Nigerian stocks gain N11.1 trillion in July driven by banking stocks rally
Nigerian equities added roughly N11.11 trillion to investors' wealth in July 2026 as buying interest in banking and other fundamentally strong stocks outweighed profit‑taking in consumer goods and oil & gas. This rebound boosts the value of portfolios, pension funds and savings tied to the exchange, directly affecting individual wealth and retirement outcomes. The market capitalisation of listed shares rose from N147.22 trillion at end‑June to N158.33 trillion at the close of July 31, a gain of N11.11 trillion. The NGX All‑Share Index climbed 6.92% to 245,283.68 points, up from 229,419.18 points at the end of June, after touching an intra‑month high of 247,984.55 points. The banking index led the rally with a 22.10% monthly rise, insurance gained 9.29%, industrial 3.57% and oil & gas 3.21%, while consumer goods fell 4.11%. Standout performers included First HoldCo Plc, whose share price jumped from N56.05 to N129.55 (+131.13%), and Airtel Africa, which rose more than 20% to N5,801.40. The rally erased most of the over‑N13 trillion loss recorded in June when profit‑taking weighed on the market. Year‑to‑date, the oil & gas index is up 96.3%, industrial 85.4% and banking 66.7%. Going into August, investors will watch half‑year earnings releases, dividend expectations, banking recapitalisation progress and CBN policy signals, all likely to shape near‑term sentiment.