The NGX saw a slight decline as Oando Plc reached its highest share price since 2015. Despite gains in oil and gas stocks, MTN's decline overshadowed the market, resulting in an overall loss. Market activity surged, with significant increases in turnover volume and value.
On July 4, the Nigerian Exchange (NGX) saw a minor decline as the All-Share Index dropped to 100,063.32 points from 100,299.48 points. Oando Plc and Conoil Plc emerged as top gainers, with Oando hitting its highest share price since June 2015 at N15.50. Despite these gains, a significant decline in MTN’s share price led to an overall market loss.
The NGX’s market capitalization decreased by N136.17 billion, closing at N56.601 trillion. While Oando experienced a 47.62% year-to-date increase in NGX, it faced a stark contrast in the Johannesburg Stock Exchange, where its value plummeted by 55%. Market activity surged, with turnover volume and value significantly increasing.
Top gainers included Oando, Conoil, Veritas Kapital Assurance, Neimeth, and Jaiz Bank, while top decliners were Daar Communications, UPDC REIT, Guinea Insurance, University Press Limited, and MTN Nigeria. Fidelity Bank led in trading volume and value, highlighting active participation in the market despite overall declines.
