The Nigerian stock market opened the month of July in the red, extending its recent downward trajectory as the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) fell by 0.20% to close at 119,941.23 basis points.
This modest decline resulted in a N150 billion loss in market capitalization, bringing the total value of listed equities to approximately N75.8 trillion.
Despite a broadly positive market breadth—with 46 gainers against 23 losers—the dip was largely driven by persistent selloffs in heavyweight stocks such as Dangote Cement, Dangote Sugar, and Zenith Bank.
Top Gainers and Losers
Leading the day’s advancers were McNichols, RT Briscoe, Honeywell Flour Mills, and Mutual Benefits Assurance, each gaining 10%. Other notable gainers included Lasaco Insurance, Neimeth International Pharmaceuticals, Meyer Plc, Ellah Lakes, and Caverton Offshore, among others.
On the flip side, University Press Limited led the losers’ chart with a 10% price decline. Other notable laggards included:
- HMCall Holdings (-4.76%)
- Dangote Cement (-3.41%)
- Dangote Sugar (-1.78%)
- Zenith Bank (-1.58%)
- Guaranty Trust Holding Company (GTCO) (-1.23%)
Sectoral Performance
Out of the five major sectors tracked by the NGX, three closed negative:
- Industrial Goods: -3.17%
- Insurance: -2.24%
- Oil & Gas: -1.86%
However, Consumer Goods and Banking sectors posted strong gains of 31.60% and 17.99%, respectively.
Market Activity
Trading volume and value dropped sharply compared to the previous session, with:
- Volume down by 74.71%
- Value down by 75.20%
A total of 513.92 million shares valued at ₦10.99 billion were traded in 21,221 deals.
Ellah Lakes led the activity chart in terms of volume, contributing 8.76% of the total shares traded. Other actively traded stocks by volume included UACN Property Development Company, Universal Insurance, Nigerian Breweries, and Japaul Gold Ventures.
In terms of value, Nigerian Breweries emerged as the most traded equity, accounting for 15.51% of the total transaction value on the exchange.
