The Nigerian stock market extended its bullish run on Monday, February 9, 2026, with the All-Share Index (ASI) climbing 1.29 per cent to break above the 173,000-point mark, driven largely by strong gains in heavyweight stocks, including Dangote Cement.
The benchmark index advanced by 2,218.7 points, rising from 171,727.5 points to close at 173,946.22. Dangote Cement led the rally among large-cap stocks, jumping 8.81 per cent as investor interest returned to blue-chip counters.
Despite the market’s strong performance, trading activity weakened. Total volume traded fell to 775 million shares across 65,960 deals, compared with 953 million shares recorded in the previous session.
Market capitalisation edged higher to N111.6 trillion, supported by significant value trades in stocks such as Zenith Bank and Aradel, which recorded transactions worth N3.4 billion and N2.7 billion, respectively.
The day’s gain lifted the ASI’s year-to-date return to 11.79 per cent, reinforcing bullish sentiment as the index decisively crossed the 170,000-point threshold.
On the gainers’ chart, Chemical & Allied Products, May & Baker, and Daar Communications posted the maximum daily gain of 10 per cent. In contrast, Eunisell and Tripple G led the losers, shedding 9.98 per cent and 8.90 per cent, respectively.
Access Holdings topped the volume chart with 67.1 million shares traded, followed by Zenith Bank with 46.2 million shares and Secure Electronic Technology with 43.9 million shares. Veritaskap and Mutual Benefits rounded out the top five by volume.
By value, Zenith Bank led market transactions at N3.4 billion, ahead of Aradel (N2.7 billion), MTN Nigeria (N2.4 billion), GTCO (N1.7 billion), and Seplat (N1.5 billion).
Performance among SWOOTs stocks with market capitalisation above N1 trillion was broadly positive. Dangote Cement posted the strongest gain, followed by Aradel, which rose 2.78 per cent, and Nigerian Breweries, up 2.66 per cent. MTN Nigeria, however, dipped slightly by 0.02 per cent.
Among FUGAZ banking stocks, UBA gained 1.36 per cent, Access Holdings rose 0.87 per cent, Zenith Bank added 0.41 per cent, and First Holdings increased 0.21 per cent. GTCO closed marginally lower, shedding 0.05 per cent.
Market analysts say the ASI’s move above 173,000 points signals renewed investor confidence after a period of mixed trading. Large-cap stocks, particularly Dangote Cement, Aradel, Nigerian Breweries and major banking names, played a key role in driving the rally.
Looking ahead, sustained buying interest in both large-cap and select mid-cap stocks could see the market extend its gains and potentially consolidate above the 175,000-point level in the near term, although investors are advised to remain cautious amid ongoing volatility.
Source: Nairametrics