The Nigerian Trade wrapped up October 2025 on a powerful word, gaining 8% and lengthening the bullish run that started in April.
Tracked by the NGX All-Share Index, the market opened the month at 142,713.1 factors and closed at 154,126.4 factors, with over 12 billion shares traded as investor exercise stayed sturdy.
This spectacular efficiency makes October the second-best month of 2025 to date, trailing solely the strong 16.57% rally recorded in July.
Thus far this yr, the NGX has posted just one adverse month, a modest 1.99% dip in March, bringing its year-to-date return to a powerful 49.74%, with the second half alone contributing 28.46% already.
The sturdy momentum was pushed by sharp positive aspects in particular person shares and optimistic sector-wide efficiency, as traders probably reacted to a flood of upbeat Q3 earnings.
Up subsequent, we take a better have a look at the sectors and shares that powered this October surge.
The NGX Industrial Items Index dominated sectoral efficiency in October, delivering a powerful 17.50% return.
Opening at 5,068.7 factors, the index climbed steadily to shut at 5,955.8 factors, with over 352 million shares traded as traders rotated strongly into industrial shares.
A lot of this bullish momentum got here from the cement giants that anchor the sector.
Past the large three, different industrial counters additionally posted optimistic strikes — Berger Paints rose 8.97%, Cutix gained 4.44%, whereas Chemical & Allied Merchandise superior 2.82%.
The NGX Oil and Gasoline Index adopted carefully with a powerful 15.45% improve month-to-date in October, marking its finest month of 2025 to date.
Beginning the month at 2,523.1 factors, the index jumped to 2,912.8 factors as bullish sentiment strengthened throughout the sector, with 212 million shares traded.
Heavyweights comparable to Aradel Holdings surged 27.15%, whereas Seplat Power superior 10.00%, each benefiting from the optimistic sentiment at present within the oil and gasoline sector.
Oando Plc additionally added 4.46%, recording its most bullish month since July 2025 as traders probably priced in its bettering fundamentals.
The NGX Shopper Items Index was the third-best performing sector in October, rising 4.85% on a market quantity of 615 million shares.
Beginning at 3,370.9 factors, the index crossed the three,500 mark to settle at 3,534.3 factors, marking its seventh consecutive month of positive aspects since April.
Supporting performers included PZ Cussons Nigeria (+20.29%), Vitafoam Nigeria (+17.79%), NASCON Allied Industries (+14.58%), Unilever Nigeria (+5.48%), and Nestlé Nigeria (+2.41%), which collectively bolstered the sector’s regular upward trajectory.
The NGX Insurance coverage Index prolonged its positive aspects in October, rising 3.37% as traders continued to favor the sector’s low-priced, high-volume shares. Buying and selling was sturdy, with greater than 2.1 billion shares exchanged through the month.
The index, which opened at 1,191.0 factors, added 40.2 factors to shut at 1,231.2 factors, supported by broad-based positive aspects throughout key tickers.
Sovereign Belief Insurance coverage led the cost with a powerful 30% improve, whereas AIICO Insurance coverage (+11.71%) and NEM Insurance coverage (+10.91%) additionally posted sturdy advances.
Different contributors included Consolidated Hallmark (+9.22%), Common Insurance coverage (+5.26%), Regency Alliance (+2.50%), and Cornerstone Insurance coverage (+1.65%), all including to the sector’s optimistic momentum.
The NGX Banking Index was the one main sector to shut in adverse territory, falling 3.15% in October, as weak spot throughout tier-one names offset positive aspects in choose mid-tier lenders.
Regardless of notable positive aspects in Wema Bank (+20.29%), Ecobank (+8.19%), and Stanbic IBTC (+2.75%), losses among the many FUGAZ banking names dragged the index decrease.
