Nigerian stocks began September with strong buying in financials and selected equities, as McNichols and FTN Cocoa posted 10% gains while Aradel Holdings surged 8.83%.
Banking stocks were among the key drivers of the session. Access Holdings led activity by volume, with about 129.9 million shares traded, while GTCO recorded ₦4.29 billion in turnover. Zenith Bank, UBA, Fidelity Bank, Wema Bank, Access Holdings, Jaiz Bank and First HoldCo all closed higher, reflecting sustained demand for financial stocks.
Outside banking, consumer and industrial stocks recorded notable gains. McNichols and FTN Cocoa both rose by the daily limit of 10%, while Nestlé gained 5.83% to ₦2,995. HBM Nigeria Plc (HBMNG), formerly Lafarge Africa Plc, also advanced 4.48% to ₦350, with 6.45 million shares traded.
The insurance sector was also active. Consolidated Hallmark Insurance (CONHALLPLC) rose 8.15%, Link Assurance gained 6.56%, while AIICO and WAPIC advanced 6.38% and 5.02%, respectively. However, Guinea Insurance, FTG Insurance and Prestige Assurance closed lower.
In the oil and gas space, Aradel Holdings surged 8.83% to ₦1,539.90, with more than ₦4.5 billion worth of shares traded. Japaul Gold also recorded a strong gain.
Selling pressure remained evident in parts of the market. Triple Gee fell 9.72%, making it the day's biggest loser, followed by ABC Transport and NAHCO, which declined 9.52% and 9.22%, respectively. Unilever and UPDC REIT also recorded notable declines.
Among the market's biggest names, MTN Nigeria and Dangote Cement closed unchanged, while Nestlé posted a strong gain.
Overall, the first trading session of September reflected selective buying rather than a broad-based rally, with financials, insurance, consumer and energy stocks attracting investor attention. The key focus in the coming sessions will be whether this buying interest broadens across the market or gives way to profit-taking.
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