Stock Market Soars as Investors Push NGX Up by ₦396 Billion Amid Bullish Sentiment
The Nigerian stock market maintained its bullish momentum on Tuesday, July 22, 2025, adding ₦396 billion in market capitalisation as investor appetite surged across key sectors. The All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) rose by 0.71%, closing at 99,793.71 points, up from 99,088.32 points. Consequently, the total market capitalisation advanced to ₦56.49 trillion from ₦56.09 trillion.
The market rally was fuelled by significant buying interest in blue-chip stocks like Dangote Cement, BUA Cement, and MTN Nigeria. Out of 129 equities traded, 36 recorded gains while 34 declined. Dangote Sugar Refinery topped the gainers’ chart with a 10% surge, closing at ₦56.10 per share. Other notable risers included The Initiates Plc (9.97%), Sovereign Trust Insurance (9.84%), Nigerian Enamelware (9.83%), UPL (9.82%), and Cadbury (8.90%).
Despite the upward momentum, some stocks suffered losses. Ellah Lakes and Legend Internet both shed 10%, closing at ₦9.90 and ₦5.31 per share, respectively. Other losers included FTN Cocoa (-9.91%), Meyer (-9.79%), and Thomas Wyatt (-9.73%). The mix of gainers and losers underscores a cautious but optimistic investor sentiment prevailing in the market.
While prices rose, trading activity dropped notably. Volume declined by 47.7%, with 408.62 million shares exchanged in 8,256 deals, compared to 781.82 million shares in 9,246 deals the previous Friday. The banking sector was a key contributor to trading volume, led by FBN Holdings, Access Holdings, and UBA, indicating continued interest in financial stocks.
The market rally was broad-based across major indices. The Industrial Goods Index led gains, rising 2.87% week-on-week and 28.23% year-to-date. The Premium Board Index advanced by 0.61%, the Consumer Goods Index by 0.5%, and the Top 30 Index by 0.46%. Even the Insurance Index, despite a weekly loss of 4.3%, posted a 0.25% daily increase, reflecting a diverse recovery across sectors.
Source: Punch