Nigerian stock market gains N4.08 trillion in early February 2026 as NGX All-Share Index climbs, driven by strong earnings and broad investor participation

The Nigerian stock market closed the first trading week of February 2026 on a strong note, with the All-Share Index and market capitalisation rising by N4.08 trillion, signalling continued investor optimism.

Also read: Nigerian Stock Market Downturn Wipes Off ₦4.6trn

The Nigerian Exchange Limited (NGX) All-Share Index moved from 165,370.40 points on Friday, January 30, 2026, to 171,727.49 points by the end of the week, while market capitalisation increased from N106.153 trillion to N110.23 trillion.

The rally was driven by impressive corporate earnings from key listed firms. Stocks such as Seplat Energy Plc, MTN Nigeria Communications Plc, Dangote Cement Plc, Lafarge Africa Plc, and Stanbic IBTC recorded gains ranging from 6.4 per cent to 10 per cent, boosting the market’s year-to-date return to 10.4 per cent.

Sector performance remained broadly positive, with the NGX Oil & Gas Index advancing 10.9 per cent, NGX Industrial Goods up 4.4 per cent, NGX Banking rising 3.6 per cent, and NGX Consumer Goods increasing by 1.0 per cent.

The NGX Insurance Index was the only sector to decline, dropping 2.3 per cent. Market breadth reflected broad participation, with 70 gainers outweighing 34 decliners.

R.T. Briscoe led the gainers chart with a 60.69 per cent increase, while Deap Capital Management & Trust led the decliners with a 27.37 per cent loss.

Trading activity strengthened significantly, with 3.860 billion shares valued at N128.581 billion exchanged in 240,463 deals, compared with 3.087 billion shares worth N81.505 billion in the previous week.

The Financial Services sector dominated trading, accounting for 56.68 per cent of total turnover by volume and 39.24 per cent by value.

Analysts from Cowry Assets Management Limited and Afrinvest Limited expect the bullish trend to continue, supported by sustained investor interest, strong earnings results, and broad-based sectoral gains.

“Elevated trading activity and broad-based sectoral gains suggest that sentiment remains constructive,” Cowry noted.

Also read: Nigerian Stock Market Rebounds with N465bn Gain

Investors are optimistic that continued earnings releases and valuation-driven accumulation across banking, consumer goods, and industrials will maintain the market’s upward trajectory in the near term.