NGX Gains ₦305 Billion as FTSE Russell Restores Nigeria to Frontier Market Status

The Nigerian equities market ended its 11-day losing streak as investors added ₦305 billion to market capitalisation following FTSE Russell’s confirmation that Nigeria has been reclassified from Unclassified to Frontier Market status. The NGX All-Share Index rose 0.20% to 239,156.09 points, while market capitalisation closed at ₦154.442 trillion. The year-to-date return improved to 53.69%. First Holdco, UBA, Access Holdings, AXA Mansard Insurance and Abbey Bank supported the rebound. However, market breadth remained negative, with 39 decliners against 19 gainers. Trading volume also fell 31.8% to 499.96 million shares valued at ₦35.15 billion.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.