
The Nigerian Exchange showed significant growth during the trading week ending April 10, 2026, despite a shortened four-day session. Investor confidence surged following FTSE Russell's announcement to reclassify Nigeria from "Unclassified" to "Frontier Market" status, effective September 2026. This reclassification is attributed to improved foreign exchange liquidity and resolved repatriation issues. Coupled with easing inflation and a 50bps cut to the Monetary Policy Rate, the All-Share Index rose by 1.03 percent to a record high of 203,770.43 points, and market capitalization reached N131.166tn. Trading activity increased, with 3.361 billion shares valued at N151.948bn traded across 229,442 deals. The Financial Services Industry led activity, accounting for 68.54 percent of equity turnover volume, with Access Holdings Plc, Wema Bank Plc, and Guaranty Trust Holding Company Plc being key drivers. While most indices gained, the Insurance and Growth indices depreciated. Access Holdings Plc listed an additional 1.057 billion ordinary shares after a private placement, increasing its total issued shares to 54.37 billion. Conversely, DN Tyre and Rubber Plc and Greif Nigeria Plc were delisted due to not meeting listing standards. Analysts anticipate a bullish outlook for the Nigerian market for the rest of 2026, expecting increased foreign portfolio inflows due to the FTSE upgrade, which could strengthen foreign reserves and stabilize the naira. The market has already achieved a 30.
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This summary was AI-generated from a story originally published by Punch Nigeria.