiment:
- Full-year 2025 earnings results were released by companies including Honeywell Flour Mills Plc, Sterling Holdings Plc, Beta Glass Plc, and Oando Plc.
- Access Bank Plc appointed Ifeyinwa Osime as new Chairman, while Royal Exchange Plc confirmed Ikeme Osakwe as its Chairman.
- Full-year financials were also reported by Consolidated Hallmark Insurance Plc, Neimeth Pharmaceuticals Plc, Transcorp Hotels Plc, and CWG Plc.
- Austin Laz & Company Plc announced strategic growth discussions with BMT Industries to support its expansion plans.
- Additional full-year results were disclosed by TotalEnergies, Ellah Lakes Plc, International Breweries Plc, eTranzact Plc, Aradel Plc, Cadbury Nigeria Plc, Vitafoam Nigeria Plc, ABC Transport Plc, Jaiz Bank Plc, AIICO Insurance Plc, and Conoil Plc.
- Ecobank Nigeria Plc, Transcorp Power Plc, Fortis Global Industries Plc, and Skyway Aviation Handling Company Plc also provided performance updates.
Implications for Investors
The robust weekly advance underscores renewed bullish sentiment in the Nigerian equities space, led by heavyweight stocks and broad market participation. With the ASI breaching the 171,000 mark and year-to-date gains exceeding 10 percent, market watchers suggest opportunities for both short-term trades and strategic medium-term positioning.
