Nigerian Stock Market Ends Two-Day Slide as Seplat Rally Lifts Market

The Nigerian stock market returned to positive territory on Thursday as a strong rally in Seplat Energy Plc helped the benchmark index snap a two-day losing streak, offsetting continued profit-taking in several heavyweight stocks and adding approximately N100.51 billion to investors’ wealth.

The NGX All-Share Index (ASI) edged up 0.06 percent from 242,223.10 to 242,378.13 points, while equity market capitalisation increased from N157.050 trillion to N157.150 trillion, the market’s first positive close after back-to-back declines.

Market Summary

The recovery was driven primarily by gains in Seplat Energy, whose share price climbed 10.00 percent from N13,552.60 to N14,907.80, making it one of the session’s strongest performers and providing significant support for the broader market.

Other notable gainers included Japaul Gold & Ventures Plc, which advanced 9.83 percent, Tantalizer Plc, up 8.29 percent, and NSLTech Plc, which appreciated 7.94 percent.

Despite the market’s positive close, selling pressure remained evident in several key stocks.

Aradel Holdings Plc declined 10.00 percent to N1,413.00, while RT Briscoe Plc also fell 10.00 percent. Champion Breweries Plc, International Breweries Plc and CWG Plc recorded losses of 9.91 percent, 9.80 percent and 9.28 percent, respectively, limiting the market’s overall advance.

Trading activity strengthened considerably during the session.

Investors exchanged 1.399 billion shares valued at N27.14 billion, compared with 534.45 million shares worth N22.28 billion on Wednesday. Although the number of deals eased slightly to 46,218, the sharp increase in trading volume and value pointed to renewed market activity.

The surge in volume was largely driven by FTG Insurance Plc, where investors traded more than 1.03 billion shares worth N1.49 billion, making it the day’s most actively traded stock by volume.

By transaction value, however, GTCO Plc led the market with N3.33 billion worth of shares exchanged, followed by Zenith Bank Plc with N1.78 billion.

Thursday’s session suggests buying interest returned to selected large-cap stocks after two days of sustained selling. While the market’s recovery was modest, Seplat Energy’s rally proved sufficient to lift the benchmark index into positive territory, even as profit-taking persisted across several sectors.

The sharp increase in trading volume also indicates investors became more active, pointing to improving participation as the market attempted to stabilise following its recent pullback.