Summary
The Nigerian stock market closed the week lower, with investors losing about N887 billion.
The NGX All-Share Index declined by 0.81% week-on-week despite a strong performance in July.
Analysts expect mixed trading in the coming weeks as investors assess corporate earnings and hunt for bargains.
The Nigerian equities market ended the trading week on a negative note, with investors recording an estimated N887 billion loss as profit-taking dragged down key market indicators despite a strong overall performance in July. Read original
According to the Nigerian Exchange (NGX) weekly market report for the week ended Friday, July 31, 2026, the benchmark All-Share Index (ASI) fell by 0.81% week-on-week to close at 245,283.68 points, compared with 247,357.40 points recorded at the beginning of the week.
Market capitalisation also declined by approximately N887 billion, closing at N158.33 trillion, although the listing of additional shares by Fortis Global Insurance Plc and the introduction of AVA Capital Plc helped cushion the overall decline.
Despite the weekly loss, the Nigerian stock market remains one of the world's best-performing equity markets in 2026, with the benchmark index delivering a 57.62% year-to-date return, while market capitalisation has gained 59.32% since the start of the year.
The market also recorded a strong performance in July, adding about N11.11 trillion to investors' wealth. During the month, the All-Share Index advanced 6.92%, while market capitalisation increased from N147.22 trillion at the end of June to N158.33 trillion by July 31.
Trading activity improved significantly during the week, with investors exchanging more than 5.11 billion shares valued at N404.76 billion across 285,223 deals, representing increases in both trading volume and value compared to the previous week.
Among the week's biggest gainers were Critical Minerals Financing Corp, Coronation Infrastructure Fund, Thomas Wyatt Nigeria, Consolidated Hallmark Holdings and Lasaco Assurance, all posting double-digit gains.
On the losing side, Associated Bus Company recorded the sharpest decline, followed by Fortis Global Insurance, Tripple Gee & Company, Veritas Kapital Assurance and International Breweries.
Sector performance was largely negative, with four of the five major sector indices closing lower. The Banking Index recorded the biggest decline after investors took profits in banking stocks, including Access Holdings, Wema Bank, FCMB and UBA.
The Insurance Index was the only sector to finish the week higher, supported by renewed buying interest in Consolidated Hallmark Holdings, Lasaco Assurance and NEM Insurance.
The Financial Services sector remained the most active on the exchange, accounting for more than three-quarters of the total trading volume and over two-thirds of the total value traded during the week.
The period also saw notable corporate actions. Fortis Global Insurance listed an additional 15 billion ordinary shares following the conversion of debt into equity, while AVA Capital Plc officially joined the Main Board of the Nigerian Exchange through a listing by introduction.
Despite the latest pullback, the market has generated cumulative gains of approximately N58.97 trillion in the first seven months of 2026, with total market capitalisation rising from N99.38 trillion at the end of 2025 to N158.33 trillion.
Market analysts expect trading to remain mixed in the coming weeks as investors continue to evaluate half-year corporate earnings, company outlooks and opportunities to buy fundamentally strong stocks following recent price corrections.
