FTSE Russell reclassification: NGX investors gain N228bn as market sustains 8-day rally
A fresh chapter has opened for the Nigerian Exchange Limited, NGX, following FTSE Russell’s reclassification of Nigeria from Unclassified to Frontier Market status on Monday, September 21, 2026. The development triggered a N228 billion gain for investors as the capital market sustained its eight-day rally on Monday. Specifically, NGX market capitalisation, which opened at N162.157 trillion,…
On September 21, 2026, the Nigerian Exchange Limited (NGX) experienced a reclassification by FTSE Russell, moving Nigeria from Unclassified to Frontier Market status. This shift triggered a significant N228 billion gain for investors, as the capital market continued its eight-day rally. The NGX market capitalization, which began at N162.157 trillion, surged to close at N162.385 trillion, marking a 0.14 percent increase.
Likewise, the All-Share Index (ASI) rose by 0.14 percent, or 352.24 points, to close at 250,156.80 points. The year-to-date return for the market reached 60.76 percent, while market breadth closed positively, with 39 gainers and 26 losers. Key gainers included Nascon Allied Industries, Sunu Assurances, Thomas Wyatt Nigeria, Critical Minerals Financing Corp, and Omatek Ventures, each climbing by 10 percent.
Conversely, Okomu Oil and Custodian Investment experienced declines, with Okomu Oil falling by 10 percent and Custodian Investment by 9.13 percent. Zenith Bank led market activity in terms of both volume and value, with 77.07 million shares and N9.90 billion traded, representing 13.42 percent and 26.01 percent of the total volume and value, respectively.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
