The Nigerian All-Share Index closed in the red on 17 February 2026, shedding 941.2 points to settle at 189,321.24, weighed down largely by declines in Tier-one banking stocks.
The 0.49% drop brought an end to the market’s 11-day winning streak, which had pushed the benchmark index above the 190,000 mark in the previous session.
Despite the pullback, trading activity strengthened, with total volume rising to 1.19 billion shares from 1.07 billion shares recorded the day before, across 86,607 deals.
Market capitalization slipped from N122.1 trillion on Monday to N121.5 trillion on Tuesday, with Zenith Bank recording the highest value of trades at N8 billion.
What the data is saying
Market momentum turned bearish as the All-Share Index slipped below the 190,000 mark, closing at 189,321.24, signaling a pause in the recent upward drive.
On the gainers’ chart, buying interest remained selective, with ABC Transport and Zichis leading the advance, rising by 9.94% and 9.93% respectively.
On the flip side, profit-taking weighed on Sky Aviation, Mecure Industries, and Zenith Bank, each shedding 10%.
In terms of activity, Access Holdings Plc led by volume with 103.4 million shares traded, while Zenith Bank topped the value chart at N8 billion, ahead of Aradel Holdings.
Top 5 gainers
- ABC Transport — up 9.94% to N9.07
- Zichis — up 9.93% to N13.06
- Red Star Express— up 9.87% to N29.50
- Meyer — up 9.81% to N22.95
- Japaul Gold — up 9.78% to N3.03
- Infinity Trust Mortgage — up 9.68% to N11.90
Top 5 Losers
- Sky Aviation — down 10.00% to N117.00
- Mecure — down 10.00% to N93.60
- Zenith Bank — down 10.00% to N80.55
- RT Briscoe— down 9.95% to N14.12
- Tripple Gee— down 9.77% to N6.00
- AXA Mansard — down 8.77% to N15.50
SWOOTs and FUGAZ performance
Among SWOOTs—stocks with market capitalisation above N1 trillion—performance was mixed but tilted to the downside, as Lafarge Africa fell 4.04%, International Breweries declined 4.00%, and MTN Nigeria shed 3.81%.
Fidelity Bank also slipped 2.35%, and Aradel Holdings eased 0.25%.
- On the positive side, BUA Foods advanced 5.77%, while Dangote Cement recorded a modest gain of 0.16%.
In the FUGAZ banking segment, sentiment was broadly negative, with Zenith Bank tumbling 10.00%, UBA declining 6.56%, Access Holdings losing 4.63%, and GTCO shedding 2.33%.
- The only bright spot within the FUGAZ cohort was First HoldCo, which edged higher by 0.41%
What to know
The Nigerian Exchange paused its bullish run as Tier-one banking stocks closed in the red—except for First HoldCo Plc—dampening overall market sentiment.
- Investors appear to be reassessing market direction after a more than 7,000-point rally in the previous session, amid overbought signals.
- Further weakness in the next session could trigger either a shallow or deeper retracement, with the extent of the pullback depending on how far prices ease from current levels.
