- All-Share Index rises 0.81% on large-cap banking, energy stock rally
- Turnover hits 2.507bn shares worth N123.22bn across 173,561 deals
The Nigerian Exchange Limited gained N1.293 trillion in equity value over a four-day trading week, propelled by targeted bargain hunting across banking and energy large-cap stocks following confirmation of Nigeria’s reclassification to FTSE Russell Frontier Market status.
The benchmark NGX All-Share Index rose 0.81 percent to close at 241,298.47 points, up from 239,351.16 points in the prior week. Aggregate market capitalisation increased 0.84 percent, moving from N154.533 trillion to settle at N155.826 trillion and breaking a protracted losing run on the domestic bourse.
Trading activity was condensed into four sessions after the Federal Government declared Tuesday, August 25, a public holiday in observance of Eid el-Maulud.
Capital Market Drivers: Blue-Chip Bargain Hunting and FTSE Russell Reclassification
The weekly rebound reflected strategic institutional accumulation in undervalued large-cap assets rather than a broad-based speculative rally.
Dr. Benneth Eze, Head of Research and Development at the Chartered Institute of Stockbrokers, noted that investors capitalized on depressed valuations in the banking and energy sectors. Eze attributed the shift in market posture to FTSE Russell confirming Nigeria’s reclassification to Frontier Market status, effective September 2026.
This international index reclassification affirms domestic foreign exchange and capital market reforms, increasing Nigeria’s weighting and visibility among global emerging and frontier funds.
Divergence Across Sectoral Indices
Despite the headline expansion, selective asset rotation left several key sector indicators in negative territory.
The NGX MERI Growth Index recorded the sharpest decline, shedding 2.21 percent, followed by the NGX Index with a 1.56 percent drop and the NGX Lotus II Index down 1.03 percent. Additional pullbacks occurred in the NGX Consumer Goods Index (-0.67 percent), the NGX Insurance Index (-0.63 percent), the NGX Industrial Goods Index (-0.22 percent), the NGX Main Board (-0.10 percent), and the NGX Growth Index (-0.001 percent).
Volume and Value Liquidity: Financial Services Retains Dominance
Weekly trading volume closed at 2.507 billion shares valued at N123.223 billion across 173,561 deals, compared to 6.242 billion shares worth N157.764 billion executed in 186,496 transactions during the prior five-day cycle.
The Financial Services sector accounted for the bulk of market liquidity, generating 1.977 billion shares worth N71.563 billion in 79,586 deals. This sector represented 78.87 percent of aggregate equity turnover volume and 58.08 percent of total market value.
The Services sector placed second with 148.226 million shares valued at N7.252 billion across 10,638 deals, while the ICT sector ranked third, recording 117.982 million shares worth N8.635 billion in 21,639 transactions.
Liquidity concentration remained elevated in Fortis Global Insurance Plc, Jaiz Bank Plc, and First HoldCo Plc. These three counters generated 793.104 million shares valued at N26.898 billion across 14,758 transactions, contributing 31.64 percent of total market volume and 21.83 percent of turnover value.
Market Breadth Metrics and Supplementary Exchange Listings
Market breadth improved week-on-week as 24 equities posted capital gains against 18 in the preceding period, while 55 equities depreciated compared to 59 previously, and 68 closed flat versus 70 in the prior session.
Top weekly price advancers were led by University Press (+90k), First HoldCo (+N15.05), Seplat Energy (+N1,120), Red Star Express (+N1.45), and Transcorp Hotels (+N23.60). Conversely, International Energy Insurance (-N1.03), Fidson Healthcare (-N16.55), Caverton Offshore Support Group (-75k), Zichis Agro-Allied Industries (-N2.50), and Austin Laz (-34k) led the declining counters.
The NGX also expanded its fixed-income and equity asset listings during the period. The Debt Management Office listed the July 2026 issue of Federal Government Savings Bonds on Thursday, August 27, while supplementary share listings on Monday, August 24, introduced 2,369,390,970 ordinary shares of Prestige Assurance Plc and 8,075,794,000 ordinary shares of International Energy Insurance Plc to the daily official lis
