The Nigerian Exchange Limited (NGX) experienced a bearish trend in the final week of February, with major market indicators closing in the red amid a sharp decline in trading turnover.
The NGX All-Share Index depreciated 1.11%, settling at 192,826.78 points, while Market Capitalisation dropped about 1.12% to N123.763 trillion.
Investor activity slowed significantly compared to the previous week, with 5.494 billion shares worth N196.709 billion traded across 370,233 deals, down from 7.662 billion shares valued at N252.566 billion the week before.
The Financial Services Industry led market activity, accounting for 3.241 billion shares valued at N82.775 billion, representing nearly 59% of total equity turnover volume. The Oil and Gas and Services industries followed in second and third place, respectively.
Trading in the top three equities—Japaul Gold and Ventures Plc, Fortis Global Insurance Plc, and Zenith Bank Plc—represented 1.576 billion shares worth N33.46 billion, or 28.68% of total turnover.
During the week, 32 equities appreciated, while 69 depreciated, and 47 remained unchanged, marking a decline in market gains from the previous week. Fortis Global Insurance Plc emerged as the top gainer with a 56.67% increase, followed by Okomu Oil Palm Plc (+20.92%) and Infinity Trust Mortgage Bank Plc (+20.63%). Associated Bus Company Plc led the decliners, shedding 25% of its value.
A significant market development was the suspension of trading in Zichis Agro-Allied Industries Plc effective Monday, 23 February 2026. The NGX RegCo invoked Rule 7.0 of the Exchange Rulebook to halt trading “in the interest of the investing public.” The suspension will remain until the conclusion of an investigation into the company’s trading activities.
The week’s bearish performance highlights cautious investor sentiment as the NGX navigates market volatility and regulatory oversight.
