The Nigerian stock market extended its bullish run on Tuesday, July 22, 2025, adding N396 billion to its market capitalisation amid renewed investor interest across key sectors. The All-Share Index of the Nigerian Exchange Limited (NGX) rose by 0.71 per cent to close at 99,793.71 points, up from the previous close of 99,088.32 points, while the market capitalisation climbed to N56.49tn from N56.09tn.

The positive performance was driven largely by gains in heavyweight stocks such as Dangote Cement, BUA Cement, and MTN Nigeria. Of the 129 equities traded, 36 posted gains while 34 recorded losses, reflecting a generally upbeat market sentiment.

Dangote Sugar led the gainers’ chart with a 10 per cent rise to N56.10 per share, followed by The Initiates Plc, Sovereign Trust Insurance, Nigerian Enamelware, and UPL, all of which posted strong single-digit gains. On the downside, Ellah Lakes and Legend Internet declined by 10 per cent each, with FTN Cocoa, Meyer, and Thomas Wyatt also among the top losers.

Despite the market uptrend, trading volume dropped by 47.7 per cent as 408.62 million shares worth N7.83bn were exchanged in 8,256 deals, compared to 781.82 million shares worth N13.97bn traded on Friday. FBN Holdings, Access Holdings, and UBA were the most active stocks by volume.

The rally was broad-based, with the Industrial Goods Index leading sectoral gains at 2.87 per cent week-on-week. The Premium Board, Consumer Goods, Top 30, Main Board, and Insurance indices also posted positive performances, reinforcing the market’s optimistic outlook despite mixed sentiment earlier in the week.