NGX gains N2tn as market cap hits N159tn

The Nigerian equities market concluded the week ending Friday, July 24, 2026, with a robust bullish performance, driving the total market capitalization to a new historical high above N159 trillion. This surge was fueled by significant institutional buying across key sectors, indicating a strong investor appetite.

The market capitalization of listed equities expanded by N2.53 trillion, representing a 1.61 percent weekly gain, to close at N159.588 trillion, up from N157.058 trillion in the preceding week. The benchmark NGX All-Share Index also advanced by 1.60 percent, settling at 247,357.40 points. Trading activity saw a substantial increase in liquidity, with investors trading 4.433 billion shares valued at N306.143 billion across 255,589 deals.

The Financial Services sector anchored the market's turnover, contributing 77.18 percent of the total equity trading volume and 67.68 percent of the total value. This performance was heavily influenced by three major banking stocks: First Holdco Plc, Access Holdings Plc, and Guaranty Trust Holding Company Plc. Sectoral indices largely mirrored the broader market's rally, with the NGX Banking Index jumping 8.35 percent and the NGX Premium Index gaining 4.00 percent.

However, not all sectors benefited from the positive momentum. The NGX Consumer Goods Index shed 3.76 percent, and the NGX Growth Index experienced a sharp decline of 20.24 percent. Despite mixed sectoral performance, the market breadth favored the bulls, with 57 equities appreciating compared to 44 gainers in the previous week. UPDC Real Estate Investment Trust led the gainers, surging 33.33 percent, followed by First Holdco Plc, which rose 25.59 percent.