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 Plc rallied by the daily limit of 10%. The market's performance came a day after FTSE Russell began publishing its September 2026 annual review files for its Frontier Index Series.
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. The Oil and Gas Index gained 2.22%, while the Banking Index declined by 0.27%, reflecting mixed trading among major banking stocks.
Seplat Energy Leads Top Gainers
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 stock touched the daily price limit, driving the day's gains in the oil and gas sector. According to Proshare's calculations, the top 10 stocks accounted for 51.41% of total traded value and 14.57% of market volume.
Other top gainers included UPDC Real Estate Investment Trust, which increased from N12.65 to N13.90, gaining N1.25 or 9.88%, and Learn Africa Plc, which 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%, while Jaiz Bank Plc increased from N8.30 to N8.65, gaining N0.35 or 4.22%.
Top Losers and Mixed FTSE Russell Stocks
On the losing side, 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%, while 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%, and Abbey Mortgage Bank Plc declined from N7.75 to N7.00, shedding N0.75 or 9.68%.
FTSE Russell-eligible stocks posted mixed results, accounting for over half of total traded value on the exchange. The market's mixed performance came as investors digested the FTSE Russell September 2026 annual review files for its Frontier Index Series, which were published a day earlier.
Trading Activity and Most Active Stocks
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. 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. Sovereign Trust Insurance traded 21.21 million shares valued at N46.70 million, and WAPIC saw 20.58 million shares worth N48.48 million change hands.
Related Development: Otedola Expands 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.
The Nigerian stock market's positive close on Thursday reflects continued investor interest in oil and gas stocks, with Seplat Energy leading the charge. The mixed performance among FTSE Russell-eligible stocks and the decline in the Banking Index suggest that sector-specific factors remain key drivers of market movements. As the FTSE Russell annual review takes effect, investors will be watching for further adjustments in index compositions and their impact on trading patterns.
