First HoldCo tops gainers’ chart as NGX investors gain N11.1trn in July

The Nigerian Exchange Limited (NGX) rebounded strongly in July 2026, with investors gaining N11.109 trillion as renewed interest in banking stocks lifted the market after the N13.3 trillion loss recorded in June.

The rally was driven largely by sustained buying in banking stocks, led by First HoldCo Plc, amid expectations of robust half-year corporate earnings, ongoing bank recapitalisation and increased institutional participation.

Market capitalisation rose by 7.55 per cent to close the month at N158.326 trillion, compared with N147.217 trillion at the beginning of July.

The NGX All-Share Index (ASI) also gained 15,864.45 points, or 6.92 per cent, to close at 245,283.63, against 229,419.18 recorded at the start of the month.

Trading remained largely positive, with the market recording 12 gaining sessions and 11 losing sessions during the 23 trading days in July.

Market activity also improved as investors traded 17.817 billion shares worth N1.184 trillion in 1,166,154 deals, compared with 16.292 billion shares valued at N855.994 billion exchanged in 1,227,430 deals in June.

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Among the major gainers were Aradel Holdings, MTN Nigeria, Dangote Cement, HBM Nigeria, Nigerian Aviation Handling Company (NAHCO), Transcorp Hotels, NGX Group, Africa Prudential, and Unilever Nigeria.

Banking and insurance stocks also posted impressive gains, with First HoldCo rising from N56.05 to N129.55, United Bank for Africa (UBA) from N38.40 to N44.50, Zenith Bank from N110 to N123.55, GTCO from N125 to N130, while AIICO Insurance and AXA Mansard Insurance also advanced.

However, Nestlé Nigeria, Presco Plc, Vitafoam Nigeria, Legend Internet, Omatek Ventures, and Neimeth International Pharmaceuticals closed the month lower.