Weekly Market Insight: NGX Soars as All-Share Index Gains Over 6% on Pension Fund Boost
Market Overview of the Nigerian Exchange
The Nigerian stock market concluded the trading week ending February 13, 2026, on a strong note, delivering one of its most impressive performances in months. The NGX All-Share Index (ASI) rose ahead, gaining 6.16% week on week to settle at 182,313.08 points from 171,727.49 points in the previous trading week.
The market capitalization soared similarly to close the week at N117.027 trillion, an advance of N6.797 trillion from the previous week’s close.
This notable surge in the market was driven by a policy change. The National Pension Commission (PenCom) raised the equity investment limits for pension funds, meaning pension administrators could legally put more money into Nigerian stocks. This reform unlocked fresh institutional liquidity, allowing billions of naira to flow into the market and boost equity demand.
The effect of this new wave of liquidity pushed the All-Share Index above 180,000 points at the end of the week. Improved investor sentiment across the broader economy and expectations around corporate earnings and dividends also contributed to the gain.
The NGX Premium Index lifted the market by recording an impressive gain of 10.63%, driven by double-digit gains in heavyweight stocks including MTNN (+14.32%), Seplat (+13.98%), and Lafarge Africa (+12.87%).
Sectoral Performance
All major sectors closed the week in positive territory, a key factor that helped the NGX All-Share Index jump strongly.
The NGX Oil & Gas takes the Lead, surging by 11.40% on the back of standout performances from Seplat (13.98%) and Aradel (10.78%). Moderate gains from JapaulGold (6.81%) and Oando (2.04%) also supported the sector’s performance.
The NGX Industrial Goods Index also posted a strong gain of 7.09%, driven by Lafarge Africa, Dangote Cement, and BUA Cement, posting 12.87%, 6.81% and 4.92% respectively.
The NGX Banking Index also advanced 5.84%. Both large tier-1 banks and some tier-2 lenders saw investors return to the financial services space after policy changes encouraged fresh capital inflows.
Consumer Goods Index grew by 2,95%, reflecting gains in major consumer brands. Meanwhile, the Insurance Index moved modestly higher by 0.65%
Market Breadth
Market breadth was strongly positive, with 79 stocks advanced in prices higher than 71 stocks in the prior week. 27 stocks declined while 42 stocks remained flat
Similarly, trading volume increases with 4.6 billion shares exchanged in the review week, up from 3.8 billion shares in the week before.
Market Highlight
– ASI Weekly Close: 182,313.08 points
– Month-on-month Change: 10.25%
– Year-to-Date Return: 17.16%
– Market Capitalization: N117.027 trillion
Top Gainers
- Zichis Agro Allied Industries Plc: up 60.71%
- Union Dicon Salt Plc: up 60.15%
- Daar Communications Plc: up 55.26%
- Fortis Global Insurance Plc: up 50.00%
- John Holt Plc: up 45.21%
- Red Star Express Plc: up 42.57%
Top Losers
- Abbey Mortgage Bank Plc: down 26.42%
- Sovereign Trust Insurance Plc: down 17.16%
- Ecobank Transnational Incorporated Plc: down 13.29%
- Skyway Aviation Handling Company Plc: down 11.59%
- Austin Laz & Company Plc: down 11.11%
- Guinness Nigeria Plc: down 9.97%
The NGX performance in the review week reflected powerful renewed investor confidence. With every major sector closing higher, from Oil & Gas to Banking and Industrial Goods, the rally showed a broad-based advance supported by liquidity inflows, institutional positioning, and growing optimism around corporate earnings. If momentum is sustained, higher significant levels are expected to be reached and more capital inflow into the market.
