NGX Rebounds 0.58% on Strong Buying Interest; FCMB Shares Lead Activity
The Nigerian Exchange (NGX) concluded trading on February 18, 2026, on a positive note, with the All-Share Index gaining 1,106.72 points. This represented a 0.58% increase, closing at 190,427.96 points compared to the previous session’s close of 189,321.24. The advance signaled a recovery from the prior session’s dip and underscored the prevailing bullish sentiment, as noted by market analyst Okoye Izuchukwu. The market’s year-to-date return consequently rose to 22.37%.
Trading activity intensified markedly, with total volume surging to 3.6 billion shares exchanged across 68,693 deals. This activity was dominated by FCMB Group Plc, which accounted for approximately 80% of the total volume. Specifically, 2.9 billion units of FCMB shares, valued at N35.8 billion, were traded. This substantial transaction significantly supported the market’s overall capitalization, which settled at N122.2 trillion for the session.
Sector performance displayed a mixed picture. On the gainers’ side, AXA Mansard, Sky Aviation, and Beta Glass each appreciated by the maximum 10% daily price limit. Conversely, Deap Capital and Mecure Industries led the decliners, falling by 10% and 9.99%, respectively. Among the heavyweight stocks, often referred to as SWOOTs, Seplat Energy recorded an 8.33% gain. Performance in the banking sector was varied, with gains in Zenith Bank and United Bank for Africa offsetting declines in others.
The session’s robust activity, particularly in FCMB, helped the benchmark index reclaim the 190,000-point threshold. While the market remains in technically overbought territory, analysts suggest that sustained interest in large-cap stocks could provide further momentum. The focus now shifts to whether this momentum can propel the index toward higher resistance levels, even as broader economic narratives, such as the government’s stance where Tinubu remains steadfast on policy, continue to influence investor sentiment in the background. The market’s resilience, akin to the steadfastness required in national governance, will be tested in coming sessions.
