Economy
Conoil, Airtel Africa, Lift Stock Market by 0.78% Amid Weak Sentiment
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded on Monday by 0.78 per cent amid a weak investor sentiment caused by uncertainties in the macroeconomic environment.
Buying interest in most of the sectors of the bourse lifted the stock market yesterday as traders keep an eye on the presidential election this weekend in Nigeria.
Apart from the industrial goods space, which depreciated by 0.05 per cent, every other sector closed in the positive region at the close of transactions.
The energy index appreciated by 0.86 per cent, the baking counter improved by 0.18 per cent, the insurance ecosystem went up by 0.13 per cent, and the consumer goods sector grew by 0.02 per cent.
Consequently, the All-Share Index (ASI) moved up by 419.89 points to 54,224.35 points from 53,804.46 points, as the market capitalisation increased by N229 billion to N29.539 trillion from N29.310 trillion.
The market breadth was negative yesterday despite the growth posted by the exchange, as there were 14 price gainers and 15 price losers.
Conoil gained 9.93 per cent to finish at N38.75, CWG appreciated by 9.88 per cent to 89 Kobo, John Holt rose by 9.77 per cent to N1.46, Living Trust Mortgage Bank improved by 9.57 per cent to N2.52, and Tripple Gee expanded by 9.55 per cent to N2.18.
Conversely, Capital Hotels lost 9.42 per cent to settle at N2.50, Vitafoam depreciated by 7.18 per cent to N19.40, Chams fell by 6.90 per cent to 27 Kobo, NAHCO went down by 3.57 per cent to N8.10, and Ecobank decreased by 2.83 per cent to N12.00.
At the close of business, investors traded 154.6 million shares worth N5.5 billion in 3,095 deals, in contrast to the 172.9 million shares worth N3.8 billion traded in 3,077 deals in the preceding session, indicating a decline in the trading volume by 10.58 per cent, an improvement in the trading value and the number of deals by 44.74 per cent, and 0.58 per cent, respectively.
Business Post reports that GTCO was the most active stock during the session, as it sold 36.7 million units. Zenith Bank traded 30.3 million units, AIICO Insurance transacted 8.3 million units, Axa Mansard traded 7.8 million units, and Living Trust Mortgage Bank exchanged 6.3 million.
By Adedapo Adesanya
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key monetary policy parameters following the conclusion of its two-day meeting on July 21, 2026, on Tuesday, maintaining its tight monetary policy stance to curb inflation and support macroeconomic stability.
According to the Governor of the apex bank, Mr Yemi Cardoso, who chaired the committee, the Monetary Policy Rate (MPR), which serves as the benchmark interest rate, remains at 26.50 per cent. The MPC also retained the asymmetric corridor around the MPR at +50 basis points and -450 basis points.
In addition, the Cash Reserve Ratio (CRR) for commercial banks was left unchanged at 45.00 per cent, while the CRR for merchant banks remains at 16.00 per cent. The committee also retained the CRR on non-Treasury Single Account (Non-TSA) public sector deposits at 75.00 per cent, with the liquidity ratio at 30.00 per cent.
The decision reflects the apex bank’s continued commitment to containing inflationary pressures through a restrictive monetary policy while safeguarding the resilience of Nigeria’s financial system amid ongoing macroeconomic adjustments.
By keeping all policy tools unchanged, the MPC signalled its intention to continue managing excess liquidity in the banking sector and maintain stability in financial markets.
The move is also expected to provide greater policy certainty for investors and businesses monitoring the country’s monetary policy direction.
The latest decision also means borrowing costs are likely to remain elevated in the near term as the central bank continues to prioritise price stability over monetary easing.
Analysts had expected the CBN committee to retain the rate after Nigeria’s headline inflation came in at 15.91 per cent as of June 2026, marking a slight decline from 15.93 per cent in May.
However, even as overall price growth has moderated significantly compared to previous periods, food inflation remains a persistent challenge, accelerating to 17.52 per cent in June.
By Aduragbemi Omiyale
Shareholders of Unilever Nigeria Plc will receive an interim dividend of N2 per share, the board of the organisation has said.
The cash reward was announced after the company released its financial statements for the first half of the year ended June 30, 2026.
The payment will be made on Friday, August 14, 2026, only to investors whose names appear on the Register of Members at the close of business on Friday, July 31, 2026.
A quick look at the financial performance of the firm in the first six months of this year showed that revenue improved by 22.22 per cent to N119.9 billion from the N98.1 billion achieved in the corresponding period of last year.
A rise in earnings also resulted in a 16.43 per cent surge in cost of sales, though this did not shrink the gross profit, which rose by 29.93 per cent to N54.7 billion from N42.1 billion. The operating profit stood at N24.4 billion in the period under review, higher than N18.8 billion in the same period of 2025, while the net finance income contracted by 9.43 per cent to N4.8 billion from N5.3 billion due to elevated borrowing costs.
Business Post reports that despite higher taxes paid in the first six months of 2026, the net profit grew by 8.33 per cent to N15.6 billion from N14.4 billion, enabling the board to pass on value to shareholders for their faith in the firm.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange opened the week with a 0.52 per cent rise on Monday, July 20, driven by renewed buying interest.
The volume of securities traded during the opening session surged by 6,663.3 per cent to 52.6 million units from the previous 777,002 units, and the value of securities rose by 200.9 per cent to N191.2 million from the preceding session’s N104.2 million, while the number of deals depreciated by 15.2 per cent to 28 deals compared to the preceding session’s 33 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion in trades, and Central Securities Clearing System (CSCS) Plc with 75.4 million units exchanged for N5.3 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
Yesterday, there were two price gainers and three price losers, led by FrieslandCampina Wamco Nigeria Plc, which slid by 66 Kobo to end at N141.15 per unit versus last Friday’s N141.81 per unit, Food Concepts Plc lost 24 Kobo to close at N2.31 per share versus N2.55 per share, and Geo-Fluids Plc declined by 17 Kobo to settle at N2.25 per unit compared with the previous closing price of N2.42 per unit.
Conversely, CSCS Plc chalked up N5.19 to close at N99.33 per share versus N94.14 per share, and Mass Telecoms Plc appreciated by 3 Kobo to sell at 35 Kobo per unit from 32 Kobo per unit.
As a result, the market capitalisation increased by N13.57 billion to N2.606 trillion from N2.593 trillion, and the NASD Security Index (NSI) gained 22.6 points to quote at 4,343.27 points, in contrast to the previous 4,320.67 points.
