CMFC, UPDC REIT lead market’s N5tn September gain
Critical Minerals Financing Corporation Plc emerged as the best-performing stock in September, leading the Nigerian market to a N5.366tn gain. Read More: https://punchng.com/cmfc-updc-reit-lead-markets-n5tn-september-gain/
CMFC, a critical minerals-focused investment banking institution, led the Nigerian market's significant 5 trillion naira (N5tn) gain in September, with investor demand surging for its shares. According to trading data from the Nigerian Exchange Group (NGX), CMFC achieved an impressive average capital gain of 55.96 percent during the month, surpassing the market's average gain of 2.87 percent.
Dr. Israel Ovirih, CMFC's President and Co-CEO, was honored as one of Nigeria's top 25 CEOs at the BusinessDay Top 25 CEOs Awards, organized in collaboration with the NGX. The recognition came after Banklink Africa Private Equity acquired a majority stake in Deap Capital Management & Trust Plc and its subsequent corporate restructuring.
UPDC Real Estate Investment Trust (UPDC) followed closely with a 45.42 percent gain, while Zichis Agro Allied Industry and Nigerian Exchange Group recorded 36.77 percent and 35.68 percent gains, respectively. The broader equities market experienced portfolio rebalancing, profit-taking, and primary market activity throughout September, with the All-Share Index rising from 244,199.39 points to 251,211.67 points and regaining the 250,000-point threshold.
Market capitalization expanded by 3.40 percent, increasing from N157.739 trillion to N163.105 trillion.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
