The Nigerian equities market regained its bullish momentum on Thursday, September 3, 2026, as the benchmark NGX All-Share Index (ASI) advanced 0.15% to close at 246,388.22 points, up from 246,019.17 points in the previous session.
The market performance was buoyed by strong gains in Seplat Energy and the broader Oil & Gas sector despite Aradel Holdings’ significant loss.
Market capitalisation rose to N159.15 trillion from N158.91 trillion, adding approximately N238.37 billion to investor wealth, while the market’s year-to-date return strengthened to 58.33%.
Despite the headline gain, investor sentiment remained negative beneath the surface, with losers comfortably outpacing gainers, suggesting that Thursday’s advance was driven by a handful of outstanding heavyweights rather than broad-based buying.
Seplat Energy delivered the session’s standout move, surging by maximum 10% to close at N13,552.60 from N12,320.60, extending a remarkable run that has seen the stock climb sharply through the past week and driving much of the strength in the Oil & Gas Index.
On the downside, NASCON Allied Industries was the session’s biggest large-cap decliner, falling 8.03% to close at N161.40 from N175.50.
Sectoral performance was mixed across the board. The Oil & Gas Index emerged as the strongest sector, gaining 2.22% to close at 5,594.51 points, from 5,473.07 points, powered by Seplat’s sharp rally.
Trading activity was broadly positive despite the mixed breadth, with total volume traded rising 1.68% to 434.02 million shares, turnover value increasing 3.03% to N29.30 billion, and deal count advancing 2.00% to 42,303 transactions.
Thursday’s session restored the market’s recent momentum, with Seplat Energy once again proving to be one of the standout stories on the NGX, building on its rally through the past week that has been closely tied to Tony Elumelu’s growing stake in the company and continued strong investor interest in the oil and gas major.
Looking ahead, the market is expected to sustain its upward trajectory as investor confidence continues to strengthen, buoyed by the FTSE Russell latest inclusion of some of the large cap stocks on its index.
