NGX Closes July on a High Note as ASI Rallies, YTD Return Hits 35.89%

The Nigerian Exchange (NGX) concluded the last trading session of July on a bullish note, as the All-Share Index (ASI) climbed by 0.42% to close at 139,863.52 points.

This positive momentum lifted the year-to-date (YTD) return to 35.89%.

Thursday’s trading session saw equity investors gain ₦364.55 billion, boosting the overall market capitalisation to ₦88.42 trillion. Stockbrokers attributed the uptrend to robust liquidity and persistent demand for equities, even as market sentiment remained mixed.

Despite the index’s rise, market breadth tilted negative, with 54 decliners outpacing 28 gainers. This imbalance reflected a combination of profit-taking from recently rallied stocks and bargain hunting in select large and mid-cap equities such as WEMABANK, GUINNESS, DANGCEM, ARADEL, and 22 others.

Trading volume grew by 20.97%, although the total value of transactions dipped by 3.92%, suggesting more trades at slightly lower average prices.

In its commentary, Atlas Portfolio Limited noted that a total of 1,095.67 million units worth ₦32.83 billion were exchanged in 36,890 transactions.

FCMB led the volume chart with 11.05% of total trades, followed by UNIVINSURE (8.32%), FIDELITYBK (7.37%), REGALINS (5.87%), and ROYALEX (4.28%).

WAPCO was the most traded stock by value, accounting for 10.72% of total transaction value. On the gainers’ side, WEMABANK and UACN both posted a 10.00% increase, followed closely by GUINNESS (+9.96%), SKYAVN (+9.95%), MECURE (+9.69%), MULTIVERSE (+9.60%), and CUSTODIAN (+9.09%).

However, 54 stocks closed lower. MANSARD, FTNCOCOA, LEARNAFRCA, and TIP were among the top laggards, each shedding 10%. Others included HMCALL (-9.94%), LEGENDINT (-9.40%), FIRSTHOLDCO (-7.59%), CORNERST (-5.93%), and ETERNA (-5.44%).

Overall, the session recorded a negative market breadth. Sector-wise, the Banking (+0.08%), Oil & Gas (+0.94%), Industrial Goods (+1.35%), and Commodities (+0.52%) sectors posted gains. Meanwhile, the Insurance and Consumer Goods sectors declined by 4.31% and 0.02%, respectively.