The Nigerian All-Share Index closed lower on February 26, 2026, with a 0.41% decline. The index shed 802.4 points to settle at 193,567.8, slipping below the 194,000 mark. This downturn reflects lingering bearish action in large-cap banking stocks.

Trading activity also saw a dip, with volume decreasing to 868 million shares compared to the 1.38 billion shares exchanged in the prior session. Market capitalization followed suit, falling to N124.2 trillion across 69,310 deals, down from N124.7 trillion a day earlier. Zenith Bank and MTN led the value turnover.

Market momentum remained negative, with the All-Share Index’s year-to-date return easing to 24.39% from 24.91% recorded in the previous session.

On the gainers’ chart, buying interest remained selective. FTN Cocoa and RT Briscoe led the advance, rising 10.00% and 9.95%, respectively. Conversely, profit-taking weighed on Jaiz Bank and Ikeja Hotel, which shed 9.98% and 9.90%, respectively.

In terms of trading activity, Jaiz Bank led by volume with 78.9 million shares exchanged, followed by Japaul Gold (73.2 million), Access Holdings (66.9 million), Chams (56.8 million), and Zenith Bank (45.4 million). By value, Zenith Bank topped the chart with N4.05 billion, followed by MTN Nigeria (N3.07 billion), Lafarge (N2.89 billion), GTCO (N2.13 billion), and Aradel (N1.98 billion).

Among SWOOTs—stocks with market capitalization above N1 trillion—performance largely tilted to the downside.

In the FUGAZ banking segment, sentiment was broadly negative. First Hold Co was the only stock in the green, gaining 4.85%.

The day’s decline was largely driven by losses in large-cap stocks, particularly Lafarge, which fell 8.21%, alongside declines in major banking stocks.