The Nigerian equities market entered a new chapter on Monday, September 21, 2026, after the NGX benchmark All-Share Index hit 250,156.80 points with the year-to-date returns reaching 60.76% after 0.14% daily gain, lifting total equities market capitalization to N162.39 trillion, the highest level ever seen in the twin performance indicators.
Stockbrokers said global passive and active funds are now reallocating capital to Nigeria even before the official September 21 FTSE Russell’s reclassification of Nigeria from Unclassified to Frontier Market status, a development they said triggered a sustained eight-session rally at the Nigerian Exchange (NGX).
The FTSE Russell restored Nigeria today, Monday, September 21, 2026, on its Frontier Market Index, reversing nearly three years of exile from global investment benchmarks.
Monday’s market closing statistics proved more constructive than the headline 0.14% gain suggested, as the market breadth widened to 39 advancers against 25 decliners. Trading volume jumped 9.16% to 574.19 million units worth N38.06 billion across 68,655 deals, up 54.85% from 44,293 in the prior session, with investors’ positions more widespread, suggesting broader-based demand across sectors and stocks.
The rally was largely driven by gains from large-cap names including HBMNG (+2.8%), GTCO (+3.0%), TRANSCORP (+6.8%) and NASCON (+10.0%), which offset losses in Aradel Holdings and a couple of other blue-chip decliners.
As measured by market breadth, market sentiment was positive with 39 stocks posting gains relative to 25 losers. SUNUASSUR (+10.0%) and OMATEK (+10.0%) led the gainers, while OKOMUOIL (-10.0%) and CUSTODIAN (-9.1%) posted the most significant losses of the day.
Adonri and Olayinka both acknowledged that international market announcements—FTSE Russell, JPMorgan, S&P upgrades—have improved market sentiment structurally.
The stockbrokers also cited local investors simultaneously absorbing selling pressure from IPO-driven liquidations while accumulating shares at depressed valuations. This domestic support will likely persist through October 13, when the Dangote IPO closes, according to Olayinka’s assessment.
