The Nigerian Exchange (NGX) ended October with an 8% gain, extending its bullish run as industrial and energy stocks powered strong market momentum. The All-Share Index climbed from 142,713.1 to 154,126.4 points, pushing year-to-date returns close to 50%.

Cement and Oil Stocks Lead Rally

Industrial bellwethers drove much of the advance, with Dangote Cement up 25.7%, BUA Cement rising 12.5%, and Lafarge Africa gaining 11.9%. The Industrial Goods Index jumped 17.5% overall.
In the energy space, the Oil & Gas Index surged 15.5%, lifted by Aradel Holdings (+27.15%) and Seplat Energy (+10%).

Consumer Stocks Add Support

Consumer goods stocks also contributed to the uptrend. The Consumer Goods Index rose 4.85%, boosted by PZ Cussons Nigeria (+20.3%), Vitafoam Nigeria (+17.8%), and BUA Foods (+10%).

Broad Participation, Rising Confidence

More than 12 billion shares traded during the month, reflecting broad investor participation and confidence. Analysts attribute the sustained rally to strong Q3 earnings and renewed foreign interest in Nigerian equities amid improving macroeconomic conditions. Visit www.jocomms.com for more news.