The Nigerian Exchange (NGX) closed the last trading session of July on a positive note, delivering a year-to-date (YTD) return of 35.89% as investors saw their portfolio values increase by ₦364.55 billion.
The All-Share Index (ASI) rose by 0.42% to close at 139,863.52 points, while market capitalisation advanced to ₦88.42 trillion. The upward movement was supported by strong liquidity and continued demand for equities.
Despite the gains, market breadth remained negative as 28 stocks advanced while 54 declined. Analysts noted a mix of bargain hunting and profit-taking as the cause of the diverging sentiment.
Major gainers included Wemabank, Guinness, Dangote Cement, Aradel, and several other mid-to-large cap stocks that helped sustain the market’s momentum.
Trading activity ended on a mixed note. Total volume increased by 20.97%, while trade value dropped by 3.92%. About 1.1 billion units valued at ₦32.83 billion were traded across 36,890 deals, according to Atlass Portfolio Limited.
In terms of volume, FCMB led with 11.05% of total trades, followed by Univinsure (8.32%), Fidelity Bank (7.37%), Regal Insurance (5.87%), and Royal Exchange (4.28%). WAPCO was the most traded stock by value, accounting for 10.72% of total turnover.
Top gainers were Wemabank and UACN with a 10% increase each. Others included Guinness (+9.96%), Sky Aviation (+9.95%), Mecure (+9.69%), Multiverse (+9.60%), and Custodian Investment (+9.09%).
Meanwhile, 54 stocks closed in the red. Mansard, FTN Cocoa, Learn Africa, and TIP all declined by 10%. Other laggards included HMC Allied (-9.94%), Legend Interiors (-9.40%), First Holdco (-7.59%), Cornerstone Insurance (-5.93%), and Eterna (-5.44%).
Sector performance was largely positive. The banking sector gained 0.08%, oil and gas rose by 0.94%, industrial goods were up by 1.35%, and commodities gained 0.52%. However, insurance and consumer goods sectors fell by 4.31% and 0.02%, respectively.
Despite the mixed breadth, analysts say the strong YTD return reflects investor confidence in market fundamentals heading into the new month.
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