February 11, 2026/InvestmentOne Report

The Nigerian equities market commenced the year on a positive note, with the All-share index advancing by 6.27% MoM to close at 165,371.77 points in January. The rally was primarily driven by strong buying pressures in MTNN (+2,280.28pts), SEPLAT (+962.90pts), DANGCEM (+813.68pts), WAPCO (+665.60pts) and ZENITHBANK (+556.42pts) which more than outweighed the losses in FIRSTHOLDCO (-191.18pts), IKEJAHOTEL (-36.84pts), FCMB (-34.55pts), CONOIL (-23.19pts) and FIDELITYBK (-21.29pts).

We maintain a positive outlook for February market performance, especially as the 2025 earnings season comes into full swing amid expectations for higher dividends and stronger margins. Additionally, the monetary policy committee (MPC) of the CBN is expected to hold its first policy meeting of the year this month, our expectation for the committee s decision is tilted towards a hold with a leeway a modest interest rate cut which could further support risk appetite and sustain positive equity market performance in the month.

Kindly find HERE, our report, covering our analysis and considerations.