FTSE Russell adds 31 Nigerian stocks, NGX market cap jumps N239bn
FTSE Russell's September 2026 review added 31 Nigerian equities to its Frontier Index Series, spanning large-, mid- and small-cap categories. The inclusion lifted the Nigerian Exchange's market capitalisation by N239 billion on Thursday, taking total market cap to N159.153 trillion – a 0.15% rise from Wednesday's N158.914 trillion. The All-Share Index climbed 369.05 points to 246,388.22, also up 0.15%. Trading activity rose, with volume up 1.68% to 434.02 million shares worth N29.3 billion across 42,303 deals. Notable gainers were Seplat Energy (+10% to N13,552.60) and UPDCREIT (+9.88% to N13.90), while FG152028S1 fell 19.5% to N80.50 and RT Briscoe dropped 10% to N9.90. The index change precedes Nigeria's formal return to the FTSE Russell Frontier Market on September 21, 2026, and includes companies such as First Holdco, Dangote Cement, MTN Nigeria, GTCO, Zenith Bank, Aradel Holdings, Nestlé Nigeria, Nigerian Breweries, Presco and Stanbic IBTC Holdings. Market breadth stayed negative, with 34 stocks declining versus 22 gaining, indicating the rally was concentrated in the newly listed names.
Will you rebalance your portfolio to capture exposure to these FTSE-Russell-listed stocks, or wait to see whether the N239 billion gain sustains beyond the initial re-balancing buzz?