The Nigerian Exchange Limited began July on a downward trajectory, with investors experiencing losses totaling N150 billion during Tuesday’s trading session on July 1st.
Market capitalization fell from N75.95 trillion on Monday to N75.8 trillion by market close, signaling a return to profit-taking activities following June’s robust performance. The All-Share Index declined by 237.34 points, representing a 0.2% decrease to settle at 119,741.23 points.
This drop brought the week-to-date performance into negative territory at -0.04%, though the market continues to show strength with gains of 7.09% over the past month and 16.34% year-to-date.
Trading Activity Slumps
Market participation decreased significantly, with 527.08 million shares worth N11.28 billion changing hands across 21,546 transactions. These figures represent substantial declines from the previous session: volume dropped 63%, turnover fell 74%, and the number of deals decreased by 14%.
Mixed Performance Across Stocks
Of the 129 stocks that traded during the session, 47 advanced while 23 declined. Honeywell Flour Mill emerged as the top performer, surging 10% to close at N23.65. RT Briscoe, McNichols, and Mutual Benefits Assurance matched this performance with identical 10% gains. Other notable winners included LASACO and Meyer, alongside several mid-tier stocks.
University Press led the declining stocks with a 10% drop to N5.04. SCOA Nigeria fell 9.83%, Thomas Wyatt Nigeria decreased 9.57%, and PZ Cussons declined 7.89%.
Volume and Value Leaders
Ellah Lakes dominated trading volume with 46.05 million shares, followed by UPDC at 38.5 million shares and Universal Insurance with 30.4 million shares. Nigerian Breweries commanded the highest value position, accounting for N1.74 billion in traded shares.
Sectoral Performance Varies
Sector performance showed notable divergence. The Consumer Goods Index posted impressive gains of 31.6%, while the Banking Index rose 17.99%. The Top 30 Index increased 6.8%, and the Pension Index climbed 9.59%. However, the Premium Index retreated 0.92%.
Market Outlook
The bearish opening to July’s trading reflects renewed caution among investors despite positive sectoral performances. This shift in sentiment marks a contrast to the market’s strong finish in the first half of 2025, when the Nigerian Exchange added N5.32 trillion in value amid sustained investor interest in equities.
The mixed signals suggest market participants are reassessing positions as they navigate the second half of the year, balancing profit-taking opportunities against longer-term growth prospects.
