The Nigerian equities market notched its 10th straight week of gains, with the All-Share Index (ASI) climbing by 6,810.12 points to close at an all-time high of 141,263.05.
The week ending August 1 opened with strong momentum, as the ASI swiftly surpassed the 140,000 and 141,000 thresholds. The bullish performance was largely fueled by significant interest in blue-chip stocks.
Investor engagement intensified, with trading volume escalating to 4.8 billion shares—up from 3.6 billion the previous week—reflecting a surge in market activity.
Consequently, the total market capitalisation jumped significantly, rising from ₦85.05 trillion to ₦89.37 trillion, underscoring growing investor confidence and sustained bullish sentiment.
Although the overall market direction remained positive, the number of gainers slightly declined to 54, compared to 60 in the previous week. On the flip side, 49 stocks declined, up from 43, while 43 equities maintained their previous week’s price levels.
Throughout the week, the market maintained an upward trajectory, closing each trading day on a positive note.
The week began with moderate gains, as the ASI crossed the 135,000 mark on Monday.
By Tuesday, the market had gained momentum, recording a daily volume of 940.7 million shares.
Continued gains on Wednesday and Thursday led the ASI to surpass 141,000 by Friday.
The NGX Premium Index stood out with a 9.21% increase, bolstered by exceptional performances from MTN Nigeria (+20%) and Lafarge Africa (+19%). Dangote Cement also saw a 7.16% uptick.
The NGX 30 Index delivered a weekly return of 5.13%, outshining the broader market. Meanwhile, the NGX Main Board Index posted a 2.80% gain.
Industrial Goods topped sectoral performance with a 10.12% rise, driven by standout returns from Triple Gee (22.51%), Beta Glass (16.71%), Lafarge Africa (19.15%), Berger Paints (11.29%), BUA Cement (9.63%), and Dangote Cement (7.16%).
The Banking Index advanced by 3.49%, led by Wema Bank (20.10%), Ecobank (17.03%), FCMB (10.20%), GTCO (5.85%), UBA (4.79%), and Zenith Bank (3.38%).
In the Consumer Goods segment, the index rose by 2.72%, primarily supported by UACN Plc’s stellar 60.69% rally.
However, the Oil & Gas and Insurance indices dipped by 0.48% and 1.22%, respectively.
Top Gainers:
UACN Plc led the charge with a 60.69% surge. Mecure Industries Plc followed, gaining 41.52%.
Other notable performers:
Custodian Investment Plc: +27.87% to ₦39.00
Veritas Kapital Assurance Plc: +23.01% to ₦1.39
Triple Gee: +22.51% to ₦4.30
Multiverse Mining: +20.56% to ₦10.85
Wema Bank: +20.10% to ₦23.90
MTN Nigeria: +20.00% to ₦480.00
Royal Exchange: +20.00% to ₦1.50
Lafarge Africa: +19.15% to ₦149.00
Top Losers:
Abbey Mortgage Bank Plc declined by 34.13%, the biggest drop for the week. FTN Cocoa Processors Plc followed with a 20.30% slide.
Additional losers:
Cornerstone Insurance: -15.99% to ₦4.15
NAHCO: -15.13% to ₦99.30
The Initiates Plc: -14.76% to ₦13.75
Lasaco Assurance: -14.75% to ₦2.60
University Press: -13.71% to ₦5.10
Secure Electronic Technology: -13.04% to ₦0.80
Nigerian Exchange Group: -12.28% to ₦70.00
C & I Leasing: -11.68% to ₦6.58
The week also saw a flurry of corporate results and regulatory disclosures:
Cutix Plc announced its full-year financials for FY ending April 30, 2025.
Q2 2025 earnings were released by several firms, including Unilever, United Capital, Dangote Sugar, Transcorp Power, Ikeja Hotels, Berger Paints, Ecobank, and Nigerian Breweries.
Half-year figures were issued by NAHCO and Wema Bank, while other updates came from Aradel, Nestlé, Cadbury, and Presco.
GTCO confirmed it had delisted its Global Depository Receipts (GDRs) from the London Stock Exchange.
With the ASI pushing beyond the 140,000 threshold and trading activity increasing, analysts believe continued momentum in heavyweight stocks could sustain the market’s bullish run, provided overbought signals are avoided.
