The Nigerian equities market closed the week at losses, with the benchmark All-Share Index slipping 0.03% session-on-session and 0.81% week-on-week to close at 245,283.68 points.
Despite the losses, the market added approximately N11.11 trillion to investors’ wealth on a month-to-date basis, with the benchmark NGX All-Share Index advancing 6.92% to close at 245,283.68 points on July 31.
Market Performance
The market capitalisation fell by 0.01% day-to-day but approximately N887 billion week-on-week to close at N158.70 trillion, partly reflecting the new listing of 5 billion units of AVACAP on the NGX.
The overall performance in July was very strong, with the market adding wealth to investors on a month-to-date basis, and the market capitalisation rising to N158.33 trillion, from N147.22 trillion a month earlier.
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Top Performing Stocks
Critical Minerals Financing Corp led the gainers, up 22.78% to N3.88, followed by Coronation Infrastructure Fund, up 20.92% to N154.30, and Thomas Wyatt Nigeria, up 20.66% to N4.38.
Other top performers included Consolidated Hallmark Holdings, up 19.60% to N8.36, Lasaco Assurance, up 18.68% to N2.16, and VFD Group, up 12.21% to N11.95.
Sector Performance
The key sector indices closed the week ended July 31 mostly lower, with the Banking Index easing 0.69% for the week to 2,527.59 points, weighed down by selloffs in Access Holdings, Wema Bank, FCMB, and UBA.
The Financial Services Industry again led activity by volume, with 3.918 billion shares worth N271.428 billion traded in 123,514 deals, contributing 76.55% of total volume and 67.06% of total value.
The top three stocks by volume — First HoldCo, AVA Capital, and Access Holdings — accounted for 2.308 billion shares worth N224.773 billion in 27,359 deals, or 45.09% of total volume and 55.53% of total value.
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Fortis Global Insurance Plc listed an additional 15 billion ordinary shares on July 30, 2026, arising from the conversion of N12 billion in debt to equity at N0.80 per share, raising its total issued shares from 3.228 billion to 18.228 billion.
AVA Capital Plc listed its entire 5 billion ordinary shares by introduction at N7.50 per share on the Main Board on July 31, 2026, trading under the symbol AVACAP.
The week’s pullback comes despite a strong monthly showing, with the stock market recording cumulative gains across the first seven months of 2026, pushing total market capitalisation from N99.376 trillion at the end of 2025 to N158.326 trillion by July 31.
Investors are watching the market closely.