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NGX added ₦849 billion as sustained buying in banking and insurance stocks pushed the benchmark index higher, reversing the previous session’s losses and lifting investor wealth.
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First Holdco surged another 9.97 percent to top the gainers’ chart, while HMCALL, LivingTrust, Wapic, and Lasaco recorded strong gains as investors maintained appetite for financial stocks.
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Market breadth strengthened to 33 gainers against 18 losers, reflecting broad-based buying despite profit-taking in Red Star Express, Jaiz Bank, and other select counters.
July 17 , (THEWILL) — Nigeria’s equities market ended the week on a strong note as renewed buying interest in banking and insurance stocks drove the Nigerian Exchange (NGX) higher, adding ₦849 billion to investors’ wealth.
Market capitalisation rose from ₦156.207 trillion at the opening of trading to ₦157.056 trillion at the close, while the All-Share Index (ASI) advanced from 242,145.61 basis points to 243,462.13 basis points.
The market recorded a healthy breadth of 33 gainers against 18 losers, underscoring sustained investor appetite for fundamentally sound equities despite pockets of profit-taking.
Banking stocks remained the major drivers of the rally, with First Holdco extending its remarkable run, while insurance counters also attracted fresh demand as investors repositioned ahead of the new trading week.
Top Gainers
1. FIRSTHOLDCO appreciated by 9.97 percent (climbing from ₦87.25 to ₦95.95).
2. HMCALL gained 9.94 percent (rising from ₦3.32 to ₦3.65).
3. LIVINGTRUST advanced 9.73 percent (moving from ₦3.39 to ₦3.72).
4. WAPIC increased by 7.44 percent (closing higher from ₦2.42 to ₦2.60).
5. LASACO appreciated 5.26 percent (advancing from ₦1.90 to ₦2.00).
Top Decliners
1. REDSTAREX fell 9.50 percent (declining from ₦22.10 to ₦20.00).
2. OMATEK shed 6.08 percent (dropping from ₦1.81 to ₦1.70).
3. CILEASING lost 5.93 percent (easing from ₦5.90 to ₦5.55).
4. JAIZBANK declined 5.03 percent (slipping from ₦8.95 to ₦8.50).
5. LIVESTOCK depreciated by 3.89 percent (closing lower from ₦9.00 to ₦8.65).
Meanwhile, Dangote Cement Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, Cadbury Nigeria Plc, Nestlé Nigeria Plc, and BUA Foods Plc, among other blue-chip stocks, closed flat for the session.
The week’s final trading session reflected continued rotation into banking and financial stocks, with investors taking advantage of renewed momentum in the sector while selectively booking profits in counters that had recorded strong gains in previous sessions.
Investor sentiment remained firmly positive, as evidenced by the wider market breadth and strong buying activity across financial stocks.
The sustained rally in First Holdco and renewed demand for insurance counters suggest confidence remains resilient, although investors are expected to remain selective amid ongoing portfolio rebalancing.
The market is expected to begin the new trading week on a cautiously positive note as investors continue to position in fundamentally strong banking and insurance stocks.
However, intermittent profit-taking in recently appreciated counters may temper the pace of gains.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
