Oando Plc hits 1trn market cap

Oando Plc has been initiated into the N1 trillion list on the Nigerian stock market.

The oil company joins MTN , Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GT, Zenith Bank, Seplat Energy, First Bank, Geregu and TransPower.

This is as Nigeria’s equities market garnered additional N45 billion on Tuesday after rising by 0.08 percent at the close of trading.

Investor’s interest in stocks like IMG, Eterna, C& I Leasing and eTranzact helped the market to close further in the positive zone despite profit taking in counters like RT Briscoe, Abbey Mortgage Bank, and other major laggards.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation also rose further on Tuesday from preceding day’s 96,793.95 points and N55.601 trillion respectively to 96,873.74 points and N55.646 trillion.

The slightly positive close on the Lagos Bourse came as stock investors in 12,532 deals exchanged 473.003 million shares worth N10.411 billion.

Stocks like Access Holdings, Oando, Prestige Assurance, UBA and Transcorp were actively traded on Tuesday. The market’s return year-to-date (YtD) increased to 29.56 percent.

IMG rose by N2.90 or 10 percent, from N29 to N31.90, C & I Leasing increased by 37 kobo or 10 percent, from N3.70 to N4.07, Eterna rose from N29.30 to N32.20, adding N2.90 or 9.90 percent, while eTranzact advanced from N5.60 to N6.15, adding 55 kobo or 9.82 percent.