Nigerian Equities Market Gains N1.91trn, Index Rises 1.20%

On Monday, the Nigerian equities market began the trading week positively, with the benchmark NGX All-Share Index (ASI) increasing by 1.20% to close at 244,199.39 points, up from 241,298.47 points recorded on Friday. This bullish performance resulted in a market capitalisation increase of approximately N1.91 trillion, with the year-to-date return rising to 56.93%.

The gains were primarily driven by significant advances in heavyweight stocks, including IKEJAHOTEL (+9.95%), ETI (+8.98%), and ACCESSCORP (+8.81%). The market breadth improved, with 43 equities advancing against 16 decliners.

Total volume traded increased by 0.17% to 606.19 million, valued at N38.70 billion across 53,471 deals. ACCESSCORP recorded the highest volume with 126.54 million units traded, while MTNN had the highest value at N5.72 billion.

This positive movement followed FTSE Russell's confirmation of Nigeria's reclassification to Frontier Market status, effective September 21, 2026, after concerns regarding the T+1 settlement cycle were addressed by the Securities and Exchange Commission.