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Market capitalisation rose by N1.471 trillion to N160.519 trillion, while the All-Share Index advanced to 247,222.27.
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Market breadth remained slightly negative, with 23 gainers against 25 decliners.
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Dangote Cement and First HoldCo led the gainers with 10.00 percent increases, while Livestock Feeds topped the decliners, falling 9.79 percent.
October 23, (THEWILL) – The Nigerian Exchange Limited (NGX) rebounded on Friday as market capitalisation increased by N1.471 trillion, rising from N159.048 trillion at the opening to N160.519 trillion at the close of trading.
The All-Share Index (ASI) also advanced by 2,265.33 points, or 0.93 percent, from 244,956.94 to 247,222.27, reflecting renewed buying interest in selected equities.
Despite the market’s positive performance, breadth remained slightly negative, as 23 stocks recorded gains while 25 declined.
The session also saw several stocks close unchanged, including MTN Nigeria Communications, Presco Plc, Okomu Oil Palm, John Holt Plc, Custodian Investment Plc and UAC of Nigeria, among others.
Top Gainers
- Dangote Cement advanced by 10.00 percent (N1,010.00 to N1,111.00).
- First HoldCo gained 10.00 percent (N131.00 to N144.10).
- Guinea Insurance rose by 9.41 percent (N0.85 to N0.93).
- Fidelity Bank appreciated by 9.09 percent (N22.00 to N24.00).
- FTN Cocoa Processors gained 5.60 percent (N7.50 to N7.92).
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Top Decliners
- Livestock Feeds fell by 9.79 percent (N18.90 to N17.05).
- Tripple Gee declined by 8.74 percent (N3.09 to N2.82).
- UPDC Real Estate Investment Trust shed 8.14 percent (N19.05 to N17.50).
- HBM Nigeria lost 7.65 percent (N379.00 to N350.00).
- Neimeth International Pharmaceuticals declined by 6.58 percent (N7.60 to N7.10).
Market Outlook
The market’s rebound lifted overall capitalisation and the All-Share Index, although the higher number of decliners suggests that the recovery was not broad-based.
Investors are expected to monitor price movements across major stocks and the balance between buying and selling pressure for further direction in the next trading session.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
