Market Overview and Top Gainers
For the week ending July 10, 2026, the Nigerian Exchange (NGX) recorded mixed performance, with a number of stocks posting significant gains. The All-Share Index (ASI) closed the week at 52,000 points, representing a 0.5% increase from the previous week. Among the top performers, Dangote Cement (DANGCEM) led the pack, rising by 8.2% to close at N280 per share, driven by strong demand from institutional investors and positive earnings expectations.
Other Notable Gainers
Other stocks that made the top gainers list include MTN Nigeria (MTNN), which gained 5.6% to close at N200, and Airtel Africa (AIRTELAF), which rose by 4.3% to N1,500. The uptick in telecom stocks was attributed to renewed investor interest following the announcement of improved data revenue. Additionally, BUA Cement (BUACEMENT) added 3.9% to close at N85, while Zenith Bank (ZENITHBANK) appreciated by 2.8% to N30.
Top Losers for the Week
On the flip side, some stocks experienced declines. The biggest loser was Nestle Nigeria (NESTLE), which dropped by 4.5% to N1,200, amid concerns over rising input costs. Other decliners include Guinness Nigeria (GUINNESS), down 3.2% to N80, and Unilever Nigeria (UNILEVER), which fell by 2.1% to N45. The oil and gas sector saw mixed performance, with Seplat Energy (SEPLAT) declining by 1.8% to N1,100.
Market Drivers and Outlook
Analysts attribute the week's performance to a combination of factors, including foreign portfolio inflows and positive corporate earnings reports. According to a report from Meristem Securities, “The market is showing resilience despite macroeconomic headwinds, with select stocks offering value.” The total volume of trades increased by 12% week-on-week, indicating improved market participation. Looking ahead, investors are expected to focus on the upcoming half-year earnings season, which could drive further gains.
