The Nigerian stock market continued its impressive upward momentum in the week ended July 18, 2025, as the All-Share Index soared by a remarkable 5,436.07 points to close at 131,585.66.
This performance represents a 4.31% gain from the previous week’s close of 126,149.59, making it Customs Street’s strongest week so far this year and extending the winning streak to eight consecutive weeks.
The rally was accompanied by stronger investor participation, as weekly trading volume increased to 5.9 billion shares from 5.3 billion shares in the previous week.
In tandem with the index’s rise, the market capitalization swelled to N83.2 trillion, a sharp increase from N79.8 trillion the week before.
- However, market breadth painted a more mixed picture, with only 49 stocks recording gains, down sharply from 90 in the previous week.
- On the flip side, the number of decliners rose to 54 from just 16, while 44 equities remained unchanged.
Despite the decline in the number of advancers, the market’s heavyweights carried the day.
- Significant gains in BUA Cement and Dangote Cement, two of the index’s heavyweights, played a pivotal role in driving the rally.
Market overview:
The Nigerian stock market traded for four sessions during the week, closing each day in positive territory. Tuesday, July 15, was observed as a public holiday in honor of the late former President Muhammadu Buhari.
- Monday opened with a modest gain, setting the tone for the week.
- Bullish momentum intensified on Wednesday as the All-Share Index broke past the 128,000 mark.
- The index crossed the much-anticipated 130,000 threshold on Thursday.
- Friday closed with a solid 1% gain, sealing a strong finish to the week.
Key highlights
- The NGX Premium Index recorded a 6.97% jump, driven by strong rallies in DANGOTE CEMENT, FIRSTHOLDCO, and ACCESSCORP.
- The NGX 30 Index advanced by 4.63%, while the NGX Main Board Index posted a 2.92% gain.
Sectoral performance
- The Industrial Goods Index was the standout performer, surging 19.17%, largely on the back of a 31.28% gain in BUA CEMENT and 16.47% in DANGOTE CEMENT.
- The NGX Banking Index followed with a 5.36% increase, driven by STANBIC IBTC (+18.38%) and FIRSTHOLDCO (+16.47%), with additional support from sub-10% gains in ACCESSCORP, UBA, ZENITH, and ETI.
- The Consumer Goods Index rose 1.34%, led by NESTLÉ NIGERIA, which jumped 20%.
On the flip side, the NGX Insurance Index and NGX Oil & Gas Index declined by 3.65% and 0.76%, respectively.
Top gainers
Leading the pack among gainers was EUNISELL INTERLINKED PLC, which soared 32.59% week-to-date, marking a standout performance. BUA CEMENT followed closely with a 31.28% gain.
Other major gainers included:
- Associated Bus Company Plc: up 28.41% to N5.65
- Industrial & Medical Gases Nigeria Plc: up 24.85% to N42.45
- Secure Electronic Technology Plc: up 21.00% to N1.21
- Tripple Gee and Company Plc: up 20.67% to N4.32
- Nestle Nigeria Plc: up 20.00% to N1800.00
- Stanbic IBTC Holdings Plc: up 18.38% to N99.50
- CAP Plc: up 17.29% to N71.90
- Dangote Cement Plc: up 16.47% to N495.00
Top losers
ACADEMY PRESS PLC led the laggards, falling 24.32% week-to-date. RT BRISCOE PLC followed, down 22.73%, amid profit-taking and weak sentiment in select sectors.
Other notable decliners included:
- Cutix Plc: down 19.57% to N3.70
- Caverton Offshore Support Group Plc: down 19.25% to N6.46
- Champion Brew Plc: down 17.52% to N12.29
- Consolidated Hallmark Holdings Plc: down 17.36% to N3.00
- Universal Insurance Plc: down 17.24% to N0.72
- Legend Internet Plc: down 16.43% to N5.85
- Ellah Lakes Plc: down 14.49% to N10.80
- University Press Plc: down 13.43% to N5.80
Corporate actions overview
The week was marked by a series of notable corporate updates and announcements:
- Prestige Assurance Plc announced the passing of its Executive Director, Mr. Deepak Pal.
- Aradel Holdings Plc appointed an interim Chairman.
- Seplat Energy Plc announced that its half-year financial results will be released on July 30, 2025.
- FirstHold disclosed that Barbican Capital Limited had sold 6,314,116,229 units of its shares at N31 per share.
- FirstHold also issued a clarification denying rumors that Femi Otedola had acquired the shares in question.
Market outlook
The Nigerian equities market ended the week on a strong note, with the All-Share Index closing above the 130,000-point threshold.
If the market is not perceived as overbought and investors do not remain on the sidelines awaiting the flood of Q2 2025 earnings results, the index could make a push toward the 135,000 mark in the near term.
