Nigerian Equities Market Gains N1.38 Trillion on Rally

On August 28, 2026, the Nigerian equities market saw a robust rally, achieving its strongest single-session gain in three weeks, with the benchmark NGX All-Share Index (ASI) increasing by 0.90% to close at 241,298.47 points, up from 239,156.09 points. This surge resulted in a market capitalization rise to N155.83 trillion, adding approximately N1.38 trillion to investor wealth.

The positive market sentiment followed FTSE Russell's announcement on August 27, 2026, regarding Nigeria's reclassification under its frontier market index. Notable performances included Seplat Energy, which surged 10.00% to N12,320.60, and FirstHoldCo, which advanced 7.41% to N145.00.

The banking sector saw a significant uplift, with the Banking Index rising by 2.34 percentage points. Despite some declines in stocks like Ecobank Transnational Incorporated (ETI) and MTN Nigeria, the overall market breadth improved, with 33 gainers against 19 losers.

Trading volume increased by 21.04% to 605.17 million shares.