OANDO, UNILEVER Nigeria Boost NGX Investors Profit Up By N31bn

Equities investors made more than N31 billion on the Nigerian Exchange (NGX) thanks to increasing purchasing activity in Oando, Unilever Nigeria, and other equities.

The stock market ended today’s trading session in the green, with key performance indicators up 0.05%. The market index, or All-Share Index, rose 51.84 basis points to settle at 98,944.42.

The market gained impetus as investors rekindled their interest in certain medium and large-cap equities, with favorable price movements in OANDO, UNILEVER, FBNH, and others.

In contrast, equities market activity was down, with total volume and value traded today decreasing by 51.99% and 66.63%, respectively. Atlass Portfolios Limited reported a market update of about 283.74 million units valued at ₦8,290.75 million, traded in 7,966 trades. UBA was the most traded stock by volume, accounting for 23.29% of total volume traded on the Nigerian Exchange.

Other volume drivers are NB (13.18%), ACCESSCORP (6.20%), OANDO (6.03%), and ZENITHBANK (5.68%). UBA also became the most traded stock in terms of value, accounting for 21.62% of all deals on the market.

EUNISELL, OANDO, and UNILEVER led the advancers’ chart today, with price increases of 10.00 percent apiece. Other gainers include MCNICHOLS with (+9.79%) growth, REGALINS (+9.62%), OMATEK (+8.06%), DAARCOMM (+7.58%), ABBEYBDS (+7.55%) and twenty-three others.

Sixteen stocks depreciated, according to data from the Nigerian Exchange. ARADEL was the top loser, with a price depreciation of -9.99%. Other decliners include NNFM (-9.93%), CONHALLPLC (-6.12%), ELLAHLAKES (-4.31%), STERLINGNG (-2.24%), and ROYALEX (-1.37%).

Sectoral performance was broadly positive, with three indices closing higher. The Banking index (+2.41%) led the gains, bolstered by strong buying interest in FBNH (+6.49%), ZENITHBANK (+4.66%), and UBA (+5.19%).

The Consumer Goods index (+0.31%) followed, supported by UNILEVER (+10.00%), as investors responded positively to its recent financial results.

The Industrial Goods index (+0.05%) also edged up, driven by gains in WAPCO (+0.83%). On the downside, the Insurance index (-0.42%) fell due to negative sentiment in CONHALLPLC (-6.12%).

The Oil and Gas index remained flat, as gains in OANDO (+10.00%) were offset by losses in ARADEL (-9.99%). Overall, the equities market capitalisation increased by₦31.42 billion to close at₦59.96 trillion.