The Nigerian stock market began the new trading week on a bullish note as investors pushed the All-Share Index (ASI) higher by 539.95 points to close at 126,689.54 on Monday, July 14, 2025. This marks a 0.43% gain compared to the previous close of 126,149.60, reflecting the continuation of the positive momentum that has characterised the market in recent months. Despite a minor dip in trading volume, the market capitalisation surged beyond the N80 trillion mark for the first time, reaching a new all-time high of N80.14 trillion.

This milestone reinforces the market’s strong upward trajectory, underpinned by investor optimism, a stable interest rate environment, improved corporate earnings, and continued foreign investor interest in blue-chip Nigerian stocks. The trading session also saw significant activities in banking, cement, and tech stocks, contributing to the market-wide rally.

Market Breadth and Investor Sentiment

While the trading volume declined slightly from the previous session, overall sentiment remained strongly positive. The day saw 1.29 billion shares traded in 39,431 deals, slightly lower than Friday’s volume of 1.39 billion shares, suggesting a marginal cooling in activity without undermining investor confidence. The sustained upward movement in the ASI indicates strong market breadth, with gains outpacing losses across most sectors.

Top Performing Stocks

Leading the gainers’ chart were several stocks that recorded near-maximum daily gains:

• NSLTECH appreciated by 10.00%, closing at N1.10 per share, likely driven by strong earnings expectations and increased investor demand for low-cap tech stocks.
• ABBEYBDS climbed 9.99% to settle at N7.60, following renewed interest in the financial services sector.
• IKEJAHOTEL rallied by 9.95%, ending the day at N22.10, possibly buoyed by improved hospitality outlook amid increased travel and tourism.
• MCNICHOLS gained 9.92% to close at N4.32, while TRIPPLEG rose by 9.78% to N3.93, completing the top five gainers of the session.

These strong performances reflect increased investor confidence in mid- and small-cap stocks, particularly those with positive earnings outlooks or strategic growth plans.

Worst Performing Stocks

Conversely, several stocks fell to their daily loss limits, highlighting some caution among investors:

• TANTALIZER dropped by 10.00% to close at N2.70
• CUTIX fell 10.00% to N4.14
• RTBRISCOE declined 10.00% to N3.96
• CAVERTON lost 10.00%, ending the session at N7.20
• NEIMETH depreciated by 9.95% to N8.24

These declines may reflect profit-taking in some sectors or weaker-than-expected earnings guidance.

Most Traded Stocks by Volume

Activity on the volume chart was led by ACCESSCORP, which posted a robust 138 million shares traded. Following closely was JAPAULGOLD, with 93.37 million shares, maintaining momentum driven by recent corporate announcements. AIICO trailed slightly behind, also recording 93.35 million shares, with UBA and JAIZBANK rounding out the top five, trading 68.7 million and 59.6 million shares, respectively.

The high level of activity in these stocks underscores strong investor interest in financial and insurance sector equities, as well as speculative interest in penny stocks.

Top Traded Stocks by Value

In terms of value, SEPLAT topped the list with transactions worth N5.3 billion, driven by its standing as one of Nigeria’s leading energy firms with consistent dividend payouts. ACCESSCORP followed with N3.5 billion, while ZENITHBANK and UBA posted N3.1 billion and N3.05 billion respectively. GTCO completed the top five with N1.9 billion in value traded.

This trend reveals strong investor confidence in Tier-1 banks and the oil and gas sector, two areas that continue to attract institutional investor flows.

SWOOTs and FUGAZ Group Performance

Among the SWOOTs (Stocks Worth Over One Trillion Naira):

• BUA CEMENT posted a notable gain of 5.32%, reflecting continued investor confidence in the cement industry amid rising infrastructure projects.
• DANGOTE CEMENT also advanced by 1.18%, further boosting market capitalisation.
• Meanwhile, INTERNATIONAL BREWERIES fell sharply by 9.09%, possibly reacting to weak consumer demand and rising operational costs.
• FIDELITY BANK dipped by 0.94%, a relatively modest decline amid general banking sector optimism.

Within the FUGAZ group (Nigeria’s leading banks), performance remained mixed but generally positive:

• UBA led with a solid 5.63% gain, continuing its strong performance streak.
• ZENITH BANK followed with a 2.58% rise, supported by positive investor sentiment.
• FIRSTHOLDCO climbed 0.51%, indicating investor preference for holding companies with diversified exposure.
• ACCESSCORP edged up by 0.40%.
• However, GTCO recorded a marginal decline of 0.27%, potentially reflecting sectoral rotation by investors.

Market Outlook and Investor Sentiment

Looking ahead, analysts expect the bullish momentum to continue if key macroeconomic indicators remain stable. The ASI’s firm hold above the 126,000 mark, along with the historic crossing of the N80 trillion market cap milestone, signals sustained investor confidence and market resilience.

If investors continue to view current market valuations as reasonable and earnings season delivers positive surprises, the broader market could experience further upside in the coming sessions. Additionally, strong performance by bellwether stocks like SEPLAT, ZENITH BANK, and BUA CEMENT will likely sustain upward momentum.

However, analysts also caution that external risks—including oil price volatility, foreign exchange fluctuations, and inflation concerns—could moderate gains if not addressed through effective fiscal and monetary policy coordination.

In conclusion, the Nigerian stock market remains firmly in a bullish phase, underpinned by strong corporate earnings, renewed investor interest, and a growing appetite for equities among both local and international investors. While short-term volatility is inevitable, the market’s long-term outlook remains favorable, especially if reform policies translate into broader economic growth.