{"id":4742,"date":"2026-10-31T06:45:45","date_gmt":"2026-10-31T06:45:45","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/best-performing-nigerian-stocks-in-october-dangote-cement-lead-n2-01-trillion-rally\/"},"modified":"2026-10-31T06:45:45","modified_gmt":"2026-10-31T06:45:45","slug":"best-performing-nigerian-stocks-in-october-dangote-cement-lead-n2-01-trillion-rally","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/best-performing-nigerian-stocks-in-october-dangote-cement-lead-n2-01-trillion-rally\/","title":{"rendered":"Best performing Nigerian stocks in October: Dangote Cement lead N2.01 trillion rally"},"content":{"rendered":"<p>The Nigerian Exchange (NGX) recorded a N2.01 trillion increase in equity market capitalisation in October 2026, rising by 1.23% to N165.11 trillion from N163.10 trillion at the end of September, driven largely by Dangote Cement and selected mid-cap stocks.<\/p>\n<p>The NGX market performance data for the month indicate that the benchmark All-Share Index (ASI) increased to 254,299.49 points from 251,211.67 points, representing a gain of approximately 1.23% or 3,087.82 points.<\/p>\n<p>Of the 146 securities tracked, 28 gained, 72 declined and 46 were unchanged.<\/p>\n<p>The rally was concentrated in a limited number of stocks, as banking, insurance and consumer goods indices declined despite gains in industrial and selected large-cap counters.<\/p>\n<h4><strong>Dangote Cement leads October rally<\/strong><\/h4>\n<p>Dangote Cement emerged as a major contributor to October\u2019s market rally, gaining 33.12% to close at N1,420 per share from N1,066.70 at the end of September.<\/p>\n<ul>\n<li>The price increase lifted the company\u2019s market capitalisation to approximately N24 trillion, supported by strong buying interest towards the end of the month.<\/li>\n<li>MTN Nigeria gained 1.55% to N850, while Fidelity Bank rose 10.85% to N24 and Guinness Nigeria advanced 9.93% to N423.<\/li>\n<li>Ecobank Transnational increased by 4.41% to N71, while Unilever Nigeria gained 3.91% to N109.<\/li>\n<li>Honeywell Flour Mill rose 25.28% to N22.55, while CAP advanced 10% to N110.<\/li>\n<li>Livestock Feeds gained 64.20% to N13.30, while E-Tranzact International increased by 33.61% to N16.30.<\/li>\n<li>The market\u2019s strongest percentage gainer was Multi-Trex Integrated Foods, which doubled to N0.72 from N0.36, followed by Livestock Feeds and E-Tranzact.<\/li>\n<\/ul>\n<p>October\u2019s rally was particularly pronounced towards month-end, with the ASI recovering from 244,956.94 points on October 22 to 254,299.49 points on October 30, gaining 9,342.55 points, or 3.81%.<\/p>\n<p>Dangote Cement gained approximately 40.6% during the same period from N1,010 to N1,420, following its reported 41.5% increase in nine-month pre-tax profit to N1.47 trillion.<\/p>\n<h4><strong>Highlight of the 10 stocks behind the rally: (September 30 vs. October 30)<\/strong><\/h4>\n<blockquote>\n<ul>\n<li>Dangote Cement: +33.12%, from N1,066.70 to N1,420.00<\/li>\n<li>MTN Nigeria: +1.55%, from N837.00 to N850.00<\/li>\n<li>Fidelity Bank: +10.85%, from N21.65 to N24.00<\/li>\n<li>Guinness Nigeria: +9.93%, from N384.80 to N423.00<\/li>\n<li>Ecobank Transnational: +4.41%, from N68.00 to N71.00<\/li>\n<li>Unilever Nigeria: +3.91%, from N104.90 to N109.00<\/li>\n<li>Honeywell Flour Mill: +25.28%, from N18.00 to N22.55<\/li>\n<li>CAP: +10.00%, from N100.00 to N110.00<\/li>\n<li>Livestock Feeds: +64.20%, from N8.10 to N13.30<\/li>\n<li>E-Tranzact International: +33.61%, from N12.20 to N16.30<\/li>\n<\/ul>\n<\/blockquote>\n<h4><strong>Industrial stocks outperform banking shares:<\/strong><\/h4>\n<p>The NGX Industrial Index recorded the strongest sectoral performance in October, increasing by 16.85% to 12,199.20 points, largely supported by Dangote Cement.<\/p>\n<p>The NGX Premium Index also gained 5.20%, while the NGX 30 Index rose 1.46%, reflecting stronger performance among selected blue-chip stocks.<\/p>\n<ul>\n<li>The NGX Banking Index declined by 10.42% to 2,429.46 points due to a sharp fall in Tier 1 banks: First Holdco, UBA, GTCO, Access and Zenith (also known as FUGAZ banks).<\/li>\n<li>First Holdco fell 25.48%, while Zenith Bank declined 11.19%, GTCO lost 9.09%, UBA dropped 7.59%, and Access Holdings fell 5.92%.<\/li>\n<li>The NGX Insurance Index declined by 5.52%, with Cornerstone Insurance, Royal Exchange, and International Energy Insurance among the month\u2019s biggest losers.<\/li>\n<li>The NGX Commodity, Oil and Gas, and Consumer Goods indices declined by 2.71%, 2.58%, and 1.09%, respectively.<\/li>\n<li>Other major decliners included Critical Minerals Financing Corp, which lost 30.56%, and Zichis Agro Allied Industries, which declined by 16.28% despite reporting a 179% increase in nine-month pre-tax profit.<\/li>\n<\/ul>\n<p>The broader market recorded 28 advancing stocks, 72 declining stocks, and 46 unchanged securities among the 146 tracked. This indicates that the increase in overall market capitalisation was driven by a relatively narrow group of stocks rather than widespread market gains.<\/p>\n<h4><strong>Top 10 Best Performers by Percentage Gain:<\/strong><\/h4>\n<blockquote>\n<ul>\n<li>Multi-Trex Integrated Foods: +100.00%, from N0.36 to N0.72<\/li>\n<li>Livestock Feeds: +64.20%, from N8.10 to N13.30<\/li>\n<li>E-Tranzact International: +33.61%, from N12.20 to N16.30<\/li>\n<li>Dangote Cement: +33.12%, from N1,066.70 to N1,420.00<\/li>\n<li>AVA Capital: +32.74%, from N5.65 to N7.50<\/li>\n<li>Honeywell Flour Mill: +25.28%, from N18.00 to N22.55<\/li>\n<li>Learn Africa: +19.61%, from N7.65 to N9.15<\/li>\n<li>Fidelity Bank: +10.85%, from N21.65 to N24.00<\/li>\n<li>Guinea Insurance: +10.00%, from N0.70 to N0.77<\/li>\n<li>CAP: +10.00%, from N100.00 to N110.00<\/li>\n<\/ul>\n<\/blockquote>\n<h4><strong>Top 10 Worst Performers by Percentage Loss:<\/strong><\/h4>\n<blockquote>\n<ul>\n<li>Critical Minerals Financing Corp: -30.56%, from N4.32 to N3.00<\/li>\n<li>First Holdco: -25.48%, from N159.90 to N119.15<\/li>\n<li>Cornerstone Insurance: -18.75%, from N5.60 to N4.55<\/li>\n<li>Zichis Agro Allied Industries: -16.28%, from N19.90 to N16.66<\/li>\n<li>Ellah Lakes: -15.66%, from N8.30 to N7.00<\/li>\n<li>Red Star Express: -15.19%, from N15.80 to N13.40<\/li>\n<li>Royal Exchange: -14.78%, from N1.15 to N0.98<\/li>\n<li>Legend Internet: -13.70%, from N3.65 to N3.15<\/li>\n<li>International Energy Insurance: -13.33%, from N2.25 to N1.95<\/li>\n<li>Japaul Gold &amp; Ventures: -12.76%, from N2.90 to N2.53<\/li>\n<\/ul>\n<\/blockquote>\n<h4><strong>Sterling share consolidation:<\/strong><\/h4>\n<p>Sterling Financial Holdings moved from N7.70 to N76.35 following a one-for-ten share reconstruction with its market capitalisation unchanged at N527.5 billion upon relisting. This resulted in an 891.56% share price increase in October.<\/p>\n<ul>\n<li>After adjusting for the share consolidation, Sterling\u2019s October performance represents a decline of approximately 0.84%.<\/li>\n<li>In October 2025, the NGX ASI increased by approximately 8%, compared with the 1.23% gain recorded in October 2026.<\/li>\n<li>Dangote Cement gained 25.69% in October 2025, compared with its stronger 33.12% increase in October 2026.<\/li>\n<li>The comparison shows that Dangote Cement recorded a larger percentage gain this October, although the broader market advance was considerably smaller than a year earlier.<\/li>\n<\/ul>\n<p>Research analysts at Cordros Securities Limited expect cautious trading as investors assess earnings releases and dividend declarations, while Cowry anticipates selective buying and intermittent profit-taking.<\/p>\n<p>With market gains concentrated in a limited number of stocks, investors will be monitoring whether the rally broadens beyond industrial and selected large-cap counters in subsequent trading sessions.<\/p>\n<p>Source: <\/p>\n<div class=\"nSourse\">Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Exchange (NGX) recorded a N2.01 trillion increase in equity market capitalisation in October 2026, rising by 1.23% to N165.11 trillion from N163.10 trillion at the end of September,&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4742","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=4742"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4742\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=4742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=4742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=4742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}