The stock market’s front-runners stumbled in October. Here’s where the smart money is moving now.

U.S. stocks experienced a reversal in fortunes during October. According to MarketWatch, the artificial intelligence trade was impacted by rising borrowing costs and concerns regarding dwindling free cash flows.

In Nigeria, the stock market ended October with a market capitalization of N165 trillion, an increase of approximately N2 trillion from the end of September. Nairametrics reports that the All-Share Index rose 1.23% for the month, bringing its year-to-date return to 63.42%. Although the index faced losses during the first three weeks of the month, a 2.86% rally in the final trading week secured the second consecutive monthly gain.

Nairametrics notes that Dangote Cement was a significant contributor to the rally, with its share price rising 33.12% to close at N1,420. Other notable performers included Multi-Trex, Livestock Feeds, and E-Tranzact International. The report suggests that the earnings season, specifically for industrial and consumer goods companies, may have driven buying interest.

Brief written by urgent.news from MarketWatch, Nairametrics — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.