Equities investors pocket N2.53trn weekly gain on banking surge

The Nigerian Exchange (NGX) sustained its bullish momentum in the week ended July 24, 2026, as renewed demand for banking and cement stocks lifted investors’ wealth by N2.53 trillion, despite profit-taking dragging the market lower at the close of Friday’s trading session.

The market capitalisation rose 1.61 per cent week-on-week to N159.59 trillion from N157.06 trillion, while the NGX All-Share Index (ASI) advanced 1.60 per cent to 247,357.40 points, pushing the market’s year-to-date return to 58.96 per cent, up from 56.45 per cent the previous week.

The rally was underpinned by strong buying interest in heavyweight banking and industrial stocks, including First HoldCo, which surged 25.59 per cent, BUA Cement (17.56 per cent), Zenith Bank (10.96 per cent) and MTN Nigeria (2.84 per cent).

The gains offset losses recorded in BUA Foods (-10.00 per cent), Presco (-10.00 per cent), Fidelity Bank (-3.89 per cent) and Stanbic IBTC Holdings (-2.34 per cent).

However, the market surrendered part of its weekly gains on Friday as profit-taking in banking and consumer stocks pulled the benchmark index lower.

The ASI declined 0.19 per cent during the session, while market capitalisation also shed 0.19 per cent, erasing about N305.82 billion from investors’ wealth.

The decline was driven by losses in Presco (-10.00 per cent), Thomas Wyatt Nigeria (-9.93 per cent), Trans-Nationwide Express (-8.44 per cent), Royal Exchange (-7.86 per cent) and LivingTrust Mortgage Bank (-7.32 per cent).

The negative performance outweighed gains recorded by C&I Leasing (+9.48 per cent), RT Briscoe (+8.61 per cent), Honeywell Flour Mills (+7.38 per cent), Afriprudential (+6.98 per cent) and Legend Internet (+6.82 per cent).

Market activity weakened during Friday’s trading as investors exchanged 565.46 million shares, representing a 27.72 per cent decline in volume, while the value of transactions fell 46.94 per cent to N29.87 billion.

Access Holdings emerged as the most actively traded stock by volume with 128.01 million shares, while Aradel Holdings recorded the highest transaction value at N6.62 billion.

Despite the benchmark index closing lower on Friday, market breadth remained positive at 1.40 times, with 35 gainers against 25 losers, indicating that buying interest remained broadly intact across the market.