Stock Market Extends Rally as Investors Gain N1.865 Trillion in Single Session
By Aboki Forex —
The Nigerian stock market closed higher on Tuesday, July 7, as sustained buying interest across major sectors boosted investors' wealth by N1.865 trillion. The rally was driven by buying pressure in industrial goods, insurance, oil and gas, consumer goods, and banking stocks, with all key sectoral indices closing in positive territory.
At the close of trading, the NGX All-Share Index (ASI) advanced from 234,178.23 points to 237,083.28 points. Market capitalisation increased from N150.271 trillion to N152.136 trillion.
Sectoral Performance
The NGX Industrial Goods Index led the gainers, rising by 3.36%. The NGX Insurance Index followed with an increase of 1.18%. The NGX Oil and Gas Index advanced by 0.60%, while the NGX Consumer Goods Index gained 0.49%. The NGX Banking Index edged up by 0.07%.
Top Gainers and Losers
Zichis rose from N24.20 to N26.62, gaining N2.42 or 10.00%. Cadbury Nigeria advanced from N56.00 to N61.60, adding N5.60 or 10.00%. NAHCO increased from N133.65 to N147.00, gaining N13.35 or 9.99%. DAAR Communications climbed from N1.81 to N1.99, up N0.18 or 9.94%. Caverton rose from N5.05 to N5.55, gaining N0.50 or 9.90%.
On the downside, Critical Minerals Financing Corp fell from N3.70 to N3.33, losing N0.37 or 10.00%. Trans-Nationwide Express declined from N3.00 to N2.70, shedding N0.30 or 10.00%. Fortis Global Insurance dropped from N2.90 to N2.61, losing N0.29 or 10.00%. Ecobank fell from N95.20 to N85.70, down N9.50 or 9.98%. Mecure declined from N94.90 to N85.45, losing N9.45 or 9.96%.
Market Activity
A total of 493.7 million shares worth N28.0 billion were traded in 49,969 deals. Zenith Bank led with 94.3 million shares valued at N9.9 billion. Fidelity Bank traded 32.6 million shares worth N587.4 million. Sterling Holdings exchanged 28.6 million shares valued at N218.1 million. Linkage Assurance traded 18.9 million shares worth N28.6 million. Jaiz Bank recorded 15.3 million shares valued at N123.6 million.
For investors and businesses, this broad-based rally signals renewed confidence in the equities market. The sustained buying pressure across multiple sectors suggests that capital is flowing back into stocks, which could support the naira by reducing demand for dollar-denominated assets in the short term.