Nigerian Exchange Index Rises 1.20% on August's Last Day

On 31 August, the Nigerian Exchange Limited reported a 1.20% increase in the All-Share Index, concluding August with a year-to-date return of 56.93%. Despite a cumulative decline of 0.44% for the month, strong investor demand, particularly in mid- and small-cap stocks like Ikeja Hotel Plc, SUNU Assurances Nigeria Plc, and Sovereign Trust Insurance Plc, indicated renewed market interest.

Total transaction value surged by 29.65% to N38.66 billion, with 606.13 million shares traded across 53,364 deals. The equity market capitalization closed at N157.74 trillion, a slight decrease from N158.33 trillion in July, but increased in dollar terms from $115.72 billion to $118.34 billion.

Financial market experts predict continued positive momentum, driven by anticipated portfolio adjustments ahead of Nigeria's reclassification from "Unclassified" to "Frontier Market" status by FTSE Russell, effective 21 September 2026. S&P Dow Jones Indices has also placed Nigeria on its watch list for potential reclassification in 2027.