Citi edges out Goldman Sachs to lead global IPO underwriting through September: report

CMFC, UPDC REIT, and eight other stocks led the Nigerian Exchange (NGX) higher in September, as listed equities gained N5.37 trillion in market value during the month. CMFC emerged as the best-performing stock, recording a 55.96 per cent average gain, significantly outperforming the broader market, which rose 2.87 per cent during the period.

Other top gainers included UPDC REIT, Zichis Agro Allied Industry, Nigerian Exchange Group (NGX Group), and Seplat Energy. The performance was attributed to portfolio rebalancing, profit-taking, and significant primary-market activity, with analysts attributing the movement in individual stocks to renewed demand for value opportunities.

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