By Daniel Wesonga, Senior Sales Manager, Pepperstone
29th July, 2025:
Nigerian equities extended their gains on Monday, with the NGX All Share Index trading above the 134,500 level as broad-based sectoral strength continued to underpin market sentiment. Most sectors were in positive territory, led by electronic technology, consumer durables, and non-durables. Among heavyweight stocks, MTN Nigeria, Lafarge Cement WAPCO, and Presco advanced, while Guaranty Trust Holding and Zenith Bank traded lower during the early session.
Transcorp Hotels reported a 60.07% year-on-year increase in revenue to NGN 47.57 billion and profit after tax of NGN 8.68 billion in its half-year unaudited results. Dangote Cement edged higher after posting a 17.7% revenue increase to NGN 2.07 trillion, with profit after tax of NGN 520.5 billion, reinforcing strength in the industrial segment.
Meanwhile, Nigeria’s economic re-engagement with China continues to gain traction, with USD 20 billion in new investment pledges across agriculture, energy, and manufacturing. Significant FDIs could help support the market’s upside. Additionally, the OECD-FAO Agricultural Outlook projects a 2.7 million tonne increase in Nigeria’s cereal output over the next decade, driven by productivity gains and expanding domestic demand. The latter could support a positive sentiment among market participants.