NGX | Nigerian Exchange Monthly Equities Report - October 2023 : Bears in the global, bulls in the local

    October was mainly characterised by bullish sentiments in the bourse, with the NGX ASI (+4.3% MoM) recovering from losses in September. The October rebound was supported by better-than-expected earnings and corporate actions, which masked concerns over the MSCI's proposed reclassification of Nigeria to a Standalone Status.


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    CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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