Total, Oando, Eterna: Oil Stocks Gain Investors’ Attention
Demand for oil stock has started gaining momentum on the Nigerian Exchange (NGX) trading platform as key players like TotalEnergies, Oando and ETERNA continue to cap gains.
The oil market has remained relatively stable with crude oil prices fluctuating around $70 and $80 per barrel in the global commodities market.
In the latest rally, TotalEnergies price surged by 10%, the maximum allowable daily price movement in the Nigerian Exchange. Oando Plc saw 9.98% surge in its market value while Eternal climbed by 9.96%.
Ticker: TOTAL climbed from N563 per share to N619.3 in the equities market on Tuesday as a result of heavy buying interest. The stock has gained 21% since the beginning of the week, up from N511.90 on Friday close to N619.30 on Tuesday.
Ticker: ETERNA trended higher, up by 9.96% to close the day at N25.4 per share in the domestic exchange, from N23.1 yesterday. Eterna has seen about 21% gain in the market this week.
Its share price started at N21 and has grown to N25.1 over two days in the local market due to solid demand for oil stocks. Eterna market value has inched to N33.125 billion.
Ticker: OANDO surged to N57.85 per share on the Nigerian Exchange on Tuesday. The company has been making uptrend as its acquisition taste attract investors to the oil stock. The company’s 12.431 billion shares outstanding has been valued upward by 9.98% to N719 billion on the Nigerian Exchange.
Oil and Gas index gained 4.14% on the Nigerian Exchange on Tuesday due to Oando, Total and Eterna Plc positive price appreciation. #Total, Oando, Eterna: Oil Stocks Gain Investors’ Attention
