NGX equities turnover hits N6.62trn as market closes August with 56.9% YtD gain

Year-to-date (YtD) equities turnover on the Nigerian Exchange Limited (NGX) rose to N6.62 trillion at the end of August, from N5.98 trillion in July, as investors remained active despite a period of profit-taking and price correction during the month.

The increase means approximately N640 billion worth of equities were traded in August, underscoring sustained participation in the market following the strong rally recorded in the first seven months of the year.

With equities turnover at N6.62 trillion, the All-Share Index (ASI) still up 56.93 percent year-to-date, and renewed buying interest at the close of August, the market heads into September with investor participation remaining strong and attention shifting to the opportunities that could emerge from Nigeria’s return to Frontier Market status.

The market ended August on a stronger footing, with the ASI gaining 1.20 percent on the final trading day, supported by renewed buying interest across listed equities. Market capitalisation consequently added about N1.91 trillion, while market breadth strengthened to 2.53x, with advancing stocks significantly outnumbering decliners.

Sentiment also received a boost towards month-end following FTSE Russell’s confirmation that Nigeria’s reclassification to Frontier Market status will take effect from the open of trading on September 21, 2026, restoring the Nigerian market to the global Frontier Market universe.

The NGX All-Share Index closed the month at 244,199.39 points, with a year-to-date return of 56.93 percent, compared with 57.62 percent at the end of July. The movement translates to a marginal decline of about 0.44 percent in August, indicating that much of the market’s…