WED JULY 22 2026-theGBJournal| Nigeria’s equities market edged higher on Tuesday, extending its recent rally despite a sharp reversal in the naira, which weakened at the official market after posting gains over the past week, while the parallel market also came under renewed pressure.
The divergence underscores investors’ continued appetite for equities even as foreign exchange volatility persists.
The Nigerian Exchange (NGX) All-Share Index (ASI) rose 0.19 per cent to 246,659.56 points, lifting market capitalisation to N159.12 trillion.
The gain pushed the market’s year-to-date return to 58.51 per cent, up from 58.20 per cent in the previous session.
Investor demand for selected blue-chip and mid-cap stocks outweighed losses elsewhere, with Ikeja Hotel climbing 9.53 per cent, NGX Group advancing 7.15 per cent and BUA Cement adding 2.28 per cent.
Their gains more than offset declines in UBA (-2.89 per cent), Mecure Industries (-9.95 per cent) and Dangote Cement (-1.24 per cent).
Trading activity presented a mixed picture.
Total volume traded increased 9.49 per cent to 932.45 million shares, while the value of transactions slipped 0.63 per cent to N49.28 billion.
Access Holdings dominated market activity, accounting for 336.62 million shares valued at N8.65 billion.
Market breadth remained positive at 1.15 times, with 34 gainers against 22 losers, signalling sustained buying interest. UPDC REIT led the gainers with a 9.86 per cent advance, while Mecure Industries posted the steepest decline of the session, falling 9.95 per cent.
The optimism also extended to the over-the-counter market, where the NASD Securities Index gained 1.17 per cent to 4,393.97 points, raising market capitalisation to N2.64 trillion.
The market’s year-to-date return improved to 23.99 per cent.
However, activity on the NASD market slowed sharply. Trading volume plunged 99.39 per cent to 320,000 units, while transaction value dropped 89.84 per cent to N19.42 million across 27 deals.
SDFOODCPT emerged as the session’s best-performing stock with a 9.27 per cent gain, while SDGEFLUID was the only decliner, easing 0.43 per cent.
In the foreign exchange market, the naira surrendered part of the gains recorded over the past week, depreciating by 1.9 per cent to close at N1,375.43/$ in the official market.
The currency also softened in the parallel market, suggesting renewed demand for dollars after a period of relative stability, although it remains stronger than levels seen earlier in the month.
The latest currency pullback comes even as domestic equities continue to attract investors seeking inflation-resistant returns and exposure to companies with resilient earnings prospects.
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