The Nigerian Exchange (NGX) recovered slightly on Thursday, 10 September 2026, after two consecutive sessions of heavy selling.
The All-Share Index (ASI) gained 155.03 points, or 0.06%, to close at 242,378.13, while market capitalisation rose by about ₦100.5 billion to ₦157.15 trillion.
The modest rebound did little to reverse this week’s losses. The ASI has fallen from 247,699.78 on Monday to 242,378.13, while market capitalisation has dropped by roughly ₦3.45 trillion from Monday’s level. Despite the recent pullback, the market remains up about 56% year-to-date.
Trading activity increased sharply, with 1.40 billion shares worth ₦27.14 billion changing hands across 46,153 deals.
Volume was more than double Wednesday’s 534 million shares, although the increase was heavily concentrated in Fortis Global Insurance, which accounted for about 1.03 billion shares.
Market breadth remained weak. 26 stocks gained while 32 declined, showing that Thursday’s small index gain was not supported by broad-based buying.
Seplat Energy was the standout performer, jumping 10% to ₦14,907.80, the daily limit. The stock had remained unchanged at ₦13,552.60 for several sessions before Thursday’s move.
Japaul Gold gained 9.83% to ₦2.57, while Tantalizers rose 8.29%. Access Holdings also closed higher.
On the losing side, Aradel Holdings and RT Briscoe both fell 10%, hitting the daily limit. Champion Breweries declined 9.9% to ₦10.00, while International Breweries dropped 9.8% to ₦9.20.
Thursday’s gain looks more like a pause in the sell-off than a confirmed reversal. The index remains well below Monday’s level, while declining stocks still outnumbered gainers.
Investors will be watching whether the ASI can hold the 242,000 area on Friday, alongside the performance of major banking and industrial stocks.
Attention is also building ahead of FTSE Russell’s Frontier Market reclassification, which takes effect from the open on 21 September. A potential Dangote Refinery listing remains a medium-term catalyst.
For now, the key risk is whether Thursday’s increased liquidity can continue without the concentrated Fortis Global Insurance volume. Naira and interest-rate developments could also influence investor positioning.
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