The Nigerian Exchange Limited (NGX) has recorded a remarkable surge in transactions, with total volume increasing by 133.09 per cent from N778.6 billion in June 2025 to N1.8 trillion in July 2025.
This significant growth is attributed to a robust 17.03 per cent month-to-date return, driven by resilient performances in the banking and consumer goods sectors.
The latest NGX Domestic and Foreign Portfolio Investment Report for July showed that domestic transactions dominated the market, surging 161 per cent from N639.3 billion to N1.7 trillion, while foreign transactions rose by 4.76 per cent from N139.3 billion to N145.9 billion.
Analysts attributed the rally to investors’ strategic positioning in fundamentally sound stocks, supported by improved profitability projections from listed firms and a wave of earnings forecasts for the remainder of 2025.
The NGX All-Share Index rose 0.42.per cent on July 31, closing at a record 139,863.67 points, marking a 21-day consecutive rally.
The market’s total capitalisation reached N88.4 trillion by July’s end, fueled by investor optimism amid strong corporate earnings and ongoing macroeconomic reforms.
The NGX’s strong July performance signals robust market confidence, with analysts expecting sustained policy reforms, improved foreign exchange market stability, and rising participation in equity markets by institutional investors to drive further growth.
The Nigerian equities market witnessed a remarkable surge in July 2025, with investors recording a staggering gain of N12.5 trillion in market capitalisation over the 31 days
According to data from the NGX, the total market capitalisation of listed equities rose from N75.951 trillion at the close of trading on June 30, 2025, to N88.424 trillion by the end of July, representing a N12.5 trillion or 14 per cent gain month-on-month.
This is one of the largest single-month gains in recent years, highlighting the return of bullish sentiment across key sectors.
The breakdown of transactions in July 2025, showed that domestic investors outperformed foreign investors by approximately 84 per cent in terms of transaction value.
Also, institutional investors outperformed retail investors by 38 per cent. A breakdown of domestic transactions shows that retail transactions increased by 88.07 per cent from N274.6 billion to N516.5 billion, while institutional transactions rose significantly by 216.03 per cent from N364.71 billion to N1.1526 trillion.
Looking at the long-term trend, over 18 years, domestic transactions increased by 33.15 per cent from N3.556 trillion in 2007 to N4.735 trillion in 2024, while foreign transactions rose by 38.31 per cent from N616 billion to N852 billion. In 2024, domestic transactions accounted for about 85 per cent of total transactions, while foreign transactions accounted for about 15 per cent.
The 2025 transaction data also indicated that the total domestic transactions are approximately N4.7 trillion, while total foreign transactions are around N1.28 trillion.
An independent investor, Amaechi Egbo, described the recent surge in volume of transactions as a clear reflection of renewed investor confidence, largely spurred by a combination of favourable macroeconomic reforms, policy clarity from the monetary authorities, strong corporate earnings, and an improving foreign exchange landscape.
He pointed out that the equity market’s upward trajectory is not accidental but rooted in increasingly positive investor sentiment, which is being fuelled by clearer monetary policies, a more stable exchange rate environment, and strong earnings posted by many listed companies across critical sectors of the economy.
