NGX Wraps Up Bullish July with N12.62tn Surge, All-Time Highs Set Ahead of Earnings Season

The Nigerian Exchange (NGX) ended July 2025 on a powerful bullish streak, with market capitalization surging by a remarkable N12.62tn. The All-Share Index (ASI) closed the month at a historic high of 139,863.67 points after climbing 0.42% on the last trading day. This marked the peak of a 21-day consecutive rally, pushing July’s month-to-date return to 17.03%, with the year-to-date gain now standing at 34.60%.

Trading activity on the last day of July was vibrant, with over 1.1 billion shares worth N32.99bn changing hands across 37,365 deals. While the turnover slightly dipped by 2% compared to the previous session, trading volume saw a 24% increase. Market breadth, however, leaned negative as 54 stocks declined against 28 gainers. UAC of Nigeria led the winners with a 10% jump, followed by strong performances from Wema Bank, Guinness Nigeria, SAHCO, and Mecure Industries.

On the flip side, The Initiates Plc topped the losers’ chart with a 10% decline. AXA Mansard, Learn Africa, FTN Cocoa Processors, Ikeja Hotel, and HMC Allied Devices all recorded sharp losses as well. In terms of volume, FCMB Group led with 121.5 million shares traded. On the value front, Lafarge Africa dominated with N3.53bn worth of transactions, closely followed by Dangote Cement, MTN Nigeria, and GTCO.

Key sector indices also posted gains, underscoring widespread investor confidence. The Top 30 Index rose by 0.5%, Industrial by 1.35%, and the Premium Index gained 1.04%. Oil & Gas, Pension, and Banking indices also inched upward. By month-end, total market capitalisation hit N88.4tn. Analysts attribute this bullish trend to investor positioning ahead of corporate earnings reports and optimism surrounding ongoing macroeconomic reforms.

Source: Punch