NGX Market Wrap 24 Sept | Plus234Feed

The NGX ended Thursday's session on a positive note, with the All-Share Index climbing 0.47% to 252,155.05 points. Though modest in percentage terms, the gain reflects steady institutional buying and rotating interest toward undervalued equities.

Energy stocks emerged as the session's primary growth driver. SEPLAT Energy surged 7.33%, adding ₦1,092.20 to close at ₦16,000.00, signalling renewed investor appetite for upstream oil assets amid global energy demand considerations. This performance underscores persistent institutional confidence in Nigeria's hydrocarbon sector recovery narrative.

Industrial and logistics stocks also gained traction. NAHCO climbed 8.57% with a ₦12.00 absolute gain to ₦152.00, while CAVERTON and RTBRISCOE posted 8.75% and 9.55% gains respectively, suggesting sector-wide strength in transportation and aviation-adjacent plays.

However, weakness emerged in insurance and specialty stocks. SOVRENINS fell 9.17%, FTNCOCOA declined 6.17%, and LASACO dropped 5.56%, reflecting profit-taking or sector-specific headwinds. FIDELITYBK's dominance in trading volumes (312.9 million shares) alongside VFDGROUP and TRANSCORP indicates sustained retail participation.

Market capitalization settled at ₦163.68 trillion across 44,415 deals worth ₦44.51 billion. While breadth favoured gainers, the index's modest 0.47% advance suggests consolidation rather than conviction buying.

Investors should monitor whether energy momentum sustains into Friday's session or yields to profit-taking pressures.