Banking Stocks Lift NGXASI 0.54% as Market Snaps Two-Day Losing Streak; BDC Rate Closed Flat at N1,415/US$1
Snapshot
The Nigerian equities market rebounded on Friday, July 17, 2026, snapping a two-session losing streak as renewed buying interest in banking and other large- and mid-cap stocks lifted the benchmark index and boosted investors’ wealth.
Demographics
The benchmark NGX All-Share Index (ASI) increased by 0.54% to close at 243,462.13 points, up from 242,145.61 points in the previous session. Investors’ wealth increased by approximately N849.28bn, while the market’s year-to-date (YTD) return increased to 56.45%.
The positive performance was primarily driven by gains in banking heavyweights and selected consumer goods stocks like FIRSTHOLDCO (+10.00%), UBA (+2.82%), FIDELITYBK (+2.82%), ZENITHBANK (+2.70%), UNILEVER (+2.48%), GTCO (+1.73%), WEMABANK (+1.50%), ACCESSCORP (+1.42%), TIP (+0.67%), NB (+0.54%), MTNN (+0.36%), DANGSUGAR (+0.07%), among the major gainers, alongside gains in 22 others.
Financial Markets News
Market sentiment also strengthened, with 34 gainers outnumbering 23 losers, resulting in a positive market breadth. The performance reflects renewed investor appetite for fundamentally sound stocks, particularly within the banking sector, which helped offset profit-taking and supported the market’s return to positive territory. FIRSTHOLDCO topped the gainers’ chart, trading above its 52-week high (N87.25) at N95.95, while REDSTAREX led the decliners.
The Proshare Memorandum Indexes also closed bullish for the day, with the market cap-weighted index up 0.89% to 1,378.27 points from 1,366.14 points in the previous session, while the total return float-adjusted index climbed 2.81% to 1,032.06 points from 1,003.88 points.
Volume and Value Contribution
Market activity strengthened during the session, as total volume traded advanced by 37.60% to 685.87m, valued at N42.68bn across 44,134 deals. FIRSTHOLDCO recorded the highest volume and value, with 225.91m units traded at N20.97bn, accounting for 32.94% and 49.12% of the day’s volume and value, respectively. GUINEAINS and ZENITHBANK accounted for 8.26% and 7.78% of the total volume, respectively, while BUACEMENT and ZENITHBANK followed FIRSTHOLDCO in traded value
NGX Earnings Summary
Corporate Results
Financial Statement – NGXSFS Real Estate
- Investment Trust Q2 2026 Financial Statement – NGX
- Thomas Wyatt Nig. Plc Q4 2026 Financial Statement – NGX
- Lasaco Assurance Plc Q2 2026 Financial Statement – NGX
NGX Corporate News
- UH Real Estate Investment Trust KPM as of June 30, 2026 – NGX
- SFS Real Estate Investment Trust Key Performance Metrics – NGX
- BUA Foods Plc Resolutions Passed At 5th Annual General Meeting – NGX
For more analysis of the NGX-listed equities, click here.
1.2 NASD OTC Exchange – Unlisted Equities
Investing
Conversely, the unlisted NASD Securities Index (NSI) closed slightly bullish on Friday, rising 0.04% to close at 4,320.67 points from 4,318.87 points on Thursday.
The total volume traded declined to 777,002, valued at N63.53m, across 33 deals.
At the close of trading, the NASD OTC recorded one (1) gainer and one (1) loser.
1.3 Global Indices
Global equities closed lower on Friday, as major stock markets registered broad-based declines. Japan’s Nikkei 225 led the weakest-performing major index, ending the session at 66,835.54 index points. For more updates on the global scene, click here.
1.4 African Indices
The prices in the African market were relatively favourable today. For the latest data and updates, please click here.
2. Bonds and Fixed-Income Markets
2.1 Debt Market Size
The Debt Market Size was unavailable at the time of this report’s publication.
2.2 Overnight and Open Repo (OPR)
The Overnight and Open Repo rates were unavailable while preparing the report.
3.1 AFEX Indices
On Friday, the AFEX Commodities Index (ACI) closed at 52.97 index points while the Export Index (AEI) closed flat at 37.85 index points. Data on AFEX Indices can be accessed here.
3.2 AFEX Commodity Prices
AFEX Commodity Exchange closed with all commodities unchanged on Friday. Click here to access more data on AFEX commodity prices.
3.3 LCFE Commodity Price(s)
Eko Gold, Premium Eko Rice, and Eko Rice Classic prices at the Lagos Commodities and Futures Exchange (LCFE) remained unchanged on Friday, closing at N140,000.00 per gram, N47,000.00 per 50kg, and N55,000 per 50kg, respectively.
3.4 Global Commodity Prices
Gold and Silver advanced by 0.44% and 0.04%, respectively, to close at US$4,005.42 and US$55.88. Meanwhile, Brent and WTI crude futures increased by 2.30% and 2.27%, respectively, to close at US$86.17 and US$80.74 as of 03:11 PM GMT on Friday, after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz.
The average BDC rate closed flat at N1,415/USD, while the NFEM rate also appreciated by 0.10% to N1,380.18/USD from N1,381.53/USD. For updates on the Nigerian FX Market, kindly click here.
Disclaimer
This Daily Market Report (DMR) is prepared based on research, market information, and data gathered and analysed with the best global practices. It is provided for informational and education
