The market’s record close also came on the day Nigeria’s equities returned to FTSE Russell’s frontier-market classification, providing useful context without claiming that the reclassification alone caused Monday’s gains.
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The Nigerian equities market reached a new all-time high on Monday, September 21, 2026, as the market capitalisation of the Nigerian Exchange rose to ₦162.39 trillion amid renewed buying interest in listed stocks.
Market capitalisation increased by about ₦240 billion, or 0.14 per cent, from the ₦162.15 trillion recorded at the close of trading on Friday.
The Nigerian Exchange All-Share Index also advanced by 352.24 points to close at 250,156.80 points, compared with 249,804.56 points at the previous trading session.
Monday’s record extended gains recorded during the previous trading week, when the market capitalisation appreciated by 2.90 per cent to about ₦162.16 trillion, while the All-Share Index rose 2.78 per cent.
During that week, investors traded 3.25 billion shares valued at ₦237.99 billion in 287,919 deals, with the financial services sector accounting for the largest share of trading activity.
At Monday’s session, investors exchanged 574.19 million shares valued at ₦38.06 billion across 68,655 deals, as banking and insurance stocks featured prominently among the most actively traded equities.
Zenith Bank emerged as the most traded stock by volume, recording transactions involving 77.07 million shares valued at ₦9.90 billion.
Mutual Benefits Assurance followed with 53.58 million shares worth ₦205.59 million, while Sterling Financial Holdings recorded 44.23 million shares valued at ₦339.33 million.
Guaranty Trust Holding Company traded 25.86 million shares worth ₦3.41 billion, while AIICO Insurance recorded 24.38 million shares valued at ₦91.92 million.
On the gainers’ chart, Omatek Industries appreciated by 10 per cent, rising from ₦1.20 to ₦1.32 per share.
Thomas Wyatt Nigeria also gained 10 per cent to close at ₦2.53 from ₦2.30, while NASCON Allied Industries advanced by the maximum 10 per cent from ₦160 to ₦176.
SUNU Assurances similarly rose 10 per cent from ₦2.80 to ₦3.08, while Consolidated Merchant Bank increased by 9.8 per cent, closing at ₦2.24 from ₦2.04.
The market, however, recorded losses in several stocks.
Okomu Oil Palm led the decliners, falling 10 per cent from ₦1,418 to ₦1,276.20.
Custodian Investment declined by 9.13 per cent from ₦75 to ₦68.15, while Sovereign Trust Insurance dropped 8.64 per cent from ₦2.20 to ₦2.01.
Haldane McCall lost 8.33 per cent to close at ₦3.30 from ₦3.60, while Ellah Lakes declined by 5.39 per cent from ₦8.35 to ₦7.90.
The record market valuation coincided with Nigeria’s formal return to frontier-market status in FTSE Russell’s global equity classification on September 21.
FTSE Russell had previously classified Nigeria as “unclassified” in 2023 amid foreign-exchange liquidity constraints and difficulties experienced by international investors seeking to repatriate funds.
The global index provider announced earlier in 2026 that Nigeria would return to frontier status following an assessment of improvements in market accessibility and foreign-exchange conditions.
The reclassification took effect from the opening of trading on Monday as part of FTSE Russell’s Frontier Annual Review and Global Equity Index Series semi-annual review.
The development allows Nigerian equities to return to FTSE frontier indices, increasing their visibility to international institutional investors whose portfolios track or benchmark against such indices.
Monday’s record therefore came against a backdrop of stronger recent market performance, improving trading activity and renewed international recognition of Nigeria’s equity market.
The NGX entered Monday’s trading session after ending the preceding week with a 2.90 per cent rise in market capitalisation and an 82.8 per cent increase in the value of shares traded compared with the preceding week.
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