Nigerian stocks rebound 0.06% as ASI closes at 242,378 points after two-day slide
The Nigerian equities market snapped a two‑day losing streak on Thursday, September 10, 2026, as the benchmark All‑Share Index (ASI) rose 0.06% to close at 242,378.13 points, adding roughly N100 billion to market capitalisation. The modest rebound was led by Seplat Energy (+10.0% to N14,907.80), Transcorp Plc (+4.54% to N34.55), GTCO (+1.48% to N129.90), AccessCorp (+5.66% to N28.00) and NGX Group (+3.01% to N137.00), while the broader market showed weakness with only 23 stocks advancing against 29 decliners—an improvement over Wednesday’s 11‑to‑44 split but still negative breadth. Trading activity surged, with volume jumping 161.8% to 1.40 billion shares and turnover rising to N27.14 billion from N22.28 billion, driven largely by Fortis Global Insurance’s 1.03 billion‑share trade. Year‑to‑date, the ASI remains up 55.76%, though it is still 5,321.65 points below Monday’s peak of 247,699.78 points. The recovery follows a steep N1.67 trillion loss on Wednesday, leaving the market having recouped only a fraction of the week’s decline. Analysts warn that investor caution persists ahead of the Dangote Refinery IPO, with Cowry Assets Management expecting renewed downward pressure as investors liquidate positions in the insurance and banking sectors. Should you hold or reduce exposure to those sectors, or look for opportunities in the few large‑cap names driving the rally?