October 10, (THEWILL) — The Nigerian Exchange (NGX) closed on a positive note on Friday, October 10, as the All-Share Index (ASI) rose from 146,204.34 points to 146,988.04 points, reflecting a gain of 783.70 points. Similarly, market capitalisation appreciated by N497.41 billion, moving from N92.79 trillion to N93.29 trillion.
Market breadth ended balanced, with 25 gainers and 25 losers, signalling cautious investor optimism amid profit-taking in select counters.
Top Gainers
The day’s rally was driven by heavyweight stocks, including:
Dangote Cement, up 6.48% from N540.00 to N575.00
FG202031S1, up 6.18% from N103.07 to N109.44
NEM Insurance, up 5.23% from N27.70 to N29.15
Jaiz Bank, up 4.65% from N4.30 to N4.50
FTN Cocoa, up 3.57% from N5.60 to N5.80
Top Losers
On the downside, notable decliners included:
UHOMREIT, down 9.98% from N57.60 to N51.85
Meyer Plc, down 9.85% from N16.75 to N15.10
SterlingNG, down 9.58% from N8.35 to N7.55
Cornerstone Insurance, down 6.90% from N6.67 to N6.21
eTranzact, down 6.25% from N16.00 to N15.00
Flat Counters
Among the unchanged equities were MTN Nigeria Communications, Seplat Energy, Custodian Investment Plc, Julius Berger, and Golden Guinea Breweries, indicating selective investor participation in the large-cap segment.
Sectoral Highlights
Industrial and consumer goods stocks dominated the session, buoyed by renewed confidence in the manufacturing and fiscal policy outlook.
Financial services counters, led by Jaiz Bank, also posted modest gains amid sustained liquidity inflows.
Conversely, the real estate and technology sectors lagged, with UHOMREIT and eTranzact closing among the day’s major laggards.
Market Sentiment and Outlook
Analysts described the session as “selectively bullish,” with gains in large-cap stocks offsetting declines across mid- and small-cap names.
The balanced breadth (25 gainers and 25 losers) highlights a market in consolidation mode, as investors position ahead of third-quarter earnings and macroeconomic indicators.
With today’s N497.41 billion uptick in market capitalisation, the NGX maintains a resilient tone amid broader economic uncertainties.
Investors continue to favour blue-chip stocks with strong fundamentals, while exercising caution in sectors exposed to regulatory or earnings pressures.
Market analysts expect trading to remain mixed in the coming week, with sentiment driven by earnings expectations, liquidity trends, and policy developments in the industrial and financial sectors
Ogochukwu Onwaeze
