The inclusion of 31 Nigerian stocks in the FTSE Russell Frontier Index Series has boosted investor wealth on the Nigerian Exchange Limited (NGX), with market capitalisation rising by N239 billion at the close of trading on Thursday.

The development followed FTSE Russell’s confirmation of the eligibility of Nigerian equities across the large-cap, mid-cap and small-cap categories ahead of Nigeria’s return to the Frontier Market on September 21, 2026.

Companies featured in the September 2026 index review include First Holdco Plc, Dangote Cement Plc, MTN Nigeria Communications Plc, Guaranty Trust Holding Company Plc (GTCO), Zenith Bank Plc, Aradel Holdings Plc, Nestlé Nigeria Plc, Nigerian Breweries Plc, Presco Plc and Stanbic IBTC Holdings Plc.

The review triggered renewed buying interest in selected equities, helping the market recover despite losses recorded by several stocks.

Market capitalisation rose by 0.15 per cent to N159.153 trillion, from N158.914 trillion on Wednesday. The All-Share Index also gained 369.05 points, representing a 0.15 per cent increase, to close at 246,388.22 points.

However, market breadth remained negative, with 34 stocks recording losses compared to 22 gainers.

Seplat Energy led the gainers, rising by 10 per cent to N13,552.60 per share, while UPDCREIT gained 9.88 per cent to close at N13.90 per share.

On the losers’ chart, FG152028S1 declined by 19.50 per cent to N80.50 per unit, followed by RT Briscoe, which dropped by 10 per cent to N9.90 per share.

Trading activity also improved, as total volume increased by 1.68 per cent to 434.02 million shares, valued at N29.30 billion and executed through 42,303 deals.

United Bank for Africa Plc led trading by volume, accounting for 113.26 million shares valued at N5.23 billion. The bank’s transactions represented 26.10 per cent of total market volume and 17.84 per cent of the value of shares traded.