Oando, Cutix, other stocks spur NGX first gain this week

…NGX-ASI up 0.12%

After consecutive days of negative closes, Oando Plc and other major advancers on Tuesday helped the Nigerian stock market to record its first gain this week.

The Central Bank of Nigeria (CBN) is scheduled to hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on Wednesday August 21.

At the PMA, existing T-Bills totaling N409.98billion (N60.69billion, N66.25billion and N283.04billion across the 91-day, 182-day, and 364-day instruments, respectively) will mature and be rolled over.

On Tuesday, the stock market closed higher by +0.12 percent, while investors gained N67billion thereby reducing the week’s negative return to -1.24 percent and this month’s return to -1.50 percent. The year-to-date (YtD) return has increased to +28.25 percent.

Read also: Stock market dips by 1.51% in week ended August 16

NGX Banking Index closed higher by 0.44 percent, NGX Oil & Gas Index (+0.43 percent), NGX Insurance Index (+0.23 percent), while NGX Industrial Index increased slightly by 0.02 percent. Meanwhile, NGX Consumer Goods Index dropped by 0.08 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased from preceding day’s 95,779.79 points and N54.381trillion respectively to 95,895.92 points and N54.448trillion.

In 8,295 deals, investors exchanged 1,013,950,890 shares worth N7.687billion. Learn Africa share price increased most from N3.52 to N3.87, adding 35kobo or 9.94 percent. Oando rose from N39.40 to N43.30, adding N3.90 or 9.90percent.

Cutix advanced from N2.64 to N2.90, adding 26kobo or 9.85percent. RT Briscoe moved up from N1.87 to N2.05, adding 18kobo or 9.63percent, while University Press increased from N2.45 to N2.66, adding 21kobo or 8.57 percent.