Nigerian Stocks Rally as Main Index Crosses 173,000 Points

BREAKING NEWSFebruary 9, 2026 at 10:25 PM UTC

TLDR

Nigeria’s All-Share Index rose 1.29% on Feb. 9, 2026, breaking above the 173,000-point level driven by gains in large-cap stocks like Dangote Cement.
Market activity softened with a decrease in trading volume to 775 million shares across 65,960 deals, but market capitalization increased to 111.6 trillion naira.
Leading gainers included Chemical & Allied, May & Baker, and Daar Communications, while decliners included Eunisell and Tripple G, showcasing a mixed performance among stocks.

Nigeria’s All-Share Index rose 1.29% on Feb. 9, 2026, breaking above the 173,000-point level as gains in large-cap stocks lifted the market.

The index added 2,218.7 points to close at 173,946.22 from 171,727.5. Dangote Cement jumped 8.81%, providing the main support for the advance.

Market activity softened. Trading volume fell to 775 million shares across 65,960 deals, compared with 953 million shares in the previous session. Market capitalization increased to 111.6 trillion naira.

The rally pushed the market’s year-to-date return to 11.79%, confirming a clear move above the 170,000-point level.

Chemical & Allied, May & Baker, and Daar Communications rose 10% each to lead the gainers. Eunisell fell 9.98%, while Tripple G lost 8.90%.

Access Holdings led trading by volume with 67.1 million shares, followed by Zenith Bank and Secure Electronic Technology. By value, Zenith Bank ranked first with 3.4 billion naira, ahead of Aradel and MTN Nigeria.

Most large-cap stocks advanced. UBA, Access Holdings, Zenith Bank, and First Holdings gained, while MTN Nigeria and GTCO posted slight declines.

Key Takeaways

The move above 173,000 points shows renewed confidence in Nigerian equities, led by large-cap stocks. The rally came even as trading volume declined, suggesting price gains were driven by selective buying rather than broad participation. Heavyweights such as Dangote Cement and key banking stocks played a central role. This highlights the influence of a small group of stocks in setting market direction. The rise in year-to-date returns to nearly 12% may attract more institutional interest, especially if gains in large caps continue. However, lower volumes point to cautious positioning among investors. Short-term focus is likely to remain on stocks with strong liquidity and earnings visibility. A sustained hold above current levels could support a move toward 175,000 points, but profit-taking risks remain high. For investors, the trend favors disciplined exposure to leading names while monitoring market depth and turnover for signs of broader participation.

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