Oando Plc Halts Losing Streaks, Soars by 10%
Oando Plc bucked the negative trend in the equities segment of the Nigerian Exchange, NGX, with 10% price appreciation as investors traded more than 3.4 million units valued at about N181 million on Thursday.
The indigenous oil company with strong expansion focus and strategy lost its allure in the recent past weeks. Its share price has been on successive declines due to sell pressures amidst its share distribution plan.
Investors’ negative sentiment has dragged Oando Plc’s market value quiet lower in 2025 after impressive stock market record performance last year. The company’s share price climbed to N52.8 in the equities market on Thursday, 10% higher than its opening price of N48, as demand gathered steam on the Nigerian Exchange.
In the last four trading sessions, the market has experienced huge trading volume on Oando stocks, which has negatively affected its price movements. At the close of price of N52.8, Oando Plc is trading at more than 46% discount to its 52-week high in the equities market.
The market valued Oando’s 12.431 billion shares outstanding for N656.378 billion. #Oando Plc Halts Losing Streaks, Soars by 10% CBN Rejects N1.6trn from Investors, Cuts Treasury Bills Rates
