These were the 5 best-performing ASX All Ords shares in September

These All Ords shares bucked the market weakness to shoot the lights out in September.

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The S&P/ASX All Ordinaries Index (ASX: XAO) had another treacherous month in September as concerns of rising inflation and interest rates continued to rattle the market.

The ASX All Ords index shed 7.6% across the month to close out September at 6,679 points.

But amongst the sea of red were some standout performers. Let's check them out.

AMA Group Ltd (ASX: AMA)

Topping the ASX All Ords tables in September was smash repairer AMA Group, which clocked in a 43.8% gain across the month.

Prior to this, 2022 hadn't been kind to the AMA share price but the company's FY22 results, which were delivered in late August, may have turned the tide.

Last week, AMA also announced it will be divesting its FluidDrive business for $2.45 million in order to sharpen its focus on the core business.

CogState Limited (ASX: CGS)

Taking out the silver medal is neuroscience technology company CogState, which soared 34.2% in September.

There wasn't any direct news from CogState during the month. But it appears an announcement from one of its partners, Eisai, sent the market into overdrive

Eisai revealed that its experimental drug for the treatment of Alzheimer's disease has helped slow cognitive and functional decline in patients in the early stages of the illness.

While CogState won't directly benefit from this, it noted that these results could "lead to a general increase in research and development expenditure in respect of Alzheimer's disease, which may provide additional sales opportunities."

New Hope Corporation Limited (ASX: NHC)

Rounding out the podium finishes is ASX coal miner New Hope. In fact, it led the way for the ASX 200 in September with a 28.4% rise.

The New Hope share price has been supported by sky-high coal prices as demand continues to outpace supply. 

New Hope also lifted the lid on a strong set of FY22 results last month. These results were headlined by a 12-fold increase in profits and a bumper dividend.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price continued to set new all-time highs in September, lighting up with a 24.9% gain.

Pilbara shares have been on a tear this year as the hype for ASX lithium shares reaches fever pitch. 

During the month, Pilbara announced the results of the ninth auction on its battery material exchange (BMX) platform. The highest bid came in at US$6,988 per dry metric tonne (dmt), surpassing the winning bid of US$6,350/dmt in August.

Bullish broker notes from JP Morgan and Macquarie also boosted the Pilbara Minerals share price in September.

Argosy Minerals Limited (ASX: AGY)

Last but not least, not far behind Pilbara was fellow ASX lithium share Argosy Minerals, which punched in a monthly rise of 21.4%.

During the month, investors were given the opportunity to run the rule over Argosy's first-half 2022 results, which saw net profit skyrocket 3,015% to $2.7 million.

Argosy also provided an update on drilling works at its Rincon Lithium Project, which are progressing better than scheduled.

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CogState Limited. The Motley Fool Australia has positions in and has recommended CogState Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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