The Nigerian Stock Exchange (NGX) closed on a positive note at the end of today’s trading session, Tuesday, July 29, recording gains in market capitalisation and strong investor activity across key equities. A total of 940,804,135 shares were traded in 28,358 deals, with a market turnover of ₦30.63 billion. This marks an 18 per cent increase in volume and a 32 per cent rise in value when compared with Monday’s session. However, the number of deals fell by 25 per cent.
The market capitalisation rose by ₦2.145 trillion to close at ₦87.2 trillion, moving from yesterday’s N85.455 trillion, underlining growing investor confidence and bullish sentiment. Out of the 128 listed equities that participated in trading, 51 closed with gains while 25 recorded losses, reflecting a predominantly positive market breadth.
MTN Nigeria, Berger Paints, and Lafarge Lead Gainers
Blue-chip companies dominated the gainers’ chart. MTN Nigeria Communications Plc saw its share price rise from ₦410.55 to ₦451.60, representing a 9.99 per cent increase. Berger Paints Plc also posted a strong performance, advancing by 10.00 per cent to close at ₦34.10 from ₦31.00.
Lafarge Africa Plc followed suit, appreciating by 8.76 per cent to ₦140.30 from ₦129.07. Haldane McCall Plc recorded a 10.00 per cent increase, with its stock price climbing from ₦4.30 to ₦4.73, while Champion Breweries Plc rose 7.01 per cent to ₦14.50.
Other notable gainers include UACN Plc, which gained 9.93 per cent to close at ₦66.40; Transnational Corporation Plc, up 6.16 per cent; and Ecobank Transnational Incorporated, which advanced by 7.65 per cent. Dangote Sugar Refinery Plc also saw a substantial 9.94 per cent increase to ₦64.70.
PZ Cussons Nigeria Plc, Cadbury Nigeria Plc, and Nem Insurance Plc also ended on a high, with gains of 6.48, 3.73, and 4.80 per cent, respectively. Sovereign Trust Insurance Plc climbed 9.88 per cent, while Mecure Industries Plc and the Lotus Halal Equity ETF gained 9.58 and 10.00 per cent respectively.
Decliners Include Flour Mills, Vitafoam, and Abbey Mortgage
Despite the overall bullish trend, some stocks recorded declines. Nigerian Flour Mills Plc led the laggards, falling by 10.00 per cent from ₦103.50 to ₦93.15. Vitafoam Nigeria Plc followed with a 9.96 per cent drop to ₦79.10, while Abbey Mortgage Bank Plc declined 10.00 per cent to ₦7.20.
Industrial & Medical Gases Nigeria Plc slipped 9.93 per cent to ₦37.65, and International Breweries Plc shed 7.10 per cent to close at ₦15.05. Other notable losers included Legend Internet Plc, which fell by 6.96 per cent; RT Briscoe Plc, down 6.14 per cent; and E-Tranzact International Plc, which declined by 4.76 per cent.
May & Baker Nigeria Plc dipped 3.19 per cent, while Nem Insurance Plc was down 2.06 per cent. CWG Plc recorded a modest loss of 0.84 per cent, closing at ₦17.80.
Interestingly, NPF Microfinance Bank Plc, initially among the losers, actually posted a significant gain. The bank’s shares rose by 9.89 per cent from ₦2.84 to ₦3.11, reflecting strong buying interest in the microfinance segment.
Fidelity Bank Tops Trading Activity
In terms of trading activity, Fidelity Bank Plc led the market both in volume and value, with about 111.3 million shares exchanged at a value of ₦2.33 billion. This suggests heightened investor interest and liquidity in the stock.
Royal Exchange Plc followed with a trading volume of approximately 74.1 million shares, although its value was much lower at ₦111 million, indicating a significantly lower share price.
Jaiz Bank Plc recorded a volume of 60.9 million shares, valued at ₦238 million, showing moderate investor participation. University Press Insurance Plc posted a volume of 38.3 million shares traded, with a total value of nearly ₦29 million, underscoring the lower price point of the stock.
Overall, today’s market performance reflects strong momentum in key sectors, driven largely by investor appetite for value and blue-chip stocks. As sentiment continues to build, market watchers will be keenly observing whether the bullish trend sustains into the midweek session.
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