The Nigerian All-Share Index powered to a 1.29% gain on the trading day that ended 9th February 2026, smashing the 173,000-point threshold.
This was a 2,218.7-point jump from an opening of 171,727.5 points to close at 173,946.22, as bullish momentum swept through large-cap counters, with Dangote Cement soaring 8.81%.
The rally came despite a drop in market activity, with volume declining to 775 million shares across 65,960 deals, down from 953 million shares exchanged on Friday.
Market capitalization also edged higher, reaching N111.6 trillion, with Zenith Bank and Aradel, which posted trading values of N3.4 billion and N2.7 billion, respectively.
What the data is saying
The ASI’s strong daily gain lifted its year-to-date return to 11.79%, as the market decisively breached the 170,000-point level.
On the gainers’ chart, Chemical & Allied, May & Baker, and Daar Communications each posted the maximum 10% increase. On the other hand, Eunisell and Tripple G recorded losses of 9.98% and 8.90%, respectively.
Access Holdings led trading by volume with 67.1 million shares exchanged, followed by Zenith Bank (46.2 million) and Secure Electronic Technology (43.9 million). Veritaskap (N39.3 million) and Mutual Benefits (N33.8 million) completed the top five by volume.
By value, Zenith Bank topped the chart with transactions worth N3.4 billion, ahead of Aradel (N2.7 billion), MTN Nigeria (N2.4 billion), GTCO (N1.7 billion), and Seplat (N1.5 billion).
Top 5 Gainers
- Chemical & Allied — up 10.00% to N90.20
- Daarcomm — up 10.00% to N2.09
- May & Baker — up 10.00% to N43.45
- RT Briscoe — up 9.98% to N13.89
- Secure Electronic Technology — up 9.97% to N150.00
Top 5 Losers
- Eunisell — down 9.98% to N134.85
- Tripple G — down 8.90% to N6.65
- Abbey Mortgage — down 8.03% to N13.75
- Austinlaz — down 7.41% to N5.00
- HmCall — down 6.56% to N3.99
SWOOTs and FUGAZ
Performance among SWOOTs (stocks worth over N1 trillion) was largely bullish.
Dangote Cement led the gains, rising 8.81%, followed by Aradel (+2.78%) and Nigerian Breweries (+2.66%).
- On the other hand, MTN Nigeria dipped slightly by 0.02%.
Among FUGAZ banking stocks, UBA rose 1.36%, Access Holdings gained 0.87%, Zenith Bank added 0.41%, and First Holdings edged up 0.21%.
- GTCO, however, slipped 0.05%.
Why this matters
The ASI’s climb above 173,000 points shows strong bullish momentum and growing investor confidence after a period of mixed trading.
Large-cap SWOOT and FUGAZ stocks like Dangote Cement, Aradel, Nigerian Breweries, UBA, and Zenith Bank led the gains, underlining the role of top stocks in driving the market.
For investors, the upward trend offers opportunities, particularly in large-cap and select mid-cap stocks, though caution is still needed given ongoing market volatility.
Market Outlook
The All-Share Index’s break above the 173,000-point level signals strong upward momentum and renewed optimism, especially among large-cap stocks.
If buying interest persists in both large-cap and select mid-cap counters, the index could continue its rally and consolidate above the 175,000-point mark in the near term.
