Lagos, Nigeria – Shares of Dangote Cement rose by more than 8 percent on Monday as Nigeria’s stock market recorded a strong rally, pushing total market value to ₦111.6 trillion (approximately $74.4 billion).
Data from the Nigerian Exchange Limited (NGX) showed that the All-Share Index, which tracks overall market performance, gained 1.29 percent to close at 173,946.22 points on February 9, 2026, representing a rise of 2,218.7 points from the previous session’s close of 171,727.5 points.
Okay News reports that the advance was driven largely by gains in heavyweight stocks, with Dangote Cement climbing 8.81 percent, while other large-cap companies also recorded price increases, despite a decline in overall trading activity.
Market turnover fell to about 775 million shares traded across 65,960 deals, compared with 953 million shares exchanged in the previous session. Even so, investor demand in high-value stocks helped lift total market capitalisation to ₦111.6 trillion.
Trading by value was led by Zenith Bank, whose shares changed hands in transactions worth ₦3.4 billion (about $2.3 million). Aradel followed with trades valued at ₦2.7 billion (approximately $1.8 million), while MTN Nigeria, GTCO, and Seplat Energy also featured among the most actively traded stocks by value.
The market’s daily gain pushed its year-to-date return to 11.79 percent, as the index decisively moved above the 170,000-point level, a psychological threshold closely watched by investors.
Several mid-cap stocks posted the maximum daily price increase of 10 percent, including Chemical and Allied Products, May and Baker Nigeria, and Daar Communications. Losses were recorded in a smaller number of stocks, with Eunisell declining by 9.98 percent and Tripple G falling by 8.90 percent.
Among the most actively traded stocks by volume, Access Holdings led with 67.1 million shares exchanged, followed by Zenith Bank with 46.2 million shares and Secure Electronic Technology with 43.9 million shares.
Performance among Nigeria’s largest listed companies, often referred to as stocks worth over ₦1 trillion in market capitalisation, was largely positive. Dangote Cement led gains in this category, while Aradel and Nigerian Breweries also recorded notable increases. MTN Nigeria, however, closed marginally lower.
Banking stocks also ended the session mostly higher. United Bank for Africa, Access Holdings, Zenith Bank, and First Bank Holdings all posted gains, while GTCO recorded a slight decline.
The market’s move above 173,000 points reflects renewed bullish sentiment and growing investor confidence following a period of mixed trading. Analysts say continued interest in large-cap and selected mid-cap stocks could support further gains, although broader market volatility remains a key risk factor.
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