Nigerian Stock Market Gains N1.91 Trillion on August 31

On August 31, 2026, Nigeria's stock market experienced a significant rally, gaining N1.91 trillion and closing the month with a slight loss of -0.4%. This rally followed FTSE Russell's announcement on August 27, 2026, confirming Nigeria's reclassification from "Unclassified" to "Frontier Market" status, which has positively influenced market sentiment.

The benchmark NGX All-Share Index (ASI) rose by 1.20%, closing at 244,199.39 points, up from 241,298.47 points the previous Friday. Market capitalization increased from N155.83 trillion to N157.74 trillion, with a year-to-date return of 56.93%.

Notably, Ecobank Transnational Incorporated (ETI) advanced by 8.98%, contributing to the banking sector's strong performance, which saw the Banking Index rise by 3.11%. The market displayed broad-based gains, with 43 stocks gaining against 16 decliners, indicating improved investor sentiment.

Trading volume increased by 0.17% to 606.19 million shares, and the market has now seen three consecutive sessions of gains.