NGX Equities Turnover Reaches N6.62 Trillion in August

At the end of August, the Nigerian Exchange Limited (NGX) reported a year-to-date equities turnover of N6.62 trillion, up from N5.98 trillion in July, indicating active investor participation despite profit-taking and price corrections. Approximately N640 billion worth of equities were traded in August, contributing to a 56.93% gain in the All-Share Index (ASI).

The market closed August with a 1.20% increase on the final trading day, supported by renewed buying interest, leading to a market capitalisation increase of about N1.91 trillion. The ASI closed at 244,199.39 points, reflecting a marginal decline of 0.44% from July.

Market capitalisation remained stable at N157.74 trillion, with a dollar valuation increase to $118.34 billion. The positive sentiment was bolstered by FTSE Russell's confirmation that Nigeria's reclassification to Frontier Market status will take effect on September 21, 2026.

This reclassification is expected to enhance investor interest in the Nigerian market.