African equity markets opened Monday with mixed sentiment as key bourses kicked off the week amid uneven regional activity and broader global headwinds, with some indices tracking modest gains while others remained subdued in early trade.
Johannesburg leads modest gains
South Africa’s main benchmark saw a positive open on Monday, with the Johannesburg Stock Exchange All Share index rising in early hours as local investors returned from a muted close last week. Equity prices showed modest upticks driven by firms in defensive sectors, while commodities and financials provided some support. Early trading reflected a broader constructive tone against the backdrop of awaited economic data, including employment figures set for release later in the week.
East African screens mixed responses
In East Africa, the Nairobi Securities Exchange and neighbouring bourses saw cautious ordering as institutional and retail participants balanced local opportunities with thin global liquidity. Kenyan markets have been bolstered recently by innovations in retail participation, including mobile stock trading services, though volumes this Monday remained below seasonal averages.
West African activity tempered
In Nigeria and across West Africa, opening prices reflected a measured approach after strong gains in the prior week. Market watchers noted that the Nigerian Exchange Group had seen heightened activity recently, but Monday’s early moves were tempered by profit-taking and caution over currency dynamics and regional macro indicators.
Smaller exchanges reflect wider divergence
Smaller markets, including the Dar es Salaam Stock Exchange and niche centres like the Eswatini Stock Exchange, opened unchanged or with modest volume as local participation continues to build. These venues generally track regional corporate news and sovereign credit developments rather than global flows, resulting in less pronounced early movements.
Market drivers and broader context
Overall, Monday’s opening in African markets was defined by a cautious risk sentiment. Global influences — including subdued activity in some Asian markets due to regional holidays and lingering uncertainty in developed markets — contributed to selective participation. Analysts note that macro data this week, including local employment and inflation figures, could shape flows and sector leadership.
Outlook for the session
Traders are expected to remain vigilant for domestic policy signals and commodity price movements that can quickly tilt risk appetite. With several indices showing patchy gains and mixed breadth early on, the session may evolve into a broader test of investor confidence across Africa’s diversified capital markets.
Newshub Editorial in Africa – 16 February 2026
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