The Nigerian Exchange Group (NGX) closed July 2025 on a historic high, driven by sustained investor confidence and a bullish market trend. The NGX All-Share Index (ASI) surged from 119,741.23 points at the start of July to 139,863.52 points by the end of the month, reflecting a 16.8% increase. Similarly, the Equity Market Capitalization expanded from approximately ₦75.8 trillion to ₦88.42 trillion, representing a 16.7% month-on-month growth.
Performance Comparison: Start vs End of July 2025
| Market Component | Start (1–2 Jul 2025) | End (31 Jul 2025) | Absolute Change | % Growth |
|---|---|---|---|---|
| Equity Market Cap | ₦75.8 trillion | ₦88.42 trillion | +₦12.62 trillion | +16.7% |
| All-Share Index (ASI) | 119,741.23 points | 139,863.52 points | +20,122.29 points | +16.8% |
| Fixed Income Market Cap | Data not available | ₦51.38 trillion | — | — |
| ETPs Market Cap | Data not available | ₦32.30 billion | — | — |
Factors Driving July’s Market Rally
- Sustained bullish momentum: The NGX recorded 21 consecutive trading sessions of all-time highs, supported by renewed foreign portfolio inflows and positive investor sentiment.
- Mid-month strength: By mid-July, the market gained 4.26% in a single week, with the ASI crossing 128,900 points and maintaining a positive market breadth.
- Blue-chip dominance: Stocks such as Nigerian Breweries, Guinness, and Wema Bank were among the top gainers in the last trading week, reinforcing market optimism.
- Resilient investor activity: Increased liquidity and consistent trading volumes signaled sustained confidence from both domestic and foreign investors.
Fixed Income and ETPs Market Performance
- The Fixed Income Market Cap closed at ₦51.38 trillion, reflecting a modest 0.20% daily increase on July 31.
- The ETPs Market Cap ended at ₦32.30 billion, rising by 1.61% in the final session of the month.
- While opening values for these segments were unavailable, their end-of-month strength shows stable demand across diversified investment classes.
Key Takeaways for Investors
- The Nigerian equities market posted double-digit growth in July 2025, reaffirming its position as one of Africa’s leading stock markets.
- The 16.7% increase in market capitalization highlights growing investor participation and improved liquidity.
- The NGX’s performance reflects heightened investor confidence, positioning it favorably for the third quarter of 2025.
Market Outlook
The NGX’s record-breaking close in July 2025 signals continued positive momentum into August. The combination of strong fundamentals, foreign inflows, and positive economic indicators supports further bullish activity.
For investors, the Nigerian Stock Exchange remains a compelling destination, with July’s performance setting a new benchmark for market resilience and profitability.
