The Nigerian equities market closed July on a strong note, extending the bullish momentum that gathered pace in June and delivering its best performance so far this year with a 16.57% gain.

Tracked by the NGX All-Share Index, the market opened the month at 119,980.4 and recorded gains every trading week, finishing at 139,863.5 by month-end.

Investor activity gathered strong momentum as well, with 22 billion shares traded during the month, up sharply from 13.8 billion in June, marking a surge in market participation.

Market capitalization reflected this strong performance, climbing from N75.80 trillion at the start of the month to N88.4 trillion, in line with price gains across the board.

So far in 2025, the market has closed in positive territory in five of the seven months, pushing the index closer to the 140,000 mark and lifting the year-to-date performance to 35.9%.

This impressive run was driven by sustained bullish sentiment across key sectors, reinforcing confidence in the market’s upward trajectory.

The Nigerian equities market saw strong sectoral performances in July, with the Industrial Goods sector emerging as the top gainer.

Tracked by the NGX Industrial Goods Index, the sector posted a remarkable 34.28% return for the month, climbing from 3,638.2 to 4,885.2 points, supported by a trading volume of 534.2 million shares.

Heavyweights like Dangote Cement, BUA Cement, and Lafarge Africa (WAPCO) were key drivers of the index’s rally, accounting for a significant portion of the movement.

The Banking sector also posted a strong performance, with the NGX Banking Index advancing 25.78% to close at 1,610.5 points from 1,280.4.

This growth was backed by robust investor interest, as the sector recorded a trading volume of 6.48 billion shares, the highest across all sectors.

The Insurance sector maintained its upward trajectory, with the NGX Insurance Index rising 17.74%, closing the month at 889.5 points from 755.5.

Trading activity was also strong, with 3.27 billion shares changing hands.

The Consumer Goods sector followed with a solid 11.14% gain, as the NGX Consumer Goods Index rose from 2,635.9 to 2,929.4 points. The sector recorded a trading volume of 1.1 billion shares.

The Oil and Gas sector was the weakest performer in July, recording a modest 1.72% gain.

Oando led the sector with a 16.32% increase, while Aradel Holdings posted a slight gain of 3.01%. Other stocks ended July in the red.