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Investors on the Nigerian Exchange (NGX) executed major deals worth approximately N7.23 billion on Tuesday, July 7, 2026, spanning 12 separate block trades across six listed companies, boosting market recovery that started last week Friday, July 3.
The heavy block trades concentrated in the banking, oil & gas, and industrial sectors lifted the All-Share Index, which jumped 1.24% to close at 234,178.23 points, adding N1.86 trillion to market capitalisation, which closed at N152.14 trillion.
The major deals were dominated by Zenith Bank, which alone accounted for over N5.46 billion — more than 75% of the day’s total block deals valued N7.27 billion.
Zenith’s deals were sealed across six separate crosses involving 55.72 million units traded at prices ranging from N102.1 to N109.7 per share.
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But on broader market turnover, the bank recorded a total volume and value of 94.29 million units and N9.91 billion, respectively.
What the data is saying:
Tuesday’s major deals activity reflected sustained institutional interest in select large-cap names, even as headline market turnover eased from the prior session. Highlights include:
- Total Major Deals Value: approximately N7.23 billion
- Total Major Deals Volume: approximately 55.72 million units
- Number of Counters Involved: 6
- Number of Block Trades: 12
- Number of deals: 49,969.
- All-Share Index: 237,083.28 points, up 1.24%
- Total turnover value: N28.02 billion, down 15.578%
- Total trade volume: 493.67 million, down 1%
- Market Breadth: 53 gainers vs 17 losers
- Year-to-Date Return: 52.35%
Breakdown of major block trades by counter:
- Zenith Bank — 52.16 million units, approximately N5.46 billion, across five crosses at average price of N105.53 (N102.1, N102.3, N105.0, N108.55, N109.7)
- Aradel Holdings — 343,900 units, approximately N492.44 million, across three crosses at prices of N1,410.0, N1,426.0 and N1,467.0 per share.
- Airtel Africa — 93,100 units valued approximately N540.11 million, at N5,801.4 per unit
- GTCO — 3 million units valued approximately N381.3 million, at N127.1 per unit
- Seplat Energy — 25,000 units valued approximately N255.69 million, at N10,227.6 per unit
- Dangote Cement — 100,000 units valued approximately N101.5 million, at N1,015.0 per unit
More insights:
The cross deals recorded on Tuesday accounted for N7.28 billion of the day’s total turnover value of N9.91 billion, representing 73.41% of the market transaction value.
- Zenith Bank’s dominance of the major deals list was the standout feature of Tuesday’s session, with its 52.16-million-unit cross at average price of 105.53.
- The Zenith cross deals worth approximately N5.46 billion represented the single largest trade of the day and nearly 55% of total major deals value on its own.
- Airtel Africa’s single block at N5,801.4 per unit valued N540.91 million was the second-highest value trade after Zenith.
- Aradel Holdings cross deals at prices rising from N1,410.0 to N1,467.0, added up a total of 343,900 units valued at N492.443 million.
- Seplat Energy’s cross of 25,000 units valued N255.69 million (N10,227.6 per unit) was among the smallest on the list.
- GTCO and Dangote Cement rounded out the day’s activity with single crosses each, contributing a combined N482.8 million to the total major deals value.
What you should know:
Tuesday’s major deals came alongside several notable corporate developments:
- Nigeria’s Renaissance announced an oil discovery in a field formerly operated by Shell.
- Beta Glass was the subject of a mandatory takeover offer from Emerald HoldCo B.V., targeting up to 11,741,509 shares (1.96% of the company) at N590.94 per share in cash, with the offer open from July 7 to August 4, 2026.
- eTranzact traded ex-dividend following its N0.125 payout, falling from a previous close of N13.30 to N13.20.
Market analysts note that sustained block-trade activity in bellwether names like Zenith Bank and Aradel Holdings could continue to shape near-term price direction, even as headline volumes on the broader market moderate.
