Economy
NGX Index Grows 1.00% to Record High of 141,263.05 points
By Dipo Olowookere
The first trading day of August 2025 on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note, with a 1.00 per cent appreciation.
The bourse continued its upward movement due to sustained buying pressure, pushing prices of most stocks on the platform higher at the close of transactions.
According to data, the All-Share Index (ASI) was up by 1,399.53 points to a record high of 141,263.05 points from the preceding day’s 139,863.52 points and the market capitalisation gained N948 billion to settle at N89.373 trillion compared with the previous session’s N88.425 trillion.
UAC Nigeria gained 9.96 per cent to sell for N88.30, BUA Cement appreciated by 9.63 per cent to N148.00, Veritas Kapital grew by 9.45 per cent to N1.39, Beta Glass improved by 9.22 per cent to N408.50, and Legend Internet rose by 8.84 per cent to N6.40.
On the flip side, Champion Breweries slumped by 10.00 per cent to N12.51, Oando crashed by 10.00 per cent after the release of its H1 2025 earnings to N53.10, Dangote Sugar also declined by 10.00 per cent to N66.15, Cornerstone Insurance dropped 9.78 per cent to N4.15, and Abbey Mortgage Bank plunged by 9.76 per cent to N5.27.
Investor sentiment was slightly weak after Customs Street finished with 34 price gainers and 35 price losers, representing a negative market breadth index.
Yesterday, the market participants transacted 1.1 billion equities worth N26.9 billion in 34,488 deals compared with the 1.1 billion equities valued at N33.7 billion traded in 37,370 deals in the previous session, indicating the trading volume was flat, the trading value was down by 20.18 per cent, and the number of deals was up by 7.71 per cent.
The most active stock remained FCMB with 277.2 million units sold for N2.8 billion, Fidelity Bank exchanged 85.6 million units valued at N1.8 billion, Sterling Holdings traded 58.4 million units worth N396.8 million, Universal Insurance transacted 44.7 million units valued at N32.8 million, and Veritas Kapital exchanged 41.5 million units worth N57.2 million.
By Aduragbemi Omiyale
The submission of the second quarter of 2026 Ownership Structure and Capital Flows Returns by capital market operators in Nigeria closes today, Friday, July 10, 2026.
The Securities and Exchange Commission (SEC) gave all registrars, brokers/dealers, fund managers and other relevant capital market operators this deadline via a statement on Wednesday, July 8, 2026.
The documents are needed in support of the compilation of Nigeria’s Balance of Payments (BOP) and International Investment Position (IIP) statistics.
According to the SEC, the exercise forms part of ongoing efforts to improve the quality, coverage, and reliability of Nigeria’s external sector statistics.
Operators are required to provide quarterly data on new equity and debt investments by residents and non-residents; equity and debt holdings of non-residents in Nigerian entities and those of Nigerian residents in foreign entities; investments arising from mergers, acquisitions, and other business combinations involving resident and non-resident entities; and other cross-border capital market transactions.
Specifically, reporting entities are required to submit information on investments in newly issued equities and debt securities; foreign portfolio investment holdings in Nigerian companies; ownership interests arising from business combinations involving non-residents; investments by multinational corporations in the Nigerian capital market; equity investments held abroad by resident companies; and bond investments held abroad by resident companies.
The regulator reminded operators that accurate and timely reporting is critical to the compilation of reliable BOP and IIP statistics, directing all fund managers, brokers/dealers, registrars, and other relevant capital market operators to ensure full and timely compliance with this reporting requirement.
It thanked those who have consistently complied with this requirement and acknowledged their contribution to this important national assignment.
It noted that the submission of ownership structure and capital flows data is a continuous quarterly reporting obligation, advising them to carefully review the guidance accompanying each reporting template and ensure that all submissions are complete, accurate, and submitted within the stipulated timeline.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange was weakened by 1.19 per cent on Thursday, July 9, by three bellwether stocks on the platform.
Consequently, the NASD Security Index (NSI) lost 50.47 points to close at 4,199.73 compared with the previous day’s 4,250.20 points, and the market capitalisation gave up N30.29 billion to settle at N2.520 trillion versus Wednesday’s closing value of N2.551 trillion.
The price decliners were led by 11 Plc, which fell by N20.54 to sell at N200.01 per share compared with the preceding session’s N220.55 per share. FrieslandCampina Wamco Nigeria Plc crashed by N11.48 to trade at N140.51 per unit compared with the N151.98 per unit it ended a day earlier, and UBN Property Plc depreciated by 19 Kobo to N1.80 per share from N1.99 per share.
Business Post reports that the sole gainer at the session was IPWA Plc, which added 88 Kobo to quote at N9.71 per unit, in contrast to the previous day’s closing price of N8.83 per unit.
Yesterday, the volume of securities traded by market participants surged by 14,965.4 per cent to 23.9 million units from the previous session’s 158,933 units, and the value of stocks rose by 528.1 per cent to N68.2 million from the preceding session’s N10.9 million, while the number of deals decreased by 3.2 per cent to 30 deals from Wednesday’s 31 deals.
Great Nigeria Insurance (GNI) Plc closed the trading day as the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 70.7 million units exchanged for N4.9 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Adedapo Adesanya
A slowdown in the demand for foreign exchange (FX) strengthened the value of the Nigerian Naira against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, July 9.
At the official market, the Naira gained 64 Kobo or 0.05 per cent against the greenback yesterday to sell at N1,378.43/$1 compared with Wednesday’s exchange rate of N1,379.07/$1.
The market saw a sharp decrease in transaction volume and value, meaning that heavy demand for the Dollar eased.
Interbank FX turnover reduced sharply by more than 62 per cent to $78.708 million, according to the Central Bank of Nigeria (CBN), from $208.094 million in the preceding day.
FX traders also noticed a sharp decline in the number of deals at the NFEM window in the absence of Dollar injection by the central bank. Deal counts shrank to 106 during the NFEM window, down from 150, reflecting a slowdown in FX activity among market makers.
However, the local currency depreciated against the Pound Sterling in the spot market during the session by N6.18 to N1,846.82/£1 from N1,840.64/£1, and declined against the Euro by N2.79 to close at N1,576.09/€1 versus the preceding session’s N1,573.30/€1.
At the GTBank FX desk, the Naira lost N4 against the US Dollar to quote at N1,385/$1, in contrast to the N1,381/$1 it was traded at midweek, and at the parallel market, it remained unchanged at N1,400/$1.
Meanwhile, the cryptocurrency market soared after a moderation in oil prices and bond yields following the collapse of the Iran war ceasefire.
As has been the pattern for months, markets are looking past inflamed rhetoric and new airstrikes to likely conciliatory statements in the near future.
Bitcoin (BTC) gained 2.3 per cent to sell at $64,048.89, Dogecoin (DOGE) grew by 1.9 per cent to $0.0741, Ethereum (ETH) expanded by 1.6 per cent to $1,777.98, Solana (SOL) rose by 1.0 per cent to $79.13, Ripple (XRP) appreciated by 0.9 per cent to $1.10, Binance Coin (BNB) added 0.6 per cent to sell for $576.91, and TRON (TRX) also improved by 0.6 per cent to $0.3329.
However, Cardano (ADA) crashed by 0.9 per cent to $0.1669, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
