The Nigerian Exchange (NGX) ended July 2025 on a bullish note, recording a remarkable N12.62tn growth in market capitalisation. On the last trading day of the month, the All-Share Index (ASI) rose by 0.42 per cent to an all-time high of 139,863.67 points, up from 139,278.67 points in the previous session. This capped a 21-day consecutive rally, delivering a month-to-date return of 17.03 per cent, a week-on-week gain of 3.97 per cent, and a year-to-date advance of 34.60 per cent.

At Thursday’s close, investors exchanged 1.1 billion shares valued at N32.99bn in 37,365 deals. This represented a 24 per cent increase in volume, a two per cent decline in turnover, and a three per cent rise in the number of deals compared to the previous day. UAC of Nigeria led the gainers with a 10 per cent jump to N80.30 per share, followed by Wema Bank and Guinness Nigeria, which gained 10 per cent and 9.96 per cent, respectively. Skyway Aviation Handling Company and Mecure Industries also posted strong gains. Conversely, The Initiates Plc, AXA Mansard Insurance, Learn Africa, and FTN Cocoa Processors all shed 10 per cent each.

In terms of volume, FCMB Group topped the chart with 121.5 million shares traded, followed by Universal Insurance with 91.5 million shares and Fidelity Bank with 81.1 million shares. On the value chart, Lafarge Africa led with N3.53bn worth of trades, trailed by Dangote Cement with N2.85bn, MTN Nigeria with N2.83bn, and GTCO with N2.45bn. Performance across major indices was positive, with the Top 30 Index up 0.5 per cent, Industrial Index up 1.35 per cent, and Premium Index up 1.04 per cent. The Oil & Gas, Pension, and Banking indices also posted modest gains. Market capitalisation closed at N88.4tn, reflecting sustained investor confidence ahead of the earnings season and ongoing macroeconomic reforms.