…as banking stocks lead July rally
Nigeria’s equities market staged a strong July rebound, adding about N10.9 trillion in market capitalisation as investors repositioned for half-year earnings and piled into banking, insurance, and other large-cap stocks.
The NGX All-Share Index (ASI) increased by 6.92 percent month-on-month to 245,283.68 points, from 229,419.18 points at the end of June, while total market capitalisation rose to N158.33 trillion from N147 trillion reported on June 30.
The July rally lifted the market’s year-to-date return to 57.62 percent, equivalent to a 69 percent gain in dollar terms, according to the July 2026 Nigerian Macroeconomic and Markets Report by Commerico Partners.
The recovery marks a sharp reversal from the June correction and represents the third-best monthly performance of the NGX in 2026, behind February and April.
