Stock Market Begin July on Negative Note, Decline by N2.39tn

Kayode Tokede 

The Nigerian stock market resumed its negative note for the month of July 2026, dropping by N2.39 trillion as sustained selling pressure weighed on investor sentiment.

The Nigerian Exchange Limited All-Share Index (NGX ASI) lost 3,729.11basis points or 1.63 per cent to close at 225,690.07 basis points with Month-to-Date and Year-to-Date returns settled lower at -1.6per cent and +45per cent, respectively. 

Also, market capitalisation shed by N2.39 trillion to close at N144.825 trillion.

Sectoral performance was negative as the Oil & Gas (-4.4 per cent), Industrial Goods (-3.7per cent), Banking (-1.5per cent) and Consumer Goods (-0.9per cent) indices declined, while the Insurance (+0.4per cent) index advanced.

The decline was driven by price depreciation in large and medium capitalised stocks amongst which are; Aradel Holdings, Dangote Cement, NASCON Allied Industries, Zenith Bank and Guaranty Trust Holding Company (GTCO).

Market breadth remained negative, with 28 gainers against 33 decliners. Austin Laz & Company emerged the highest price gainer of 10 per cent to close at N3.30, per share. Guinea Insurance followed with a gain of 9.89 per cent to close at N1.00, while Abbey Mortgage Bank advanced by 9.66 per cent to close at N7.95, per share.

Daar Communications appreciated by 9.60 per cent to close at N1.37, while Regency Alliance Insurance rose by 9.52 per cent to close at 92 kobo.

On the other side, McNichols, Neimeth International Pharmaceuticals and Aradel Holdings led others on the losers’ chart with 10 per cent each to close at N7.65, N8.10 and N1,275.80 respectively, per share.

NACON Allied Industries followed with a decline of 9.98 per cent to close at N197.60, while International Breweries shed 9.52 per cent to close at N9.50, per share.

Meanwhile, the total volume traded declined by 54.7 per cent to 437.60 million units, valued at NGN12.73 billion, and exchanged in 45,068 deals. Transactions in the shares of Sterling Financial Holdings Company led the activity with 124.618 million shares worth N980.635 million. UPDC followed with account of 40.091 million shares valued at N130.365 million, while Access Holdings traded 36.844 million shares valued at N811.552 million.

Honeywell Flour Mills traded 33.775 million shares worth N490.085 million, while United Capital traded 28.347 million shares worth N469.144 million.

On market performance, APT Securities & Funds Limited said, “overall, the session was characterized by bearish sentiment and weaker trading activity, as selling pressure drove the market lower.”

Looking ahead, Cowry Assets Management Limited noted that the market is expected to sustain its bearish momentum due to ongoing profit-taking, though strategic investor repositioning could potentially shift the tide in the coming sessions.