Bulls Charge On As NGX Extends Winning Streak by 1.39%

The bull run on the Nigerian Exchange Limited (NGX) reached historic proportions on Thursday, February 19 with the All-Share Index (ASI) crossing the 193,000-point milestone.

Despite occasional bouts of profit-taking as investors lock in gains, the market breadth remains largely positive, signaling a structural shift rather than a temporary bubble as the NGX prepares for major anticipated listings later this year.

Relentless rally on the Lagos Bourse has pushed the total market capitalisation to a staggering N123.934 trillion, fueled by a ‘liquidity tsunami’ following the National Pension Commission’s (PenCom) decision to raise equity investment limits for pension funds. The market rose by 1.39 percent on Thursday while the NGX-ASI rose to 193,073.50 points.

Key drivers of the current momentum…

Increased participation from Pension Fund Administrators (PFAs) has injected massive fresh capital into high-cap equities.

Related News

Also, strong performance reports and dividend expectations from “SWOOT” (Stocks Worth Over One Trillion) companies like Dangote Cement, MTN Nigeria, and Aradel Holdings have anchored investor confidence.

Nigerian equities currently rank among the best-performing globally in 2026, delivering circa 24.07 percent year-to-date (YtD) returns.

In 61,953 deals, investors exchanged 898,481,215 shares valued at N38.476 billion.

Okomu Oil Palm Plc rallied most, from N1,327 to N1,459.70, adding N132.70 or 10 percent while the share price of newly listed Zichis Agro Allied Industries Plc moved from N14.36 to N15.79, adding N1.43 or 9.96 percent. Investors took profit in stocks like Meyer which decreased most from N22.95 to N20.70, losing N2.25 or 9.80 percent.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.