Nigerian stocks rise 1.6% as banking and consumer goods boost market cap

The Nigerian equities market ended the week on a firm note, with the All Share Index climbing 1.6% to 247,357.40 points and market capitalisation gaining N2.53 trillion to close at N159.59 trillion, lifting the year‑to‑date return to 58.96%. Gains were driven by strong performance in banking and consumer goods stocks, boosted by the additional listing of 12.32 billion shares of Linkage Assurance Plc on the NGX.

The rally signals growing investor confidence in Nigeria’s equity market, suggesting potential for higher returns on stocks and influencing decisions for individual investors, pension funds, and those considering market entry. Broad‑based buying lifted volume 57% to 4.43 billion shares worth N306.1 billion, with financial services accounting for over three‑quarters of activity.

Top gainers included UPDC REIT (+33.33% to N14.20) and First HoldCo (+25.59% to N120.50), while notable decliners were Mecure Industries (−26.97%) and Presco (−10.00%). Corporate actions saw Aluminium Extrusion Plc suspended for late filings, Linkage Assurance’s rights issue, and dividend‑adjusted price cuts for stocks such as Transcorp Power and Mutual Benefits. Analysts expect the positive bias to continue as banking and industrial earnings emerge, prompting investors to review sector exposure and consider dividend‑adjusted prices in their strategies.

SOURCE: https://nairametrics.com/2026/07/26/best-performing-nigerian-stocks-for-the-week-ended-july-24-2026/