The Nigerian Exchange Limited (NGX) extended its bearish session on Wednesday, February 25, 2026, with the benchmark All-Share Index dipping 0.06% to close at 194,370.20 points, down from 194,484.61 points the previous day.
Total market capitalisation followed suit, contracting by N73.43 billion to settle at N124.75 trillion from N124.83 trillion, reflecting cautious investor sentiment amid selective profit realisation in key sectors.
Trading volume rose 21.0% to 1.4 billion shares, indicating heightened activity, while total value traded declined 13.4% to N46.2 billion. FTG Insurance led volume with 193.7 million units (14.1% of total turnover), while Zenith Bank dominated value with N11.1 billion worth of trades (24.0% of aggregate value).
Sectoral movements were mixed but tilted negative overall. The NGX Banking Index retreated as investors locked in gains from recent rallies in tier-one lenders. The NGX Insurance Index also declined, dragged by broad-based weakness among underwriting stocks. The NGX Oil & Gas Index slipped to 4,066.48 points amid mild profit-taking in energy names, despite pockets of demand in select downstream plays.
In contrast, the NGX Consumer Goods Index advanced, buoyed by renewed interest in food and beverage counters. The NGX Industrial Index saw a marginal retreat, as softness in cement majors offset earlier sector strength.
Market breadth remained negative, with 22 advancing stocks against 54 decliners. Top performers included Jaiz Bank, Okomu Oil Palm, and Trans-Nationwide Express, each posting near-double-digit gains. Buying interest also lifted consumer heavyweights BUA Foods and Dangote Sugar, providing some support to the broader index.
On the losing side, ABC Transport, RT Briscoe, and Skyway Aviation Handling recorded the steepest declines, while sell pressure in financial services and diversified industrial names amplified the day’s downward bias.
The session’s performance reflects a typical consolidation phase following the market’s strong run in prior weeks, with investors taking profits in recently rallied sectors while selectively accumulating in defensive and undervalued counters. Analysts note that ongoing macroeconomic stability, recent monetary policy signals, and earnings expectations continue to underpin medium-term optimism, though short-term volatility from profit-taking and sector rotation remains evident.
As the NGX maintains levels above the 194,000-point mark, attention now shifts to upcoming corporate earnings releases and any further policy cues that could influence the next directional move in Africa’s largest equities market.
