The Nigerian stock market gained 16.57% in July 2025, marking its best monthly performance so far this year, according to NGX data.
The All-Share Index closed the month at 101,154.46 points, up from 86,237.30. Market capitalization rose by N7.47 trillion to N57.13 trillion.
Analysts attributed the surge to improved investor confidence, economic reform signals, and growing foreign portfolio inflows into key sectors.
“This rally reflects confidence in ongoing reforms and attractive valuations,” noted analysts at CardinalStone.
Zenith Bank, UBA, First Bank, and Transcorp led market activity. Meanwhile, Jaiz Bank and Veritas Kapital topped volume charts.
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The NGX Banking Index jumped 36.88%, while Oil & Gas rose 18.89%, reflecting sector-wide optimism amid strong earnings expectations.
Despite the bullish trend, trading volumes dropped 24.98%, with 2.41 billion shares traded across 44,294 deals in July.
Investor sentiment remained positive ahead of half-year results and potential dividend announcements from listed companies.
“Improved FX liquidity and monetary policy direction have encouraged renewed offshore participation,” stated a Meristem Securities briefing.
Market breadth was mostly positive throughout the month, with advances recorded in 18 of the 23 trading sessions.
The rally positions Nigeria’s equities among the top-performing markets globally in 2025 despite ongoing macroeconomic pressures.
Analysts caution that profit-taking may occur in early August but maintain a stable outlook if reform policies continue.
Foreign investor interest is expected to grow further, bolstered by Nigeria’s policy direction and improving investment climate.
