The Nigerian Exchange (NGX) recorded a sharp increase in trading activity in the final week of July 2026, with total market turnover climbing by 32 per cent to N404.7 billion, driven largely by strong investor interest in banking stocks and major corporate listings. Although the market closed the week lower due to profit-taking, the surge in liquidity highlights sustained investor confidence in Nigeria’s capital market and reinforces the bullish momentum that has defined much of the year.
Data from the NGX showed that investors traded 5.119 billion shares worth N404.762 billion across 285,223 deals, a significant improvement from the previous week’s 4.433 billion shares valued at N306.143 billion. Despite the impressive trading figures, the NGX All-Share Index declined by 0.84 per cent to close at 245,283.68 points, while total market capitalisation slipped by 0.79 per cent to N158.326 trillion. Even with the weekly decline, the market has delivered a remarkable 57.62 per cent year-to-date return, reflecting the resilience of Nigerian equities.
The Financial Services sector remained the undisputed engine of market activity, accounting for more than three-quarters of all shares traded. Banking giants, including First Holdco Plc, Access Holdings Plc, and newly listed AVA Capital Plc, dominated transactions, collectively contributing 2.308 billion shares worth N224.773 billion. Together, these three stocks represented 45.09 per cent of total trading volume and 55.53 per cent of market value, underscoring the continued appetite for banking and financial stocks despite broader market weakness.
Performance across market sectors, however, was mixed. While most indices ended the week in negative territory, the NGX Insurance Index, NGX Premium Index, and NGX Sovereign Bond Index recorded modest gains, showing pockets of resilience amid widespread profit-taking. On the flip side, the NGX Growth Index, NGX MERI Growth Index, NGX-AFR Bank Value Index, and NGX Consumer Goods Index posted notable losses as investors locked in profits following recent rallies. Market breadth also weakened, with 56 stocks declining compared to 33 gainers, reflecting cautious investor sentiment.
Beyond trading activity, the week witnessed significant corporate developments that further boosted market participation. Fortis Global Insurance Plc expanded its share capital through a 15 billion-share debt-to-equity conversion, while AVA Capital Plc officially debuted on the NGX Main Board through a listing by introduction. Dividend-related price adjustments for United Capital Plc, Guinness Nigeria Plc, and Nigerian Exchange Group Plc, alongside stronger performances in the Exchange-Traded Products and Fixed Income markets, highlighted the increasing depth and diversity of Nigeria’s capital market. Analysts believe continued banking sector strength and strategic corporate actions could sustain investor interest in the weeks ahead.
source: punch
