Nigerian Stocks Rise As Seplat Rallies 10%, Market Turnover Hits N29.3bn
- Nigeria's stock market closed higher on Thursday, September 3, with oil and gas stocks driving the day's gains
- SEPLAT led the top gainers, touching the daily price limit as trading volume across the exchange crossed 434 million shares
- FTSE Russell-eligible stocks posted mixed results, accounting for over half of total traded value on the exchange
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market closed higher on Thursday, September 3, with the NGX All-Share Index rising 0.15%, supported by gains in oil and gas stocks as Seplat Energy rallied by the daily limit.
The market's performance came a day after FTSE Russell began publishing its September 2026 annual review files for its Frontier Index Series.
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The NGX daily price list showed 22 gainers, 33 losers and 76 unchanged securities, while total market activity reached 434.02 million shares valued at N29.30 billion across 42,303 deals.
Market performance
The NGX All-Share Index rose by 0.15% during the session, while the Oil and Gas Index gained 2.22%.
The Banking Index, however, declined by 0.27%, reflecting mixed trading among major banking stocks.
Seplat Energy Plc was the standout performer, rising 10.00% from N12,320.60 to N13,552.60, with shares worth N2.63 billion traded.
The 10 stocks accounted for 51.41% of total traded value and 14.57% of market volume, based on Proshare's calculations.
Top gainers
- Seplat Energy Plc rose from N12,320.60 to N13,552.60, gaining N1,232.00 or 10.00%.
- UPDC Real Estate Investment Trust increased from N12.65 to N13.90, gaining N1.25 or 9.88%.
- Learn Africa Plc advanced from N7.90 to N8.65, gaining N0.75 or 9.49%.
- Regency Alliance Insurance Plc rose from N0.84 to N0.88, gaining N0.04 or 4.76%.
- Jaiz Bank Plc increased from N8.30 to N8.65, gaining N0.35 or 4.22%.
Top losers
- Federal Government of Nigeria Savings Bond 2031 Series 4 fell from N99.90 to N82.00, losing N17.90 or 17.92%.
- R.T. Briscoe Plc declined from N11.00 to N9.90, shedding N1.10 or 10.00%.
- Consolidated Hallmark Insurance Plc dropped from N2.84 to N2.56, losing N0.28 or 9.86%.
- Sovereign Trust Insurance Plc fell from N2.26 to N2.04, losing N0.22 or 9.73%.
- Abbey Mortgage Bank Plc declined from N7.75 to N7.00, shedding N0.75 or 9.68%.
Trading activity
Market activity strengthened during the session, with total volume traded rising 1.68% to 434.02 million shares, while turnover reached N29.30 billion across 42,303 deals.
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UBA recorded the highest trading volume, with 113.26 million shares worth N5.23 billion changing hands. The stock accounted for 26.10% of total market volume and 17.84% of traded value.
GTCO followed with 34.25 million shares valued at N4.55 billion, while Access Holdings recorded 24.88 million shares worth N747.76 million.
Most actively traded stocks
- UBA: 113.26 million shares, N5.23 billion
- GTCO: 34.25 million shares, N4.55 billion
- Access Holdings: 24.88 million shares, N747.76 million
- Sovereign Trust Insurance: 21.21 million shares, N46.70 million
- WAPIC: 20.58 million shares, N48.48 million
Otedola plans N30bn investment to increase First HoldCo stake
Earlier, Legit.ng reported that First HoldCo Plc Chairman Femi Otedola had expanded his shareholding in the financial services company after acquiring about 680.8 million additional shares through a private placement.
The transaction was valued at approximately N29.6 billion and further increased Otedola’s ownership position and influence in the group.
The acquisition is linked to First HoldCo’s ongoing equity capital-raising exercise, which is designed to strengthen the company’s capital base.
Source: Legit.ng
