The Nigerian stock market delivered a stellar performance in July 2025, with the NGX All-Share Index (ASI) gaining 16.57 percent. This marks the exchange’s strongest monthly return since January 2024, when the market posted a record 40 percent gain.
The benchmark index closed July at an all-time high of 139,863.52 points, after notching a 0.42 percent rise on the final trading day of the month. The index had opened the month at 119,978.57 points, recording a monthly increase of 19,885 points.
This marks the first time since January 2024 that the market has seen such robust growth within a single month. Back then, the ASI jumped from 74,773.77 points to 104,674.67, delivering a historic 40 percent gain.
In July, the market added N12.47 trillion in value, with the total market capitalization climbing from N75.95 trillion to N88.43 trillion. The surge was underpinned by a rare and sustained bullish streak. During the month, the market closed higher on every single trading day, 22 consecutive sessions, from July 1 to 31. This surpassed the 14-day bullish run seen in 2024 between January 10 and 29.
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On August 1, the market’s bullish run continued with a 1 percent gain to hit a record high 141,263.05 points. Year-to-date, the NGX has now gained 37.25 percent, fast approaching its full-year return of 37.65 percent recorded in 2024.
Gains driven by massive trading activity
Trading activity also spiked to new heights. The bourse posted a cumulative monthly trading value of N907.5 billion, the highest seen in recent memory. A significant driver of this volume was the landmark N323.45 billion First Bank HoldCo block trade that occurred on July 16, which boosted weekly turnover substantially.
Among standout performers, UACN led the rally, soaring by 96 percent to close the month at N80.30. In doing so, the stock broke past its previous high of around N65, last seen in January 2014.
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Okomu Oil also made headlines as it joined the league of N1 trillion market cap stocks. The share price surged 33 percent in July, from N790 to N1,055, cementing its status as a heavyweight in the agribusiness sector.
MTN Nigeria followed closely, recording a 32 percent gain during the month to close at N472, continuing its impressive 2025 stock market run.
With investor sentiment still buoyant and strong earnings expected in the coming weeks, analysts suggest the NGX may be on track to surpass its 2024 record before year-end.
