Nigeria Stock Market Continues Rally, Ranks Among Best-Performing in Africa

• The Nigerian stock market recorded another positive performance, helping investors grow their investments
• The latest upward movement follows the decision by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)
• In 32,365 deals, investors exchanged 762,595,236 shares valued at N26.43 billion during Tuesday’s trading session

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigeria’s stock market maintained its positive trajectory on Tuesday, rising by 0.47% as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held key rates steady after its two-day meeting.

With a year-to-date (YtD) return of 28.69% as of Tuesday, Nigeria’s equities market is now ranked among Africa’s best-performing stock markets.

On Tuesday, CBN's MPC retained the Monetary Policy Rate (MPR) at 27.50%, maintained the asymmetric corridor around the MPR at +500bps/-100bps, kept the Cash Reserve Ratio (CRR) for deposit money banks at 50%, retained the CRR for merchant banks at 16%, and held the liquidity ratio at 30%.

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How the market performed on Tuesday

At the close of trading on Tuesday, July 22, 2025, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from the previous day’s 131,826.77 points to 132,451.73 points.

Market capitalisation increased from N83.393 trillion to N83.789 trillion.

Buying activities in stocks like Dangote Sugar Refinery, The Initiates, Sovereign Trust Insurance, Nigerian Enamelware, and University Press significantly drove the market upward.

Details of stock market activities on Tuesday

Here is a snapshot of the winners, losers, and stocks that led the market activities

• Dangote Sugar Refinery (DANGSUGAR) gained N5.10, rising from N51.00 to N56.10 per share (10.00%).
• The Initiates (TIP) added N1.10, moving from N11.03 to N12.13 per share (9.97%).
• Sovereign Trust Insurance (SOVRENINS) gained N0.12, increasing from N1.22 to N1.34 per share (9.84%).
• Nigerian Enamelware (ENAMELWA) rose by N2.00, from N20.35 to N22.35 per share (9.83%).
• University Press (UPL) increased by N0.55, from N5.60 to N6.15 per share (9.82%).

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Top losers

• Ellah Lakes (ELLAHLAKES) dropped N1.10, declining from N11.00 to N9.90 per share (-10.00%).
• Legend Intercontinental (LEGENDINT) fell N0.59, from N5.90 to N5.31 per share (-10.00%).
• FTN Cocoa (FTNCOCOA) declined N0.67, from N6.76 to N6.09 per share (-9.91%).
• Meyer Plc (MEYER) lost N1.85, falling from N18.90 to N17.05 per share (-9.79%).
• Thomas Wyatt (THOMASWY) dropped N0.33, moving from N3.39 to N3.06 per share (-9.73%).

Top active trades

• Access Holdings recorded a turnover of 102.88 million shares valued at N2.77 billion.
• Ellah Lakes traded 56.73 million shares worth N586.40 million.
• UBA exchanged 48.28 million shares valued at N2.28 billion.
• GTCO traded 32.75 million shares worth N3.18 billion.
• Lafarge Africa (WAPCO) recorded 30.53 million shares valued at N3.87 billion.

Naira falls in the official market

Earlier, Legit.ng reported that the naira continued its decline against the US dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), slipping by 0.2 per cent or N4.22 to close at N1,606.91/$1, compared to N1,602.69/$1 in the previous trading session.

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The local currency also depreciated against the British pound, losing N4.43 to trade at N2,137.73/£1, down from N2,133.30/£1.

Similarly, it fell against the euro by N1.51, settling at N1,821.75/€1 from the previous rate of N1,820.24/€1.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng