Nigeria’s equities market reached new high on Thursday July 22 as investors who returned from a two-day public holiday saw re-entry opportunity to increase their returns in value stocks. Of investors’ topmost interest on Thursday were shares of Total Nigeria Plc, Oando Plc and Dangote Cement Plc.
These stocks and seventeen (17) others pushed listed equities value higher by N330billion at the close of trading while the Nigerian Exchange Limited (NGX) All Share Index (ASI) increased by 1.67 percent.
Following the record 20 gainers as against 12 losers, the stock market’s year-to-date (YtD) negative returns moderated to -4.18percent. This month, the market has increased by 1.79 percent, though in this holiday-shortened week, it has increased slightly by 1.68percent.
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The NGX ASI and Market Capitalisation which stood at 37,952.65 points and N19.773trillion respectively on Monday increased to 38,585.52 points and N 20.103trillion on Thursday. In 3,969 deals, investors exchanged 203,110,772 shares valued at N1.724billion.
Following an impressive outing by Total Nigeria Plc in first half (H1) of year 2021, the company proposes to pay its shareholders interim dividend of N4 per 50 kobo ordinary share, subject to appropriate withholding tax and approval.
As investors rushed to Custom Street, Lagos buying Total Nigeria shares ahead of qualification date for the interim dividend payment, the share price moved up most on Thursday July 22, from day-open low of N168 to N184.80, adding N16.80 or 10percent.
Other stocks that rallied on the Nigerian Bourse on Thursday are: Cutix Plc which rose from N3.99 to N4.38, adding 39kobo or 9.77percent; Oando Plc which also increased from N3.29 to N3.61, adding 32kobo or 9.73percent.
Also on the top advancers list is Dangote Cement Plc which increased from N230 to N248, adding N18 or 7.83percent, and Courteville Business Solutions Plc which rose from 22kobo to 23kobo, adding 1kobo or 4.55percent.
Total Nigeria Plc’s N4 interim dividend (about N1.36billion) will be paid to shareholders whose names appear in the Register of Members as at the close of business on August 13, 2021, according to the corporate action announcement at the Nigerian Exchange Limited (NGX) signed by Bunmi Popoola-Mordi, Company Secretary, Total Nigeria Plc.
Oando Plc recently settled its rift with the Securities and Exchange Commission (SEC) without accepting or denying liability, on the following terms amongst others: Immediate withdrawal of all legal actions filed by the Company and all affected directors; Payment of a monetary sum; and an undertaking by the Company to implement corporate governance improvements.
