The Nigerian equities market closed July on a strong note, extending the bullish momentum that gathered pace in June and delivering its best performance so far this year with a 16.57% gain.
Tracked by the NGX All-Share Index, the market opened the month at 119,980.4 and recorded gains every trading week, finishing at 139,863.5 by month-end.
Investor activity gathered strong momentum as well, with 22 billion shares traded during the month, up sharply from 13.8 billion in June, marking a surge in market participation.
Market capitalization reflected this strong performance, climbing from N75.80 trillion at the start of the month to N88.4 trillion, in line with price gains across the board.
So far in 2025, the market has closed in positive territory in five of the seven months, pushing the index closer to the 140,000 mark and lifting the year-to-date performance to 35.9%.
This impressive run was driven by sustained bullish sentiment across key sectors, reinforcing confidence in the market’s upward trajectory.
Industrials lead the charge in July
The Nigerian equities market saw strong sectoral performances in July, with the Industrial Goods sector emerging as the top gainer.
Tracked by the NGX Industrial Goods Index, the sector posted a remarkable 34.28% return for the month, climbing from 3,638.2 to 4,885.2 points, supported by a trading volume of 534.2 million shares.
- Tripple Gee was the sector’s best performer, soaring 88.44%, followed by Lafarge (70.87%), Meyer (64.18%), and BUA Cement (41.51%).
- Other notable gainers included Chemical & Allied Products (31.50%), Cutix (18.90%), Austin Laz (13.59%), and Berger Paints (14.50%).
Heavyweights like Dangote Cement, BUA Cement, and Lafarge Africa (WAPCO) were key drivers of the index’s rally, accounting for a significant portion of the movement.
NGX Banking sector
The Banking sector also posted a strong performance, with the NGX Banking Index advancing 25.78% to close at 1,610.5 points from 1,280.4.
This growth was backed by robust investor interest, as the sector recorded a trading volume of 6.48 billion shares, the highest across all sectors.
- Wema Bank led the pack with a 47.16% gain, followed by UBA (40.21%), Zenith Bank (34.33%), Access Holdings (26.24%), GTCO (23.69%), FirstHoldco (24.04%), Ecobank (21.20%), and Stanbic IBTC (18.82%).
- FCMB (8.11%) and Fidelity Bank (5.25%) also posted modest advances.
NGX Insurance
The Insurance sector maintained its upward trajectory, with the NGX Insurance Index rising 17.74%, closing the month at 889.5 points from 755.5.
Trading activity was also strong, with 3.27 billion shares changing hands.
- Sovereign Trust Insurance topped the sector’s chart with a 41.04% gain, followed closely by NEM Insurance (34.08%), AIICO (33.54%), and Mansard (26.49%).
- Other gainers included Universal Insurance (25.81%), Veritas Kapital (25.74%), Regency Alliance (25.00%), Linkage Assurance (12.99%), Cornerstone Insurance (7.48%), Prestige Assurance (5.45%), and Consolidated Hallmark (5.37%).
NGX Consumer Goods sector
The Consumer Goods sector followed with a solid 11.14% gain, as the NGX Consumer Goods Index rose from 2,635.9 to 2,929.4 points. The sector recorded a trading volume of 1.1 billion shares.
- Cadbury Nigeria emerged as the top gainer with a 63.86% return, followed by McNichols (60.87%), Dangote Sugar (53.61%), NASCON (40.77%), and Unilever (40.23%).
- Other key performers included Champion Breweries (39.00%), Guinness Nigeria (33.01%), Nigerian Breweries (30.59%), Nestlé Nigeria (30.34%), Honeywell Flour (13.95%), and PZ Cussons (13.16%).
Oil and Gas sector lags behind
The Oil and Gas sector was the weakest performer in July, recording a modest 1.72% gain.
Oando led the sector with a 16.32% increase, while Aradel Holdings posted a slight gain of 3.01%. Other stocks ended July in the red.
