Dangote Cement Drives N2.01 Trillion Market Surge in October
In October 2026, the Nigerian Exchange (NGX) experienced a N2.01 trillion increase in equity market capitalisation, rising by 1.23% to N165.11 trillion from N163.10 trillion at the end of September. This growth was primarily driven by Dangote Cement (NGX: DANGCEM), which gained 33.12%, closing at N1,420 per share from N1,066.70 at the end of September.
The benchmark All-Share Index (ASI) increased to 254,299.49 points from 251,211.67 points, reflecting a gain of approximately 1.23% or 3,087.82 points. The rally was particularly strong towards the end of the month, 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%.
The NGX Industrial Index rose by 16.85% to 12,199.20 points, largely due to Dangote Cement's performance. Analysts at Cordros Securities Limited expect cautious trading as investors assess earnings releases, while Cowry anticipates selective buying and profit-taking.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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