The Nigerian stock market delivered a breathtaking performance in the weekend 21 February 2026, with broad-based gains lifting major indices and spotlighting some of the best performing Nigerian stocks available today. Investors experienced sustained buying interest as equities across financials, industrials, consumer sectors, and niche small-caps outperformed, contributing to strong market breadth and renewed optimism in Africa’s largest equities market.
In this market wrap-up, we break down the week’s performance drivers, highlight the biggest gainers, and offer perspective on what these results mean for investors and the market outlook.
Improved Version: Bullish Momentum Propels NGX to New Weekly Highs
The Nigerian Exchange All-Share Index (ASI) experienced a significant boost this week, closing at 194,989.77 points. This marks a strong 6.95% week-on-week gain, reinforcing the market’s upward momentum and growing investor confidence.
Market capitalization also climbed, increasing to approximately ₦125.2 trillion from ₦117 trillion the previous week. This reflects rising valuations across various sectors.
In total, 71 equities gained value during the week, slightly fewer than the previous week, while 41 declined and 36 remained unchanged. This broad market participation suggests that gains were not limited to blue-chip stocks but extended across a wide range of equities.
Key Drivers of the Market Rally
1. Sector-Wide Strength
Investors showed interest across multiple sectors, driving widespread gains:
- NGX Industrial Goods Index: Led the charge with a remarkable 10.10% increase, driven by companies like BUA Cement, Lafarge, and Dangote Cement. These firms benefited from rising demand and positive sentiment tied to infrastructure and construction.
- NGX Oil & Gas Index: Followed closely with an 8.66% weekly gain, as stocks like Aradel and Seplat delivered double-digit returns.
- Broader Indices: The NGX Consumer Goods Index and NGX Banking Index also posted gains, highlighting the market’s diverse strength.
This broad-based rally indicates healthy market dynamics, as gains were not concentrated in a single sector. Such widespread participation reflects growing investor confidence in Nigeria’s equity market.
Top Performing Nigerian Stocks of the Week
Here are the standout gainers that delivered exceptional returns:
- Zichis Agro-Allied Industries Plc: Up 60.74% to ₦17.36, leading the pack with impressive growth in the agriculture sector.
- JapaulGold & Ventures Plc: Up 60.16% to ₦4.02, a small-cap stock that attracted significant buying interest.
- Infinity Trust Mortgage Bank Plc: Up 59.09% to ₦15.75, reflecting growing investor interest in financial services.
- Fortis Global Insurance Plc: Up 53.85% to ₦0.60, showcasing strong performance in the insurance sector.
- Jaiz Bank Plc: Up 32.53% to ₦11.00, benefiting from the banking sector’s overall strength.
- Red Star Express Plc: Up 30.67% to ₦31.95, as logistics stocks gained traction amid economic recovery.
- Custodian Investment Plc: Up 27.96% to ₦70.25, highlighting resilience in asset management.
- Mutual Benefits Assurance Plc: Up 26.05% to ₦5.42, further evidence of strong demand in the insurance space.
- NASCON Allied Industries Plc: Up 24.07% to ₦164.95, signaling robust demand for consumer staples.
- Presco Plc: Up 21.86% to ₦2,315.40, delivering solid returns in the agro-industrial sector.
Market Risks: Weekly Laggards
Despite the bullish trend, some stocks underperformed:
- RT Briscoe Plc: Down 20.78% to ₦13.80, standing out as a notable laggard.
Understanding these underperformers is crucial, as they may present future opportunities if their fundamentals remain strong or highlight risks that require caution.
Investor Sentiment and Market Trends
Bullish Sentiment Prevails
This week’s strong performance reflects sustained investor confidence, supported by positive domestic drivers and sector rotation. Year-to-date returns exceeding 25% underscore the growing interest from both institutional and retail investors.
Key Takeaways for Investors
- Diversification Pays: Gains spanned multiple sectors, from banking and industrials to agriculture and logistics, emphasizing the importance of a diversified portfolio.
- Cyclical Strength: Industrial and financial stocks benefited from macroeconomic trends like increased construction activity and improved capital allocation.
- Liquidity and Momentum: Higher liquidity in small-cap stocks triggered rapid rallies, offering both short-term trading opportunities and long-term growth potential.
Conclusion: Insights from the Week
For the week ending February 21, 2026, the Nigerian stock market demonstrated robust growth, driven by broad sector participation and strong performances from key stocks. The diverse list of best performing Nigerian stocks highlights the market’s depth, spanning agro-industrials, banks, logistics, and insurance.
Whether you’re a long-term investor focused on valuations or a trader seeking momentum, this week’s results show that Nigeria’s stock market remains a fertile ground for returns. However, disciplined analysis and risk management are essential to navigate potential challenges.
As always, balance short-term gains with thorough research and a clear understanding of your risk tolerance before making investment decisions.
