Seplat surges 10% as Nigerian stocks gain N238 billion despite wider sell-off
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 post Seplat surges 10% as Nigerian stocks gain N238 billion despite wider sell-off appeared first on Nairametrics .
On Thursday, September 3, 2026, the Nigerian equities market experienced a resurgence, with the NGX All-Share Index (ASI) closing at 246,388.22 points, marking a 0.15% increase from the previous session's 246,019.17 points. The surge was primarily driven by strong performance in Seplat Energy and the broader Oil & Gas sector, despite a significant loss reported by Aradel Holdings.
The market capitalization rose to N159.15 trillion from N158.91 trillion, resulting in an additional N238.37 billion in investor wealth and strengthening the market's year-to-date return to 58.33%. Despite this headline gain, investor sentiment remained cautious, with more losers than gainers, indicating that the market advance was driven by a few strong performers rather than widespread buying.
Seplat Energy led the market's gains, surging by 10% to close at N13,552.60, extending a strong performance over the past week that has been fueled by Tony Elumelu's increasing stake in the company and sustained investor interest in the oil and gas major.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
