{"id":4963,"date":"2026-10-31T13:00:47","date_gmt":"2026-10-31T13:00:47","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/nigerian-stocks-gain-n2-trillion-in-october-as-market-cap-hits-n165-trillion\/"},"modified":"2026-10-31T13:00:47","modified_gmt":"2026-10-31T13:00:47","slug":"nigerian-stocks-gain-n2-trillion-in-october-as-market-cap-hits-n165-trillion","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/31\/nigerian-stocks-gain-n2-trillion-in-october-as-market-cap-hits-n165-trillion\/","title":{"rendered":"Nigerian stocks gain N2 trillion in October as market cap hits N165 trillion"},"content":{"rendered":"<p>Nigerian stocks closed October with a gain of approximately N2 trillion in market capitalisation, rising from around N163.1 trillion at the end of September to N165 trillion.<\/p>\n<p>The supplied market data showed that the All-Share Index gained 1.23% during the month, taking its year-to-date return to 63.42%.<\/p>\n<p>A 2.86% rally in the final trading week helped reverse earlier losses, securing October\u2019s second consecutive positive finish and its sixth gain in 10 years.<\/p>\n<h4><strong>Late rally reverses October losses<\/strong><\/h4>\n<p>October started on a sour note, with the All-Share Index shedding 0.97% at the end of the first full trading week on October 9, 2026.<\/p>\n<p>The second and third weeks also recorded losses, suggesting the market could finish the month in negative territory.<\/p>\n<ul>\n<li>The early weakness followed a pattern of alternating monthly gains and losses in the All-Share Index since May, before October\u2019s late recovery secured another positive close.<\/li>\n<li>Strong gains in mega-cap stocks, particularly Dangote Cement, helped reverse the losses, with the cement producer gaining 27% in the final week.<\/li>\n<li>The All-Share Index recovered from 244,956.94 points on October 22 to 254,299.49 points on October 30, adding 9,342.55 points, or 3.81%, over the period.<\/li>\n<li>Dangote Cement rose from N1,010 to N1,420 during the same period, representing a gain of approximately 40.6% and highlighting the strength of its month-end rally.<\/li>\n<\/ul>\n<p>The recovery ensured that October ended with a modest monthly gain despite the weakness recorded during its first three weeks.<\/p>\n<h4><strong>Dangote Cement leads monthly gains<\/strong><\/h4>\n<p>Dangote Cement emerged as a major contributor to October\u2019s rally, gaining 33.12% to close at N1,420 per share from N1,066.70 at the end of September.<\/p>\n<p>The increase lifted the company\u2019s market capitalisation to approximately N24 trillion, supported by strong buying interest towards month-end.<\/p>\n<ul>\n<li>The company\u2019s final-week gain followed Nairametrics\u2019 exclusive report that Femi Otedola was acquiring a significant stake in the cement giant, while its monthly advance placed it among the prominent gainers tracked.<\/li>\n<li>MTN Nigeria gained 1.55% to N850, Fidelity Bank rose 10.85% to N24, and Guinness Nigeria advanced 9.93% to N423.<\/li>\n<li>Ecobank Transnational gained 4.41% to N71, Unilever Nigeria increased 3.91% to N109, Honeywell Flour Mill rose 25.28% to N22.55, and CAP advanced 10% to N110.<\/li>\n<li>Livestock Feeds gained 64.20% to N13.30, while E-Tranzact International rose 33.61% to N16.30; Multi-Trex Integrated Foods doubled from N0.36 to N0.72.<\/li>\n<\/ul>\n<p>Multi-Trex recorded the strongest percentage gain in the supplied monthly data, followed by Livestock Feeds and E-Tranzact International.<\/p>\n<h4><strong>Earnings support a concentrated rally<\/strong><\/h4>\n<p>The earnings season provided another plausible driver of buying interest, with consumer goods and industrial goods companies reporting higher profits. Dangote Cement reported a 41.5% increase in nine-month pre-tax profit to N1.47 trillion, alongside the strong advance in its share price towards month-end.<\/p>\n<ul>\n<li>Despite the headline index gain, the monthly rally was concentrated in a limited number of stocks, as banking, insurance and consumer goods indices declined.<\/li>\n<li>Of the 146 securities tracked over the month, 28 gained, 72 declined and 46 were unchanged, showing that declining stocks outnumbered advancing stocks.<\/li>\n<li>In the final week, 33 equities appreciated, compared with 20 in the previous week, while 48 declined, down from 55; another 65 remained unchanged, compared with 71 previously.<\/li>\n<\/ul>\n<p>The weekly figures showed an improvement in market breadth as October drew to a close, although the monthly figures still reflected broader price weakness across the securities tracked.<\/p>\n<p>Gains in industrial stocks and selected large-cap counters therefore remained central to October\u2019s positive overall market performance.<\/p>\n<p>Source: <\/p>\n<div class=\"nSourse\">Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigerian stocks closed October with a gain of approximately N2 trillion in market capitalisation, rising from around N163.1 trillion at the end of September to N165 trillion. The supplied market&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-4963","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4963","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=4963"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/4963\/revisions"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=4963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=4963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=4963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}