NGX Wraps Up July on a Mixed Note Amid Investor Caution

The Nigerian Exchange (NGX) ended the final week of July 2025 with a marginal loss, reflecting investor hesitation following a mix of strong and weak corporate earnings. The All-Share Index (ASI) slipped by 0.19% to close at 101,698.52 points, narrowing the year-to-date return to 36.3%.

Investor sentiment was cautious amid profit-taking in large-cap stocks, particularly in telecom and consumer goods sectors. Losses in MTN Nigeria, Nestle Nigeria, and Dangote Cement exerted downward pressure on the market, despite some resilience in banking and industrial sectors. The banking index rose 0.42%, while industrial goods edged up 0.35%, supported by second-quarter earnings beats from leading banks such as Zenith Bank and GTCO.

Consumer goods and telecoms underperformed, declining by 1.11% and 0.73%, respectively. Nonetheless, trading activity remained active, with daily turnover averaging ₦7.92 billion — largely driven by strong interest in banking names. The insurance sector also saw increased participation following earnings releases from AIICO and NEM Insurance.

Looking ahead, investors are expected to remain cautious ahead of the Central Bank of Nigeria’s (CBN) next Monetary Policy Committee (MPC) meeting in August. With rising inflation and policy uncertainty, analysts forecast continued sideways trading in the near term.

Sources