The Nigerian Exchange (NGX) recorded N237.8 billion in market gains during the first week of August, signaling persistent investor confidence in the local equities market.
The weekly advance underscores a broader trend of capital inflows and positive sentiment that has characterized the market's performance in 2026.
This latest surge builds on a robust start to the year, with investors having realized cumulative gains of N58.97 trillion during the first seven months of 2026.
The sustained upward trajectory is largely attributed to strong corporate earnings reports and a stable macroeconomic environment that has encouraged both domestic and foreign institutional participation.
Market capitalization on the NGX reached N159 trillion by late July, reflecting a N2 trillion increase driven by consistent buying across core sectors.
The banking and financial services segments, often referred to as the 'FUGAZ' stocks, have been primary contributors to this valuation growth, anchoring the market's resilience amid global volatility.