Nigerian Market Rebounds as Seplat and Transcorp Lead Gains

On September 10, 2026, the Nigerian equities market ended a two-day losing streak as the benchmark All-Share Index (ASI) increased by 0.06%, closing at 242,378.13 points, which added approximately N100 billion to market capitalisation. This rebound was primarily fueled by price increases in Seplat Energy, which rose 10.00% to N14,907.80, Transcorp Plc, GTCO, AccessCorp, and NGX Group.

This recovery follows a significant loss of N1.67 trillion on the previous day, although the index remains 5,321.65 points lower than its peak of 247,699.78 points on Monday. Market breadth stayed negative, with 23 stocks advancing and 29 declining, indicating ongoing investor caution.

Notable declines included Fidelity Bank, which fell 1.58% to N18.70, Stanbic IBTC down 0.73% to N155.35, and Oando decreasing by 2.13% to N32.10. Trading activity improved compared to the previous day, with Mutual Benefits Assurance recording 59.56 million shares worth N167.81 million.

Cowry Assets Management Limited projected that the market may face downward pressure as investors liquidate positions ahead of the Dangote Refinery IPO set to commence the following week.