Critical Minerals Financing Corporation (CMFC) Plc led gainers on the Nigerian Exchange (NGX) in September, appreciating by 55.96 per cent.
UPDC Real Estate Investment Trust (UPDC REIT) ranked second with a 45.42 per cent gain, followed by Zichis Agro Allied Industry at 36.77 per cent and NGX Group at 35.68 per cent. Seplat Energy and VFD Group gained 29.90 per cent and 28.89 per cent, respectively.
Other top gainers were ABC Transport, Eterna, Royal Exchange Assurance and Consolidated Hallmark Insurance, which rose by 28.57 per cent, 22.91 per cent, 19.79 per cent and 18.47 per cent, respectively.
The NGX All-Share Index rose 2.87 per cent during the month, from 244,199.39 points to 251,211.67 points, while market capitalisation increased by N5.37 trillion to N163.105 trillion.
Market analysts attributed the performance to renewed demand for value stocks, portfolio rebalancing and profit-taking.
CMFC recorded 4,895 deals involving 253.25 million shares valued at N700.12 million during the month, pushing its market capitalisation above N11.10 billion.
Meanwhile, International Energy Insurance recorded the biggest decline, losing 20.21 per cent, followed by Chams Plc, Austin Laz, Tripple Gee and Company and Transcorp Power.
CMFC’s strong performance followed the recognition of its President and Co-Chief Executive Officer, Dr Israel Ovirih, among Nigeria’s Top 25 CEOs.
The company focuses on structured financing and other support for Africa’s minerals and metals sector, while Ovirih said it remained committed to unlocking value in the continent’s critical minerals industry.
