STOCKS: Investors gain N17.6trn in February

2026-03-02 - 05:18

...Incur N1.4trn loss last week By Peter Egwuatu The stock market has recorded significant milestones, with investors gaining N17.6 trillion in February 2026, the highest monthly gain ever in the history of the Nigerian capital market. However, the investors lost over N1.4 trillion Week-on-Week, WoW, following sustained profit-taking as cautious sentiment persists. A review of the monthly performance shows that the Nigerian Exchange Limited, NGX, market capitalisation, which represents the total value of stocks listed on the Exchange, surged significantly to N123.763 trillion in February from N106.153 trillion in January, reflecting improved confidence, sustained institutional accumulation and renewed retail participation across key sectors. The tone of trade remained optimistic throughout the February, supported by liquidity inflows, earnings-driven positioning, and improved sentiment around energy prices. Further review shows that another major performance indicator, NGX All Share Index, ASI rose sharply by 16.6% to close the February at 192,826.78 points from 165,370.40 points in January. On the fundamental side, in the month under review, earnings resilience remains a key driver. Banking stocks continue to attract positioning amid elevated interest rates, which have supported stronger net interest margins and improved profitability outlooks. Industrial names are benefiting from cost adjustments and pricing strategies that cushion inflationary pressures. Select consumer goods counters are also drawing interest based on recovery narratives and improving operational efficiencies. Meanwhile on MoM review, sustained profit taking dragged NGX market capitalisation lower, as investors lost N1.4 trillion,with cautious sentiment trailing the market. The NGX ASI, also declined W/W by 1.1% from 194,989 77 points to close at 192,826.78 points on Friday. Reacting on market development, analysts at InvestData Consulting Limited stated: “Risks remain. Inflationary pressures, exchange rate volatility, and global geopolitical uncertainties could introduce intermittent volatility. Portfolio managers are therefore adopting a more selective approach rotating capital into fundamentally sound names while trimming exposure to overheated positions.”