The Nigerian equities market extended its rally for a second consecutive week, with the NGX All-Share Index climbing 2.36% to 246,992.44 points. Market capitalization gained approximately N3.72 trillion as investor sentiment improved following FTSE Russell’s recent reclassification of Nigeria to Frontier Market status. Trading volume and value increased significantly, with the Financial Services sector leading activity. Major gains were recorded in Oil & Gas and Consumer Goods, while the Industrial Goods sector saw a slight decline. Simultaneously, the Nigerian Economic Summit Group reported that the business environment saw its strongest expansion in August since February 2026, with the composite Current Business Performance Index rising to 112.7 points.

Cutix Plc has reported a loss after tax of N198.02 million for the 2026 financial year, marking a significant downturn from the N1.03 billion profit recorded in 2025. During its 43rd Annual General Meeting in Nnewi, the company attributed the poor performance to intense competition, rising raw material and energy costs, and foreign exchange volatility. To restore profitability, management is implementing a cost-optimisation framework, which includes the commissioning of a 33kVA power line to reduce diesel dependence and expanding into the renewable energy sector with solar cable distribution.