Seplat Hits 10% Daily Limit to Lead NGX Recovery

Seplat Energy Plc emerged as the driving force behind the Nigerian Exchange’s (NGX) recovery on Thursday after its share price surged 10.00 percent to the daily price limit, providing significant support to the broader market and helping the benchmark index end a two-session losing streak.

The energy company’s share price climbed from N13,552.60 to N14,907.80, making it one of the day’s strongest performers and reinforcing renewed investor demand for oil and gas equities.

Top Gainers

Seplat’s rally came at a crucial time for the market, offsetting losses across several counters and helping lift the broader index into positive territory.

The NGX All-Share Index (ASI) advanced 0.06 percent from 242,223.10 to 242,378.13 points, while equity market capitalisation increased by approximately N100.51 billion from N157.050 trillion to N157.150 trillion, ending the market’s two-day decline.

Despite the market’s recovery, profit-taking remained evident in several major stocks.

Aradel Holdings Plc fell 10.00 percent to N1,413.00, while RT Briscoe Plc also declined 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.

Trading activity strengthened considerably during the session.

Investors exchanged 1.399 billion shares worth N27.14 billion, compared with 534.45 million shares valued at N22.28 billion in the previous session.

The sharp increase in trading volume reflected stronger market participation, even as the benchmark index recorded only a modest gain.

Although selling pressure persisted across parts of the market, Seplat Energy’s advance proved decisive in lifting the NGX back into positive territory.

The stock’s move to the daily price limit underscored strong investor demand and highlighted the influence heavyweight equities continue to exert on overall market direction.