Nigerian equities extended their rally into a second straight week, with the benchmark NGX All-Share Index (ASI) rising 5,693.97 points, or 2.36%, to close at 246,992.44 points, up from 241,298.47 points the previous week.
Market capitalisation increased by approximately N3.72 trillion during the week to close at N159.54 trillion.
The market’s year-to-date return improved to 58.72%, extending the recovery that followed FTSE Russell’s confirmation of Nigeria’s reclassification from “Unclassified” to “Frontier Market” status.
The week’s positive performance was driven largely by improved investor sentiment following the reclassification news, alongside sustained buying pressure across selected counters, particularly in the Oil & Gas, Consumer Goods and Insurance sectors.
Royal Exchange emerged as the week’s standout performer, surging 25.00% to close at N1.10 from N0.88, while Beta Glass led the losers with a sharp 17.38% decline.
Trading activity strengthened considerably, with total turnover rising to 4.360 billion shares worth N210.331 billion in 223,284 deals, compared with 2.507 billion shares valued at N123.223 billion in 173,561 deals the previous week, increases of 73.93% in volume, 70.73% in value, and 28.69% in deal count.
Fifty-six equities appreciated in price during the week, higher than the 24 recorded the previous week. Thirty-five equities depreciated, lower than 55 the week before, while 56 remained unchanged, down from the 68 previously recorded.
Nairametrics analysis of NGX weekly data shows that the week’s sterling performance was largely driven by gains in heavyweight stocks supporting Nigerian Breweries’ gains:
This week’s heavyweight advancers lifted the month-to-date return to +1.1%.
Sector performance was broadly positive, with four of five tracked indices closing higher, while Industrial Goods was the sole decliner.
In contrast, the NGX Industrial Goods Index declined 0.35% to 10,342.50 points, weighed down by profit-taking in Beta Glass, BUA Cement and Cutix.
Coronation Insurance Plc listed an additional 4.53 billion ordinary shares on Monday, August 31, 2026, arising from its private placement at N2.16 per share, raising the company’s total issued shares from 23.99 billion to 28.53 billion.
Regency Alliance Insurance Plc listed an additional 2,674,385,062 ordinary shares on September 4, arising from a Rights Issue at N0.95 per share on the basis of one new share for every five held, raising total issued shares from 16.01 billion to 18.68 billion.
The week’s 2.36% ASI gain extends the recovery that began the previous week, with the rally broadening across banking, energy, insurance and consumer goods stocks even as Industrial Goods lagged.
Nairametrics analysts expect investor risk appetite to remain positive, with buying interest likely to stay concentrated in fundamentally sound stocks recently granted Frontier Market eligibility by FTSE Russell, ahead of Nigeria’s formal reclassification from “Unclassified” to “Frontier Market” status, effective from market open on September 21, 2026.
