NGX Gains 0.15% as Seplat Energy Surges 10%

On September 3, the Nigerian equities market closed marginally higher, with the benchmark All-Share Index (ASI) gaining 0.15%. The ASI opened at 246,019.17 points and rose to 246,388.22 points, marking an increase of 369.05 points.

The market capitalization also saw an uptick, increasing from ₦158.914 trillion at the opening to ₦159.153 trillion, which added ₦239 billion to investors' wealth. This modest gain was primarily driven by buying interest in selected stocks, particularly Seplat Energy, which surged by 10%.

However, the overall market breadth was weaker, with 34 stocks recording losses compared to 22 gainers, indicating that the positive movement in the benchmark was largely due to gains in heavyweight stocks rather than broad-based buying.