The Nigerian Exchange Limited, NGX, sustained its bullish momentum in October 2025, advancing 8 per cent on the back of strong corporate earnings, renewed foreign portfolio inflows, and market-friendly policy reforms that continue to reinforce investor confidence.

The NGX All-Share Index, ASI, climbed from 142,713.1 points at the beginning of the month to 154,126.4 points at the close, with over 12 billion shares traded during the period.

The performance marked October as the second-best month of the year, trailing only July’s 16.57 per cent surge. Year-to-date, the market has appreciated by 49.74 per cent, driven by robust second-half momentum and resilient investor sentiment.

Except for a marginal dip of 1.99 per cent in March, every other month in 2025 has ended in the green.

This underscores the sustained optimism around Nigeria’s equity market amid ongoing fiscal and monetary reforms.

Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, said the market’s performance reflects growing investor trust in Nigeria’s economic trajectory.

“The consistent market performance we are witnessing reflects a renewed sense of confidence in Nigeria’s economic direction.

“The combination of strong corporate earnings, improving liquidity conditions, and credible policy actions has created a more predictable environment for investors,” Popoola stated.

He added that at NGX Group, the management is focused on deepening market resilience and positioning our platform for sustainable long-term growth.”

Sectoral performance was largely positive, with the Industrial Goods Index emerging as the top performer, soaring 17.5 per cent to 5,955.8 points. Cement giants Dangote Cement, up 25.69 per cent; BUA Cement, up 12.5 per cent; and Lafarge Africa, up 11.91 per cent, led the charge.

The Oil and Gas Index notched its strongest monthly gain of the year, rising 15.45 per cent on the back of firm crude prices and impressive earnings by Aradel Holdings, up 27.15 per cent, and Seplat Energy, up 10 per cent.

The Consumer Goods Index advanced 4.85 per cent, marking its seventh consecutive monthly gain, buoyed by BUA Foods, up 9.97 per cent; PZ Cussons, up 20.29 per cent; and Vitafoam, up 17.79 per cent.

The Insurance Index climbed 3.37 per cent, driven by Sovereign Trust Insurance, up 30 per cent, and AIICO Insurance, up 11.71 per cent, while the Banking Index was the only laggard, shedding 3.15 per cent due to profit-taking in tier-one lenders.

Commenting on the outlook, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, said the October rally underscores the market’s depth and resilience.

“Our priority remains to enhance market efficiency and ensure that the Exchange continues to reflect Nigeria’s economic strength and growth potential,” he noted.

With two months left in the year, analysts say investors will be watching corporate guidance and macroeconomic stability indicators closely to determine whether the rally can extend into 2026.

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).