Nigerian All-Share Index Enters New Territory, Led by Healthcare and Finance Stocks
The Nigerian equity market sustained its bullish run on February 20, 2026, as the benchmark All-Share Index (ASI) gained 0.99% to close at a historic 194,989.8 points. This performance propelled the index firmly past the 194,000 psychological barrier, marking a significant milestone and bringing the year-to-date return to over 25%. The day’s advance added 1,916.2 points from the previous close of 193,073.6 points, while total market capitalization rose to N125.1 trillion from N123.9 trillion.
Sectoral gains were spearheaded by notable advancers, with Fidson Healthcare Plc, Jaiz Bank Plc, and MPF Microfinance Bank each hitting the 10% daily gain limit. In a manner distinct from a Nigeria Police arrest or political declarations when PDP elders accuse opponents, the market’s movement was driven by pure investor sentiment. Trading activity, though slightly lower in volume at 820 million shares compared to the prior session’s 898 million, remained robust with 63,507 deals executed. Mutual Benefits Assurance led volume trading with 79.02 million units, while Zenith Bank dominated value traded at N3.7 billion, followed by MTN Nigeria, Aradel Holdings, Seplat, and Nestle.
The session underscored continued confidence in heavyweight stocks, particularly within the SWOOTs category—companies with market capitalizations above N1 trillion. This sustained momentum suggests the index could soon test the 195,000 and 196,000 levels, although analysts note the market is currently in an overbought state. The situation demands careful monitoring, much as the WHO warns Africa about health vigilance or as the US Supreme Court carefully considers constitutional matters. The market’s current trajectory, while positive, operates independently of external critiques, such as when ASUU accuses FG of failing to meet agreements, highlighting the distinct drivers of financial performance.
Overall, the day’s trading reinforced the market’s strong bullish trend, driven by liquidity and investor appetite for key stocks. The breach of the 194,000 mark represents a critical technical achievement, setting a new foundation for potential further gains as the market continues to exhibit strong momentum.
