The Nigerian Exchange Limited (NGX) began July on a bearish note, wiping off N150 billion from investors’ portfolios on Tuesday, July 1, 2025. Market capitalisation fell from N75.95 trillion on Monday to N75.8 trillion, following renewed profit-taking activities by investors after June’s strong rally. The All-Share Index dropped by 237.34 points to settle at 119,741.23, trimming the week-to-date performance to a slight 0.04% loss. However, the market still boasts a 7.09% gain over the last four weeks and a robust 16.34% year-to-date return.
Trading activity took a significant hit compared to the previous session. Total volume dropped by 63% to 527.08 million shares, while turnover fell by 74% to N11.28 billion. The number of deals also slipped by 14%, totaling 21,546 trades. This steep decline in activity suggests that investors are adopting a more cautious stance following a month of strong performance.
Despite the overall market decline, several stocks posted strong gains. Honeywell Flour Mill led the winners with a 10% surge to N23.65, closely followed by RT Briscoe, McNichols, and Mutual Benefits Assurance, which also rose 10% each. Other notable gainers included LASACO and Meyer, highlighting strength in mid-tier equities. On the other end, University Press saw the steepest decline, shedding 10% to close at N5.04, while SCOA Nigeria, Thomas Wyatt Nigeria, and PZ Cussons also posted significant losses.
In terms of market activity, Ellah Lakes dominated in volume with 46.05 million shares traded, trailed by UPDC and Universal Insurance. However, Nigerian Breweries led in value terms, accounting for N1.74 billion worth of transactions, indicating institutional investor interest in heavyweight stocks.
Sectoral performance was mixed. The Consumer Goods Index led the pack with a 31.6% increase, while the Banking Index also recorded solid growth at 17.99%. The Top 30 and Pension indices followed with 6.8% and 9.59% gains, respectively. Conversely, the Premium Index dipped by 0.92%. Although several sectors showed resilience, the broader market sentiment leaned toward caution, marking a shaky start to the second half of 2025.
Source: Punch