The Nigerian Exchange Limited experienced a bearish turn in the final week of February, with key market indicators closing in the red amidst a significant drop in trading turnover.
According to the weekly market data, the NGX All-Share Index depreciated 1.11 per cent, closing the week at 192,826.78 points, while Market Capitalisation shed approximately 1.12 per cent to settle at N123.763tn.
Investor activity cooled significantly compared to the previous week. A total turnover of 5.494 billion shares worth N196.709bn was traded in 370,233 deals, a notable contrast to the 7.662 billion shares valued at N252.566bn that exchanged hands the prior week.
The Financial Services Industry maintained its dominance, leading the activity chart with 3.241 billion shares valued at N82.775 bn. This sector alone contributed 58.99 per cent to the total equity turnover volume. The Oil and Gas Industry followed in a distant second, while the Services Industry took the third spot.
Trading in the top three equities, Japaul Gold and Ventures Plc, Fortis Global Insurance Plc, and Zenith Bank Plc, accounted for 1.576 billion shares worth N33.46 bn, representing 28.68 per cent of the total turnover volume.
During the week, 32 equities appreciated less than 71 equities did in the previous week. Sixty-nine equities depreciated, higher than 41 equities in the previous week, while 47 equities remained unchanged, higher than the 36 recorded in the previous week.
Despite the general market dip, Fortis Global Insurance Plc emerged as the top gainer, with its share price leaping 56.67 per cent to close at N0.94. Other significant gainers included Okomu Oil Palm Plc (+20.92 per cent) and Infinity Trust Mortgage Bank Plc (+20.63 per cent). On the losing side, Associated Bus Company Plc led the decliners, shedding 25.00 per cent of its value.
A major highlight of the week was the regulatory intervention by the Exchange. Effective Monday, 23 February 2026, the NGX announced the suspension of trading in the shares of Zichis Agro-Allied Industries Plc. The move was made pursuant to Rule 7.0 of the Rulebook of the Exchange, which empowers the NGX to halt trading in the interest of the investing public.
In announcing the suspension of Zichis Agro-Allied, the NGX RegCo stated, “Trading License Holders and the investing public are hereby notified that pursuant to the provisions of Rule 7.0, Rules on Suspension of Trading in Listed Securities, Rulebook of The Exchange (Issuers’ Rules), which states that notwithstanding any of the foregoing provisions, The Exchange may, in accordance with any of its rules, place the trading of any security on suspension.” It may also do so if it is of the view that such suspension will be in the interest of the investing public and in accordance with the SEC rules. The shares of Zichis Agro-Allied Industries Plc (Zichis or the company) have been suspended from trading on the facilities of Nigerian Exchange Limited, effective today, Monday, 23 February 2026.
“The suspension of trading in Zichi’s shares shall be lifted upon the conclusion of an investigation into the trading activities of the company’s shares.”
