Access Holdings, UBA, Jaiz Bank Lead as Investors Push NGX to 23.09% YTD Return

The Nigerian Exchange Limited (NGX) opened the week higher as industrial and banking stocks drove a 0.43 percent gain on Monday and pushed the year-to-date return to 23.09 percent.

Market capitalisation rose from ₦79.803 trillion to ₦80.143 trillion, while the All-Share Index (ASI) appreciated from 126,149.59 points to 126,689.54 points.

This reflects sustained investor confidence and increased participation in the Nigerian equities market.

Investor activity remained strong with 1,286,687,678 shares exchanged in 39,431 deals valued at ₦32.204 billion.

Top traded equities included Access Holdings, Japaul Gold, AIICO Insurance, United Bank for Africa (UBA) and Jaiz Bank.

The market’s performance so far in July has been robust, posting a 5.59 percent gain month-to-date. Analysts attribute the rally to renewed interest in key sectors, supported by favourable macroeconomic sentiment and improved second-quarter corporate earnings expectations.

Industrial goods and banking stocks remain the dominant drivers of the current market momentum. The sectoral performance reflects investors’ strategic positioning in fundamentally strong and high-dividend-yielding stocks, particularly in the financial sector.

Access Holdings and UBA continue to attract strong institutional interest due to their expansive asset base, stable earnings outlook, and consistent dividend history.

Jaiz Bank has also recorded increased retail participation, reflecting a broader diversification of investor appetite across mid-tier financial institutions.

The positive sentiment has translated into consistent capital inflows, highlighting the Nigerian equity market’s resilience amid global economic uncertainties and domestic monetary policy adjustments.

Market analysts expect the bullish trend to continue in the short term, driven by portfolio rebalancing ahead of the release of half-year earnings reports, corporate actions and anticipated monetary policy clarity.

The NGX’s performance underscores growing investor appetite for risk assets in Africa’s largest economy, positioning the local bourse for sustained capital formation and deeper market liquidity.