Nigerian stocks dip 0.8% weekly despite N11.1trn July market cap gain

NGX All-Share Index closed at 245,283.68 points, down 0.03% day-on-day and 0.81% week-on-week; market cap fell N887bn week-on-week to N158.7trn, but month-to-date up 6.92% and YTD up 57.6%; volume surged 15% to 5.12bn shares worth N404.8bn; new listings AVACAP (5bn shares) and Fortis Global extra 15bn shares.

Despite the weekly pullback, the market added roughly N11.1 trillion to investor wealth in July alone, underscoring strong monthly momentum; banking shares slipped 0.69% week-on-week but remain up 66.7% year-to-date, while insurance and oil & gas sectors posted gains, with oil & gas up 96.3% YTD; higher trading volume signals heightened retail interest, presenting both opportunity for gains and risk of profit‑taking swings.

Investors might watch top gainers like Coronation Infrastructure Fund (+20.9%) and Lasaco Assurance (+18.7%), while noting losers such as Associated Bus Company (‑18.4%); banking stocks, despite the weekly dip, still offer strong YTD returns, suggesting a possible buy‑on‑dip stance; keep an eye on upcoming H2 earnings guidance from major firms, as mixed analyst outlook suggests caution; for those considering new entries, the recent listings of AVACAP and Fortis Global add liquidity but also increase supply, so assess valuation carefully.

SOURCE: https://nairametrics.com/2026/08/02/best-performing-nigerian-stocks-for-the-week-ended-july-31-2026/