PZ, others push market to open H2 in red

Nigeria’s stock market opened the second half (H2) of 2025 in red, after decreasing by 0.20 percent at the close of trading on Tuesday, July 1. PZ Cussons and other major laggards on Tuesday caused the market’s negative close. PZ decreased from N38 to N35, down by N3 or 7.89 percent.

Also, the share price of University Press, another major decline, dipped from N5.60 to N5.04, losing 56kobo or 10percent, while SCOA dropped from a high of N5.39 to N4.86, losing 53kobo or 9.83 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation decreased from the preceding day’s highs of 119,978.57 points and N75.951 trillion, respectively, to 119,741.23 points and N75.801 trillion. In 21,546 deals, equities traders exchanged 527,079,776 shares valued at N11.277billion.

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Analysts at Vetiva Research had, ahead of market open, said it remains “in a wait-and-see mode”.

This outlook came despite that the stock market rallied remarkably in June as investors gained about N5.49trn following record gains in consumer goods, insurance, and banking stocks.

According to Vetiva analysts, while there is cautious optimism around a potential rebound in the banking sector in Tuesday’s session, “the risk of continued profit-taking in these names persists and that could dampen overall market sentiment”.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.