Nigerian Stocks Rally 2.36% as Market Capitalization Grows

For the week ending September 4, 2026, Nigerian equities experienced a continued rally, with the NGX All-Share Index (ASI) rising 5,693.97 points, or 2.36%, closing at 246,992.44 points, up from 241,298.47 points the previous week. The market capitalization increased by approximately N3.72 trillion, reaching N159.54 trillion.

The year-to-date return improved to 58.72%, following FTSE Russell's confirmation of Nigeria's reclassification from "Unclassified" to "Frontier Market" status. The positive performance was largely attributed to improved investor sentiment and sustained buying pressure, particularly in the Oil & Gas, Consumer Goods, and Insurance sectors.

Royal Exchange was the standout performer, surging 25.00% to close at N1.10, while Beta Glass led the losers with a 17.38% decline. Trading activity saw a significant increase, with total turnover rising to 4.360 billion shares worth N210.331 billion in 223,284 deals.

Sector performance was generally positive, with four of five tracked indices closing higher, except for the NGX Industrial Goods Index, which declined by 0.35%.