Aradel Dominates with ₦14.2bn Turnover as NGX All-Share Index Slips Below 195,000 Amid Profit-Taking Wave
The Nigerian equities market posted a notable setback on Tuesday, 24 February 2026, as the Aradel trades ₦14.2 billion on NGX as All Share Index slips below 195,000 , headline captured investor attention with the headline stock dominating turnover even amid broad market weakness.
Market Retreat Breaks Winning Streak
After a strong start to the week, the Nigerian Exchange Limited (NGX) All Share Index (ASI) witnessed its first decline of the week, pulling back sharply from an earlier positive performance and slipping below the psychologically significant 195,000 point mark to close at 194,484.60 points. This marked a loss of 1,779 basis points on the day.
The downturn signalled the end of a recent bullish stretch, as profit-taking intensified following weeks of above-average gains in large-cap stocks. Prior to this session, the ASI had rallied strongly even advancing nearly 7 % in the week ending 20 February 2026 driven by heavy buying in banking, industrial, and energy names.
Aradel Tracks High Value Activity
Despite the market’s overall negative close, Aradel Holdings Plc emerged as the standout in trading activity, with shares valued at ₦14.2 billion exchanged the highest by value on the day.
This remarkable turnover highlights investor interest in mid cap counters, even when broader market sentiment turns cautious. Aradel’s leadership by value was followed by heavy participation in other major stocks such as Zenith Bank (₦6.1 billion), MTN Nigeria (₦3.5 billion), Guaranty Trust Holding Company (₦3.38 billion) and Dangote Cement (₦3.3 billion).
Selective Buying and Profit-Taking Pressures
Market breadth skewed negative as profit-taking absorbed earlier gains across several popular stocks. While some counters recorded solid performance on the day with double digit percentage gains – Jaiz Bank (+10.00 %) and Infinity Mortgage Bank (+9.83 %) among them others finished sharply lower due to sell-offs.
Major decliners included:
- Tantalizers Plc — down 10 %
- DAAR Communications Plc — down 10 %
- BUA Foods — down 9.99 %
- Ellah Lakes Plc — down 9.96 %
- RT Briscoe — down 9.95 %
The broad sell-off underlined investors’ preference for locking in gains after extended rallies, especially in stocks that had exhibited relatively strong performances in prior sessions.
Trading Volume and Market Capitalisation Trends
Trading activity remained resilient overall, though down from the previous session. A total of 1.13 billion shares changed hands, spread across 72,218 deals. Even with this slight pullback in volume, the market continued to demonstrate sustained investor participation.
However, the slide in share prices also nudged market capitalisation below the ₦125 trillion mark, with the total equity market value settling at approximately ₦124.8 trillion by the close.
Market Context: January Contraction Signals Caution
This latest move comes on the back of recent data showing NGX trading activity contracted sharply in January 2026, compared to December, with total transactions falling by roughly 37.6 % month on month. While year-on-year activity remains elevated, the drop suggests heightened volatility and intermittent liquidity among investors.
Analysts have noted that such episodes of profit taking particularly after sustained rallies are typical in mature market cycles and can present strategic entry or re-entry points for medium- to long-term investors.
Looking Ahead
Market watchers will be closely monitoring whether the NGX can regain upward momentum in subsequent sessions. While the breach of the 195,000 psychological level carries short-term bearish implications, selective interest in high-value stocks like Aradel suggests confidence remains within specific segments of the market.
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