Nigerian Exchange Records Robust 6.16 Percent Weekly Gain as Investors Drive Strong Market Participation Across Key Sectors in Lagos

If there was any doubt about where sentiment was heading, last week settled it.

The Nigerian Exchange Limited wrapped up trading for the week ended February 13, 2026, with unmistakable bullish energy.

Investors showed up in force, and prices responded accordingly.

By the closing bell on Friday, the NGX All-Share Index had jumped 6.16 percent, climbing from 171,727.49 to 182,313.08.

That’s a hefty 10,585.59-point gain in just five trading sessions.

Market capitalisation followed suit, swelling to ₦117.027 trillion — a clear reflection of renewed appetite for equities.

Liquidity Surges as Investors Dive In

It wasn’t just about rising prices; activity on the floor was loud and busy.

Investors exchanged 4.652 billion shares valued at ₦193.326 billion in 286,751 deals.

Compare that with the previous week’s 3.860 billion shares worth ₦128.581 billion in 240,463 deals, and you get a sense of how sharply participation accelerated.

Such a spike in turnover often signals institutional positioning rather than just retail enthusiasm.

When volumes and values rise together like this, it usually means big players are making calculated moves.

Financial Stocks Dominate the Action

Unsurprisingly, the Financial Services Industry carried the heaviest weight in market activity.

The sector accounted for 2.782 billion shares valued at ₦74.063 billion across 104,325 deals.

That translates to nearly 60 percent of total traded volume and over 38 percent of total traded value.

Banking and financial stocks have historically been the pulse of the NGX, and last week was no exception.

The Services Industry came next with 573.189 million shares worth ₦7.177 billion, while Consumer Goods stocks recorded 317.667 million shares valued at ₦24.027 billion.

This broad participation across sectors underscores confidence that extends beyond a single industry theme.

A Day-by-Day Look at the Momentum

The daily numbers tell an interesting story.

• February 9: 775.06 million shares worth ₦27.86 billion

• February 10: 1.30 billion shares worth ₦50.42 billion

• February 11: 939.05 million shares worth ₦34.00 billion

• February 12: 698.30 million shares worth ₦28.40 billion

• February 13: 936.25 million shares worth ₦52.63 billion

Friday stood out with the highest transaction value at ₦52.63 billion.

It suggests that investors were not backing down as the week closed — often a sign of confidence heading into a new trading cycle.

Exchange Traded Products Join the Rally

The ETP segment also witnessed a notable lift.

A total of 8.741 million units valued at ₦1.544 billion changed hands in 7,784 deals, a strong improvement from the prior week’s 2.421 million units worth ₦438.466 million.

Among the most actively traded were STANBICETF30, VETGRIF30, VETINDETF, and VSPBONDETF.

The renewed activity in ETPs reflects investors seeking diversified exposure amid rising equity prices.

Bonds See Softer Tone

While equities soared, the bond market cooled slightly.

Transactions declined compared to the previous week, and the NGX Sovereign Bond Index slipped marginally by 0.01 percent.

This subtle weakness hints at portfolio rebalancing.

Investors may be trimming fixed-income exposure in favour of higher-yielding equity opportunities, especially with dividend season approaching.

Indices Flash Green Across the Board

Performance across indices painted a picture of strength:

• NGX Premium Index rose 10.63 percent

• NGX Oil & Gas Index gained 11.40 percent

• NGX AFR Div Yield Index climbed 11.58 percent

• NGX Consumer Goods Index advanced 2.95 percent

• NGX Banking Index increased 5.84 percent

• NGX Industrial Goods Index moved up 7.09 percent

The gains were not isolated. From oil and gas to banking and industrials, the rally spread wide — a sign of coordinated sector rotation rather than narrow speculation.

Winners Outnumber Losers

Market breadth improved further.

A total of 79 equities posted gains, up from 71 the week before.

Decliners dropped to 27 from 35, while 42 stocks closed flat.

Among the standout gainers were Zichis Agro Allied Industries, Union Dicon Salt, DAAR Communications, Fortis Global Insurance, John Holt, Red Star Express, R T Briscoe, eTranzact International, Secure Electronic Technology, and CAP — some of them delivering eye-catching double-digit advances.

On the flip side, Abbey Mortgage Bank led the decliners’ chart, followed by Sovereign Trust Insurance, Ecobank Transnational Incorporated, Skyway Aviation Handling Company, Austin Laz, Guinness Nigeria, CWG, Tripple Gee, International Energy Insurance, and Champion Breweries.

Such volatility in individual counters shows that while the overall tone was bullish, stock selection still mattered.

New Bond Listings Add Fresh Options

Two new bond instruments hit the market during the week, including the Lagos State Government Series 3 ₦14.815 billion 5-Year 16% Green Bond due November 2030, as well as Lagos State Government Series 4.

Green bonds, in particular, continue to gain attention globally as investors increasingly factor environmental sustainability into portfolio decisions.

Lagos State previously issued Nigeria’s first subnational green bond back in 2017, marking its ongoing participation in climate-linked financing.

Why the Rally Matters

This surge isn’t happening in isolation.

Nigeria’s equity market has experienced waves of strong rallies over the past two years, often driven by banking recapitalisation expectations, currency reforms, and dividend anticipation.

Institutional inflows appear to be rotating toward premium and dividend-yielding stocks.

With inflation dynamics, monetary policy adjustments, and macroeconomic reforms shaping investor thinking, equities are once again becoming the preferred battleground.

What’s Next?

Attention now turns to earnings releases and dividend declarations.

Historically, the first quarter often sets the tone for the year, especially as audited financials begin to flow in.

If liquidity remains strong and macro signals stay supportive, the rally could extend further.

However, selective profit-taking is likely, particularly in counters that have posted rapid gains.

Investors will also keep an eye on bond yields, foreign exchange stability, and policy signals from regulators.

Any surprise shifts could trigger repositioning.

Summary

The Nigerian Exchange closed the week ended February 13, 2026, with a solid 6.16 percent gain, driven by strong participation, rising liquidity, and sector-wide advances.

Financial stocks dominated volumes, ETP activity strengthened, and market breadth improved significantly.

While the bond segment softened slightly, overall sentiment remains upbeat.

With earnings season around the corner and institutional flows gaining momentum, the market heads into the new week with optimism — though not without an eye on profit-taking and macroeconomic shifts.