The Nigerian equities market snapped a two-day losing streak on Thursday, September 10, 2026, as the benchmark All-Share Index (ASI) rose modestly by 0.06% to close at 242,378.13 points, adding approximately N100 billion to market capitalisation.
The rebound, driven by price appreciation in Seplat Energy, Transcorp Plc, GTCO, AccessCorp and NGX Group, follows Wednesday’s steep N1.67 trillion loss, though the index remains 5,321.65 points below Monday’s high of 247,699.78 points.
The recovery comes even as market breadth stayed negative, with 23 stocks advancing against 29 decliners, an improvement over Wednesday’s 11-to-44 split but still reflecting underlying investor caution.
Seplat Energy was Thursday’s most significant large-cap gainer, rallying 10.00% to close at N14,907.80, making it the single biggest positive contributor to the index.
Among other notable movers, Fidelity Bank eased 1.58% to N18.70, Stanbic IBTC slipped 0.73% to N155.35, and Oando declined 2.13% to N32.10.
Trading activity staged a sharp rebound on Thursday, in contrast to Wednesday’s pullback in participation.
Mutual Benefits Assurance followed with 59.56 million shares worth N167.81 million, while Aradel Holdings led by value at N5.34 billion despite its price decline.
Thursday’s modest gain follows two consecutive sessions of heavy losses that wiped out a combined N3.55 trillion in market capitalisation between Tuesday and Wednesday, meaning the market has recovered only a fraction of the week’s decline.
Commenting on the outlook, Cowry Assets Management Limited said “the market is anticipated to return to downward pressure as investors continue liquidating positions across the Insurance and Banking sectors ahead of the Dangote Refinery IPO, which is set to commence at the start of the coming week.”
