How N35.8bn Block Trade Lifts NGX 0.58% as Investors Swap 3.6bn Shares

The Nigerian Exchange (NGX) rebounded strongly on 18 February 2026, advancing 1,106.72 points to close at 190,427.96 as renewed buying interest swept across key counters on Customs Street.

The 0.58 per cent gain from the previous close of 189,321.24 signalled a return of bullish sentiment, with the benchmark index reclaiming the 190,000 threshold and pushing year-to-date returns higher to 22.37 per cent.

Trading activity surged markedly, with investors exchanging 3.6 billion shares in 68,693 deals, compared with 1.19 billion shares in the prior session. Market capitalisation rose to N122.2 trillion, underscoring improved risk appetite.

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A single banking stock dominated activity, accounting for roughly 80 per cent of total traded volume as 2.9 billion shares valued at N35.8 billion changed hands, significantly influencing turnover and overall market direction.

On the gainers’ chart, AXA Mansard, Sky Aviation Handling Company, and Beta Glass each appreciated by the maximum 10 per cent daily limit, reflecting strong investor demand. Other notable advancers included Zichis and Japaul Gold.

Conversely, Deap Capital Management led the losers, declining by 10 per cent, followed closely by Mecure Industries, which shed 9.99 per cent. Other laggards included Vitafoam Nigeria, Union Dicon Salt, and Abbey Mortgage Bank.

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In value terms, heavyweights such as Zenith Bank, MTN Nigeria, Seplat Energy, and PZ Cussons Nigeria featured prominently behind the day’s largest trade.

Among large-cap stocks with market capitalisation above N1 trillion, Seplat Energy gained 8.33 per cent, while International Breweries rose 2.78 per cent. Wema Bank slipped 0.92 per cent, emerging as the sole decliner in that category.

Within the tier-one banking segment, sentiment was mixed. Zenith Bank advanced 3.91 per cent, United Bank for Africa rose 1.51 per cent, and First HoldCo added 0.52 per cent. However, Access Holdings declined 2.91 per cent, while Guaranty Trust Holding Company eased 1.07 per cent, moderating gains in the sector.

The NGX Banking Index, which had fallen 3.69 per cent in the previous session, rebounded 0.67 per cent, helping to stabilise the broader market. Although the All-Share Index remains in overbought territory, sustained strength in large-cap counters could propel the benchmark towards the 191,000 and 192,000 resistance levels in the near term.