Equities trading on the Nigerian Exchange Limited (NGX) kicked off the new week on a powerful upward trajectory, fueled by aggressive early buying in index heavyweights such as MTN Nigeria (MTNN), Access Holdings, Aradel, and NGX Group.
Access Holdings share price reached the maximum daily increase by 9.32 percent, while Nigerian Breweries was up by 9.22 percent. Ikeja Hotel also made the top advancers league after its share price rose by 9.95 percent.
This strong bullish momentum comes on the heels of FTSE Russell’s official confirmation that Nigeria’s reclassification to Frontier Market status will take effect on September 21, 2026.
“We view this as a positive development for the Nigerian equities market, as it reinforces confidence in recent improvements to market accessibility and infrastructure. The reclassification also restores Nigeria’s visibility within global benchmark indices, which could support increased allocations from frontier market funds and other international investors,” Meristem research analysts said.
“The FTSE indicative review files due on September 2 should provide further clarity on likely index constituents and weightings. As a result, foreign participation and market liquidity are expected to improve, particularly in large-cap and highly liquid stocks likely to
feature prominently in the index,” the analysts said.
As at 4.20 pm on Monday, the market was up by 1.20 percent as the NGX-ASI rose to 244,199.50 points while the value of listed equities rose to N156.8 trillion.
As at the time of reporting, investors in Aradel gained N42 per share. GTCO (+N4.70), NGX Group (+N8.4), PZ Cussons (+N 5.9), Zenith Bank (+N 6.3), while investors in MTNN…
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