The Nigerian Exchange Limited (NGX) ended Tuesday, February 10, 2026, on a high note, with sustained buying lifting both equities and exchange-traded products.
Investors were clearly in the mood to take positions ahead of upcoming corporate earnings and macroeconomic updates, driving the All-Share Index (ASI) up 1.65 percent to 176,809.42.
Market capitalisation continued its upward trend, with total equity standing at ₦113.5 trillion, bonds at ₦48.9 trillion, and ETFs at ₦188 billion.
A total of 1.3 billion shares changed hands, spread across nearly 59,000 deals, generating a turnover of ₦50.4 billion.
Top Gainers Highlight Investor Optimism
On the upside, government-linked FGSUK2033S6 led with a 23.32 percent jump, closing at ₦147.99.
Mid-cap and tech stocks were also strong performers:
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OMATEK surged 10 percent to ₦3.19
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DEAPCAP rose 10 percent to ₦8.25
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ETRANZACT climbed 10 percent to ₦20.35
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JOHNHOLT advanced 10 percent to ₦8.80
Market watchers noted that these gains reflect renewed institutional participation and selective accumulation in sectors expected to report strong earnings in coming weeks.
Top Losers Reflect Selective Market Pressure
Not all stocks shared the bullish sentiment.
ABBEYBDS led the decliners, dropping 9.82 percent to ₦12.40. Other notable losers included:
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SKYAVN fell 9.06 percent to ₦150.00
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GUINEAINS lost 6.67 percent to ₦1.54
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CONHALLPLC declined 6.64 percent to ₦4.50
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LIVESTOCK dropped 6.34 percent to ₦6.65
Analysts attribute these declines to profit-taking and market rotation, as investors rebalance their portfolios after a strong start to the week.
Most Active Stocks Reflect Heavy Trading Interest
Trading activity was dominated by high-volume names, signalling where market attention is concentrated:
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DEAPCAP – 283 million shares valued at ₦1.97 billion
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ACCESSCORP – 135 million shares valued at ₦3.24 billion
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VERITASKAP – 67 million shares valued at ₦150 million
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TANTALIZER – 54 million shares valued at ₦290 million
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ZENITHBANK – 52 million shares valued at ₦3.95 billion
These figures highlight investor focus on both blue-chip financials and high-turnover mid-cap stocks.
Fixed Income and Sovereign Bonds Show Stability
The sovereign bond market remained generally stable, with a few selective gains:
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FGS202780 rose 2 percent to ₦96.99
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FGS202783, FGS202797, and FGS202894 held steady at ₦90.00, ₦100.00, and ₦100.99, respectively
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FID2031S1 remained unchanged at ₦69.23
Traders indicate that the bond segment continues to attract conservative investors seeking steady returns amid volatile equity swings.
ETFs Record Solid Gains
Exchange-traded funds also recorded strong movements, with notable performers including:
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SIAMLETF40 – ₦12,320 → ₦13,552
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STANBICETF30 – ₦5,788 → ₦6,367
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VSPBONDETF – ₦811 → ₦1,265
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MERGROWTH – ₦1,100 → ₦1,210
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MERVALUE – ₦716 → ₦788
The ETF rally demonstrates investor interest in diversified baskets and fixed-income-linked products, providing a safer route for portfolio expansion.
What’s Next for the Market
Looking ahead, liquidity rotation is expected to continue across equities, bonds, and ETFs as institutional investors adjust positions for earnings announcements and macroeconomic signals.
Analysts suggest that mid-cap and financial stocks could see further inflows, while selective profit-taking may continue in high-flying counters.
Traders will also be closely monitoring sector-specific updates, particularly in banking, technology, and consumer goods, as the first-quarter earnings season unfolds.
The market’s upward momentum suggests cautious optimism, but sustained gains will depend on macroeconomic stability, investor sentiment, and corporate earnings surprises.
