The Nigerian stock market began the trading week on a positive trajectory, recording a ₦153 billion increase in market capitalization as investor sentiment remained buoyant ahead of anticipated corporate earnings for the half-year ended June 2025.
The All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) advanced by 241.11 points, or 0.18%, closing at 131,826.77 basis points. This performance pushed the Month-to-Date (MTD) and Year-to-Date (YTD) returns to +9.9% and +28.1%, respectively.
The overall market capitalization climbed to ₦83.39 trillion, reinforcing investor confidence in the resilience and earning potential of listed firms, particularly in light of forthcoming financial disclosures.
Mixed Sector Performance
Sectoral performance was mixed. The NGX Industrial Goods Index led the gainers with a 1.5% uptick, followed by a marginal 0.1% increase in the NGX Consumer Goods Index. On the downside, the NGX Insurance Index fell 1.4%, the NGX Banking Index dropped 0.4%, and the NGX Oil & Gas Index declined by 0.1%.
Despite the positive overall market performance, market breadth closed negative, with 44 stocks declining against 31 gainers.
Top Gainers and Losers
Cutix Plc, International Energy Insurance, and NCR Nigeria emerged as the day’s top gainers, each appreciating by 10% to close at ₦4.07, ₦2.20, and ₦7.26 per share, respectively. The Initiates Plc (TIP) followed with a 9.97% gain to ₦11.03, while Caverton Offshore Support Group advanced 9.75% to ₦7.09 per share.
Conversely, Meyer Plc topped the losers’ chart with a 10% drop to ₦18.90 per share. McNichols fell 9.95% to ₦3.44, followed by Thomas Wyatt Nigeria, down 9.84% to ₦3.39. DEAP Capital Management & Trust declined 9.77% to ₦1.20, while Sovereign Trust Insurance shed 9.63%, closing at ₦1.22 per share.
Trading Volume and Activity
Total trading volume on the exchange fell sharply by 78.91%, with 706.04 million shares exchanged, valued at ₦21.56 billion, across 30,750 deals.
Access Holdings Plc led trading activity with 61.73 million shares worth ₦1.64 billion. Consolidated Hallmark Holdings followed with 43.98 million shares valued at ₦133.78 million, while Chams Holding Company recorded 38.66 million shares worth ₦118.43 million.
Other notable volumes included United Bank for Africa (UBA) with 32.89 million shares traded for ₦1.50 billion, and Zenith Bank, which saw 24.60 million shares change hands at a value of ₦1.73 billion.
Market Outlook
Analysts at Futureview Group expressed cautious optimism for the market’s near-term trajectory.
“The equities market is expected to trade slightly positive, supported by investor interest in undervalued stocks and anticipated strong earnings releases,” the firm noted.
They, however, warned that gains may be moderated by investor caution ahead of the upcoming Monetary Policy Committee (MPC) meeting and a scheduled Treasury Bills auction, both of which could divert liquidity from the equities market.
Nonetheless, the NGX ASI is projected to sustain a modest upward trend in the coming sessions, barring any negative macroeconomic surprises.
