The Nigerian stock market closed the week ended July 11, 2025, on a bullish note as the All-Share Index (ASI) gained 5,159.93 points, representing a 4.26% week-on-week growth. This marked the seventh consecutive week of gains, pushing the index from 120,989.66 to 126,149.59. The rally was mainly fueled by significant investor interest in top-tier banking stocks, with heavyweights like ZENITHBANK and UBA leading the charge.
Investor participation surged, with trading volumes increasing to 5.3 billion shares from 4.8 billion the previous week. Market capitalization followed suit, rising from N76.8 trillion to N79.8 trillion—just shy of the N80 trillion threshold. A total of 90 stocks appreciated in value, 16 declined, and 41 remained unchanged, signaling a broadly positive sentiment across the board.
The NGX Premium Index soared 8.14%, boosted by standout performances from ZENITHBANK (21.2%), UBA (19.6%), MTNN (10.5%), and ACCESSCORP (10.2%). Sector-wise, the Insurance Index led with a 13.83% gain, followed by the Banking Index at 12.49%. Conversely, the Oil and Gas Index slipped by 0.72% due to losses in OANDO and ETERNA. The Industrial and Consumer Goods sectors also posted moderate gains.
FTN Cocoa Processors emerged as the top gainer with a 60.60% rise. Other major gainers included Omatek Ventures, C&I Leasing, and Nigerian Exchange Group. On the flip side, Legend Internet Plc led the decliners, shedding 12.50%, followed by International Energy Insurance and Oando Plc. Despite these few setbacks, the week was dominated by bullish sentiment.
The week also witnessed key corporate updates. Presco Plc announced a final dividend of N42.00, GTCO debuted on the London Stock Exchange, and Geregu Power Plc released its Q2 financials. Chapel Hill Denham also reported interim earnings for its Nigeria Infrastructure Debt Fund. Looking ahead, with Q2 earnings reports on the horizon and continued investor confidence, analysts predict the ASI could sustain its rally—barring any sharp profit-taking or overbought conditions.
Source: Nairametrics