FTSE Russell Index Inclusion has lifted Nigerian Stocks as NGX Investors gain ₦239bn.
NewsOnline Nigeria reports that the inclusion of 31 Nigerian stocks in the FTSE Russell Frontier Index Series has renewed investor interest in the equities market, lifting the Nigerian Exchange Limited’s market capitalisation by ₦239 billion.
At the close of trading on Thursday, the NGX market capitalisation increased by 0.15 per cent to ₦159.153 trillion, from ₦158.914 trillion recorded in the previous session.
The All-Share Index also advanced by 369.05 points, representing a 0.15 per cent gain, to close at 246,388.22 points.
The market recovery followed FTSE Russell’s confirmation that 31 Nigerian equities were eligible for inclusion across the large-cap, mid-cap and small-cap categories of its Frontier Index Series.
The development comes ahead of Nigeria’s return to Frontier Market status from the opening of trading on September 21, 2026, after spending three years in the Unclassified category.
ALSO: JAMB Releases 2026 UTME Results for Underage Candidates, Sets Strict Admission Conditions
FTSE Russell’s Frontier Index Series serves as a benchmark for investors and provides the basis for index-linked investment products covering eligible frontier markets.
Ten Nigerian companies were classified as large-cap stocks in the September 2026 review. They are Aradel Holdings Plc, Dangote Cement Plc, First HoldCo Plc, Guaranty Trust Holding Company Plc, MTN Nigeria Communications Plc, Nestlé Nigeria Plc, Nigerian Breweries Plc, Presco Plc, Stanbic IBTC Holdings Plc and Zenith Bank Plc.
Another 10 equities, including Access Holdings Plc, United Bank for Africa Plc, Fidelity Bank Plc, Oando Plc and Unilever Nigeria Plc, were placed in the mid-cap category, while 11 companies qualified as small-cap stocks.
The review is expected to improve the visibility of Nigerian companies among international investors and index-tracking funds. However, the level of potential investment in each company will depend on factors such as index weighting, liquidity and free float.
Nigeria was removed from FTSE Russell’s Frontier Market classification in September 2023 following persistent difficulties experienced by international investors in converting naira proceeds into foreign currency and repatriating capital.
The country’s return follows improvements in foreign-exchange liquidity, capital repatriation and overall market accessibility, according to reports on the FTSE Russell index review.
Despite Thursday’s market gain, trading sentiment remained mixed, with 34 equities recording losses against 22 gainers.
Seplat Energy Plc led the gainers’ table after its share price appreciated by 10 per cent to close at ₦13,552.60. UPDC Real Estate Investment Trust followed with a gain of 9.88 per cent, closing at ₦13.90 per unit.
Learn Africa Plc rose by 9.49 per cent to ₦8.65, while Regency Alliance Insurance Plc gained 4.76 per cent to close at 88 kobo. Jaiz Bank Plc also increased by 4.22 per cent to ₦8.65 per share.
On the losers’ chart, FG152028S1 recorded the steepest decline, falling by 19.50 per cent to close at ₦80.50 per unit.
RT Briscoe Plc followed with a 10 per cent loss to settle at ₦9.90, while Critical Minerals Financing Corporation declined by 9.86 per cent to ₦2.56.
Trading activity strengthened during the session, with the total volume of shares exchanged rising by 1.68 per cent to 434.02 million units.
The shares were valued at ₦29.30 billion and traded in 42,303 transactions.
United Bank for Africa dominated trading by volume, accounting for 113.26 million shares valued at ₦5.23 billion. The bank represented 26.10 per cent of the session’s total volume and 17.84 per cent of its traded value.
Thursday’s performance reflected renewed demand for selected Nigerian equities following the FTSE Russell review, although selling pressure remained evident across a significant number of stocks.
