Stock Market Appreciates by N1.36 Trillion in Three Days

The stock market segment of the Nigerian Exchange Limited (NGX) has appreciated by N1.36 trillion in the first three days of trading activities this week over investors’ buying interest in large-mid capitalised stocks listed on the bourse.

Opening for trading activities this week at N91.135 trillion, the stock market has appreciated by N1.36 trillion, which is 1.49 per cent to close yesterday’s trading at N92.490 trillion amid investors demand for MTN Nigeria Communications Plc, among other blue-chip stocks. 

MTN Nigeria Communications in the three days trading activities this week has gained 10.8 per cent or N45.90 per share to close at N470.90 per share from N425.00 per share the  stock market opened for trading. 

The stock price appreciation brings the telecommunications company market capitlisation to N9.89 trillion as of October 8, 2025. 

Consequently, the  NGX All-Share  Index moved to  145,719.09 basis points, up by 2,135.05basis points or 1.49 per cent in two days from 143,584.04 basis points it closed for trading last week with the Month-to-Date and Year-to-Date returns moderated to +2.1 per cent and +41.6per cent, respectively.

THISDAY findings showed that most indices, excluding the  NGX Banking Index have seen uptick in the  three days under review.

For instance, the  NGX Insurance Index appreciated by  4.4 per cent to close at 1,265.84 basis points, while the  NGX Banking Index dropped by 0.59 per cent  to close at  1,517.71basis points.

In the three days under review, the NGX  Consumer Goods Index advanced by 0.37 per cent to close  at 3,413.82 basis points as the NGX Oil/Gas Index appreciated by 3.05 per cent to close yesterday at  2,663.95 basis points.

In addition, the NGX Industrial Index rose by 0.68per cent to close at 5,112.11basis points.

Meanwhile, the stock market has maintained positive momentum over FTSE Russell’s inclusion of Nigeria on its Watch List for possible reclassification from Unclassified to Frontier Market status.

The announcement, published in the FTSE Equity Country Classification Annual Review 2025, followed confirmation from market participants that the foreign exchange backlogs and capital repatriation delays which led to Nigeria’s downgrade in 2023 have been cleared since early 2025.

FTSE Russell noted that Nigeria now meets the five Quality of Markets criteria required for Frontier Market classification, with further assessment scheduled for March 2026 as part of its ongoing review process.

Market analysts have attributed the progress to wide-ranging fiscal and monetary policy adjustments, including reforms in the foreign exchange market, rationalisation of fuel subsidies, and measures to improve the ease of doing business. These steps, combined with stronger coordination among financial market regulators, have enhanced transparency, boosted liquidity, and renewed confidence among both local and international investors.

Speaking on the development, Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Mr. Temi Popoola, in statement said: “Nigeria’s inclusion on the FTSE Russell Watch List is more than recognition; it is a reaffirmation that policy consistency, transparency, and collaboration work. The recent reforms in the foreign exchange market, fiscal policy, and ease of doing business have collectively helped restore investor confidence and address key structural constraints.

“At NGX Group, we have always viewed such progress as a springboard for deeper capital market evolution. Our focus remains on sustaining liquidity, expanding listings, and leveraging technology and sustainability to enhance the quality of investor participation, ensuring that Nigeria’s market strength becomes both visible and investable on the global stage.”

Observers have also commended the coordinated efforts of the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), and NGX Group for strengthening the overall market ecosystem and aligning domestic practices with global standards.

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The FTSE Watch List highlights markets under active review for possible reclassification, offering investors transparency and the opportunity for engagement ahead of any potential changes in index status. Nigeria’s inclusion represents a key step toward restoring its position within global equity benchmarks and attracting long-term capital inflows.

NGX Group has reaffirmed its commitment to continued collaboration with FTSE Russell, market regulators, and other stakeholders to sustain the momentum of reform and position Nigeria for a successful reclassification outcome at the March 2026 review.

On market’s performance this week, a group of analysts at Cowry Asset Management Limited stated that, “we expect the Nigerian equities market to maintain its bullish momentum in the near term, driven by sustained investor appetite for fundamentally strong stocks and portfolio rebalancing ahead of Q3 2025 reporting and earnings season.

According to the analysts, “Although intermittent profit-taking and fewer block trades could result in mixed activity, the robust year-to-date performance, broad-based sectorial gains, and rising retail participation continue to underpin market stability. Meanwhile, we continue to advise investors to position in stocks with strong fundamentals and earning power.”

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