Market contextThe Nigerian equities market posted a strong rebound in February 2026, with the NGX All-Share Index rising 16.60 % to close at 192,826.8 points the highest closing level in history and total trading volume surpassing 21 billion shares for the month.
Gains were broad-based, with 85 stocks advancing and 34 declining, supported by strong investor appetite across multiple sectors.
Capitalisation rose to about ₦123.7 trillion, extending the market’s winning streak to three consecutive positive months.
Nairametrics Top 10 Performers – February 2026 (Percent change MoM)(Price moves refer to month-end closing relative to end-January levels.)
1. Fortis Global Insurance Plc – +370.00 %Insurance counter posted the highest return in February, lifting sharply from low base pricing and capturing speculative and value-driven flows.
2. Zichis Agro-Allied Industries Plc – +314.32 %Newly listed and thinly traded stock surged on momentum trading, with shares rising multifold from early month levels before trading was suspended temporarily by the NGX for investor protection due to extreme price moves.
3. Infinity Trust Mortgage Bank Plc – +111.11 %MTG/BANK segment saw strong performance as interest in mortgage finance exposure picked up.
4. WatchUnion Dicon Salt Plc – +89.71 %Consumer-oriented industrial stock rebounded strongly, supported by higher turnover volumes during the month.
5. R T Briscoe Plc – +59.16 %Diversified industrial name saw renewed speculative interest and broad gains across trading sessions.
6. Julius Berger Nigeria Plc – +58.24 %Blue-chip construction stock advanced on robust FY 2025 earnings growth and strong sectoral sentiment.
7. Japaul Gold & Ventures Plc – +58.20 %Mid-cap industrial/gold logistics stock continued its rally, boosted by turnover increases and optimistic trading dynamics.
8. Jaiz Bank Plc – +57.88 %Tier-2 banking stock led gains within the financials segment, benefiting from renewed investor confidence post-earnings. �
9. Custodian Investment Plc – +54.55 %Financial services/investment firm recorded strong month-on-month gains reflecting improved earnings outlook and equity market re-rating.
10. Red Star Express Plc – +53.61 %Logistics/courier services stock closed the top 10 after a solid recovery and renewed demand during the mid-month trading weeks.
Patterns and drivers• Small- and mid-cap names dominated the list, particularly in insurance, industrial, and financial segments, reflecting a mixture of speculative trading and fundamental re-rating in the early 2026 market cycle.
Several companies with extraordinary returns (e.g., Zichis Agro-Allied and Fortis Insurance) were previously at low price bases and experienced explosive percentage changes due to thin-book trading.
Broader market strength was underpinned by robust sectoral activity in banking, industrial goods, and oil & gas indices that also contributed to overall index performance, although heavyweight blue-chips were not the primary drivers of the top gains list.
Source : Nairametrics
