NGX Investors Trade N306bn as Market Capitalisation Nears N160tn

Investors traded shares worth N306.14 billion on the Nigerian Exchange (NGX) last week, as sustained buying interest pushed the market capitalisation closer to the N160 trillion mark and extended the bullish momentum in the equities market.

The latest weekly market report released by the NGX showed that a total of 4.433 billion shares valued at N306.143 billion exchanged hands in 255,589 deals, representing a significant increase from the 2.819 billion shares worth N182.499 billion traded in 226,729 deals in the previous week.

According to the report, the Financial Services sector remained the engine of market activity, accounting for 3.422 billion shares worth N207.21 billion in 117,545 deals.

“The Financial Services Industry (measured by volume) led the activity chart with 3.422 billion shares valued at N207.206 billion traded in 117,545 deals, thus contributing 77.18% and 67.68% to the total equity turnover volume and value respectively,” the Exchange said.

The Consumer Goods sector ranked second with 201.98 million shares worth N17.17 billion, while the Information and Communications Technology (ICT) industry recorded 169.48 million shares valued at N21.19 billion during the week.

The report also highlighted strong investor appetite for banking stocks, noting that First Holdco Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc dominated trading activity.

“Trading in the top three equities, namely First Holdco Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc (measured by volume), accounted for 2.151 billion shares worth N170.793 billion in 44,768 deals, contributing 48.51% and 55.79% to the total equity turnover volume and value respectively,” NGX stated.

The sustained trading activity translated into further gains for the broader market.

“The NGX All-Share Index and Market Capitalization appreciated by 1.60% and 1.61% to close the week at 247,357.40 and N159.588 trillion respectively,” the report said.

Sectoral performance was largely positive, with the Banking Index leading the gains after rising 8.35 per cent during the week. Other notable performers included the Consumer Goods Index, which advanced 6.30 per cent, the Industrial Goods Index (5.01 per cent), the Premium Index (4.00 per cent) and the Insurance Index (3.86 per cent). However, the Consumer Goods, Lotus II, Growth, Sovereign Bond and Commodity indices closed lower.

Market breadth also strengthened as 57 equities appreciated in price during the week, compared with 44 gainers in the previous week. Thirty-eight stocks declined, while 51 equities closed unchanged.

Among the top-performing stocks, UPDC Real Estate Investment Trust emerged as the biggest gainer with a 33.33 per cent appreciation, followed by First Holdco Plc, which gained 25.59 per cent. Other notable gainers included Unilever Nigeria, Cadbury Nigeria, AXA Mansard Insurance, BUA Cement and Access Holdings.

On the losers’ chart, Mecure Industries Plc recorded the steepest decline after shedding 26.97 per cent, while Royal Exchange, Tripple Gee & Company, BUA Foods, Presco and Nestlé Nigeria also posted notable losses during the week.

In other market developments, the Exchange announced the suspension of trading in the shares of Aluminium Extrusion Plc, effective July 22, 2026, for failing to file its audited financial statements for the year ended December 31, 2025, within the stipulated regulatory timeline. NGX said the suspension would be lifted once the company submits the outstanding financial statements.

The Exchange also disclosed that 12.32 billion additional ordinary shares of Linkage Assurance Plc had been admitted to its Daily Official List following the successful completion of the company’s rights issue, increasing its total issued shares from 18.48 billion to 30.80 billion.