Reported by Tahir Ishaq Shehu
The Nigerian equities market witnessed a spectacular rally on Thursday, July 10, driven by heavyweight stocks including United Bank for Africa (UBA), MTN Nigeria, Nigerian Breweries, and Zenith Bank. The impressive surge lifted the NGX All-Share Index (ASI) by 2.01%, closing at 124,446.80 points, while total market capitalisation climbed to ₦78.726 trillion, inching closer to the historic ₦80 trillion mark.
Market Highlights
All-Share Index: Rose by 2,457.13 points from 121,989.67 to 124,446.80
Market Capitalisation: Increased from ₦76.97 trillion to ₦78.73 trillion
Trading Volume: Approximately 1.28 billion shares traded, up from 888 million
Trading Value: Over ₦18 billion exchanged in 10,833 deals
The bullish sentiment, largely driven by strong investor demand in banking and telecoms sectors, extended the market’s winning streak to a seventh consecutive session.
Market Movers
Among the top-performing stocks, UBA soared by the daily limit of 10%, closing at ₦39.60. Other notable gainers included:
MTN Nigeria: +9.86%
Nigerian Breweries: +7.52%
Zenith Bank: +7.46%
GTCO: Strong volume and value activity
FTN Cocoa, CAVERTON, UPDC: Each gained 10%
These blue-chip stocks accounted for the bulk of market gains, reflecting investor confidence in their upcoming earnings reports and sector stability.
Trading Snapshot
Top Traded by Volume:
ACCESSCORP – 174.4 million shares
AIICO Insurance – 82.2 million shares
JAPAULGOLD – 74 million shares
UBA – 64.5 million shares
FCMB – 63.3 million shares
Top Traded by Value:
ACCESSCORP – ₦3.99 billion
Nigerian Breweries – ₦3.8 billion
UBA – ₦2.52 billion
Zenith Bank – ₦2.01 billion
GTCO – ₦1.9 billion
Analyst Insight
Market analysts attribute the surge to renewed investor appetite for fundamentally strong companies, particularly in the banking and consumer goods sectors.
“This rally is a reflection of positive investor sentiment ahead of Q2 earnings. With strong expectations from the banking sector and stable macroeconomic indicators, the market could sustain this momentum,” said an analyst at Vetiva Capital.
Weekly Performance
According to data from NGX and The Hope Newspaper, the market recorded a ₦1.08 trillion weekly gain. The ASI is now up 20.91% year-to-date, underlining its strong performance in 2025.
Outlook
With the index heading towards the 125,000-point threshold and capitalisation nearing ₦80 trillion, the Nigerian stock market remains firmly in bullish territory. If current trends persist, the NGX may surpass key psychological benchmarks in the coming weeks, fueled by robust corporate earnings and favorable investor sentiment.