The inclusion of 31 Nigerian stocks in the FTSE Russell Frontier Index Series has boosted investor wealth on the Nigerian Exchange Limited, NGX, with market capitalisation rising by N239 billion at the close of trading on Thursday.
DAILY POST reports that global index provider FTSE Russell recently confirmed the eligibility of Nigerian equities across three categories — large-cap, mid-cap and small-cap — ahead of Nigeria’s return to the Frontier Market on September 21, 2026.
Among the companies featured in the September 2026 FTSE Russell index review are First Holdco Plc, Dangote Cement Plc, MTN Nigeria Communications Plc, Guaranty Trust Holding Company Plc (GTCO) and Zenith Bank Plc.
Other Nigerian companies included in the index are Aradel Holdings Plc, Nestlé Nigeria Plc, Nigerian Breweries Plc, Presco Plc and Stanbic IBTC Holdings Plc.
The FTSE Russell review sparked renewed buying interest on the NGX on Thursday, helping the equities market record a modest recovery despite broad-based losses among several stocks.
Market capitalisation increased by 0.15 per cent to N159.153 trillion, up from N158.914 trillion recorded at the close of trading on Wednesday.
The All-Share Index also advanced by 369.05 points, representing a 0.15 per cent increase, to close at 246,388.22 points.
However, market breadth remained negative, as 34 stocks declined, compared with 22 equities that recorded gains.
Seplat Energy emerged as the best-performing stock, rising by 10 per cent to close at N13,552.60 per share. UPDCREIT followed closely, gaining 9.88 per cent to settle at N13.90 per share.
On the losers’ chart, FG152028S1 recorded the biggest decline, shedding 19.50 per cent to close at N80.50 per unit. RT Briscoe followed with a 10 per cent drop, ending the session at N9.90 per share.
Trading activity also improved during the session, with total volume increasing by 1.68 per cent to 434.02 million shares.
The shares exchanged were valued at N29.30 billion and executed through 42,303 deals.
United Bank for Africa Plc led trading by volume, accounting for 113.26 million shares valued at N5.23 billion.
UBA’s transactions represented 26.10 per cent of the total market volume and 17.84 per cent of the value of shares traded during the session.
The market’s performance reflected renewed investor interest in selected Nigerian equities following the FTSE Russell review, although selling pressure persisted across a significant number of counters.
