After four days in a row of losses, the Nigerian stock market ended the week and month with a gain of ₦285.48 billion for investors. The market recovery was mostly fueled by improved results from Julius Berger Nigeria, Transnational Corporation, and Access Holdings.
The benchmark All-Share Index (ASI) closed at 154,126.45 points on Friday, October 31, up 0.29% from 153,676.66 points during the previous session, according to statistics from the Nigerian Exchange (NGX). As a result, the year-to-date (YTD) return improved to 49.74% and the market capitalization rose to ₦97.83 trillion.
Trading activity increased dramatically, with 30,598 transactions totaling 5.20 billion shares valued at ₦45.16 billion, a 553.57% increase. With 89.99% of the entire volume, Cornerstone Insurance dominated trade. Guaranty Trust Holding Company (GTCO) and Access Holdings were in second and third, respectively, with contributions of 1.28% and 0.90%. With 49.01% of all trades, Cornerstone Insurance led by value, followed by GTCO and Aradel Holdings.
Leading Gainers
Bond for FGN Sovereign Sukuk 2027 Series 3: ₦78.00 -> ₦94.93 (+21.71%)
Julius Berger Nigeria Plc: ₦138.00 -> ₦151.80 (+10.00%)
Learn Africa Plc: ₦5.90 -> ₦6.49 (+10.00%)
Cornerstone Insurance Plc: ₦5.60 -> ₦6.15 (+9.82%)
ASO Savings and Loans Plc: ₦0.94 -> ₦1.03 (+9.57%)
Leading Losers
McNichols Plc: ₦3.30 -> ₦2.97 (–10.00%)
Eterna Plc: ₦40.00 -> ₦36.00 (–10.00%)
Deap Capital Management & Trust Plc: -10.00% ₦1.90 → ₦1.71
Sunu Assurances Nigeria Plc: ₦5.01 → ₦4.51 (–9.98%)
Legend Interiors Plc: ₦5.84 -> ₦5.26 (–9.93%)
The Most Active Stocks
4.68 billion shares of Cornerstone Insurance, valued at ₦22.13 billion
GTCO: 66.44 million shares valued at ₦5.94 billion
Access Holdings: 46.60 million shares valued at ₦1.11 billion
Oando Plc: 32.10 million shares valued at ₦1.57 billion
27.52 million shares of Universal Insurance, valued at ₦31.95 million
Members of the Monetary Policy Committee (MPC) voiced optimism regarding the medium-term stability of the naira. Speculative activity has drastically decreased, promoting price discovery and market transparency, according to MPC member Bala Moh’d Bello. Additionally, he said that Nigeria had enough foreign reserves to cover around 9.5 months’ worth of imports, with $40.11 billion as of mid-July.
