Oando, NGX Group Drives Intraday Rally in Equity Market
The Nigerian stock market is getting puffy during the intraday trading session, with Oando and the Nigerian Exchange Group, among other early risers, leading the momentum. The local bourse has been on first for most of the second half of 2025 amidst declining yield on naira assets in the fixed income market.
Disinflation and stable exchange rates have triggered yield repricing, and tight supply of fixed-interest securities assets continues to drag rates lower. With huge free funds, the equity market has gained investors attention, and partly, fear of missing out has boosted the level of bargain hunting the local bourse has witnessed.
The Nigerian Exchange year-to-date return is heading toward the 30% benchmark, its all-time high since the pre-global financial crunch era, ahead of the second quarter earnings release. At midday, the NGX All-Share Index edged up by 0.07%, Alpha Morgan Limited said in an emailed note sent to investors, reflecting a mildly positive market sentiment.
Stockbrokers said the modest gain was driven by renewed investor interest in some mid to high capitalized stocks. Top intraday gainers include OANDO 9.20%, NGXGROUP 4.28%, FIRSTHOLDCO 3.75%, VFDGROUP 2.26%, UCAP 2.19%, FCMB 2.13%, WAPCO 1.62%, NASCON 1.18%, INTBREW 1.09%, ARADEL 1.00%, TRANSCORP 0.71%, PRESCO 0.45%, STANBIC 0.25%, among others. #Oando, NGX Group Drives Intraday Rally in Equity Market CBN Cuts Spot Rates on Nigerian Treasury Bills, Rejects Bids
