Economy
Investors Gain N394bn as Hunt for Fundamentally Strong Stocks Persists
By Dipo Olowookere
The bargain-hunting for fundamentally strong stocks on the floor of the Nigerian Exchange (NGX) Limited expanded investors’ portfolios by 1.10 per cent on Tuesday.
This was because the market capitalisation of Customs Street grew by N394 billion to N35.933 trillion from N35.539 trillion at the close of transactions, as the All-Share Index (ASI) increased by 720.53 points to 65,988.81 points from 65,268.28 points.
The growth printed by the local bourse came despite the Central Bank of Nigeria (CBN) not announcing its rate decision before the close of business like in the past.
The CBN announced the outcome of its two-day Monetary Policy Committee (MPC) meeting yesterday some minutes past 5 pm.
The interest rate was raised by 0.25 per cent to 18.75 per cent. Investors will have to react to this development in the market today.
The domestic stock market was able to maintain its upright posture due to buying pressure on the energy and banking sectors, which grew by 3.25 per cent and 0.45 per cent apiece, offsetting the losses printed by the others.
The industrial goods counter depreciated by 0.14 per cent, the insurance sector went down by 0.06 per cent, and the consumer goods space declined by 0.02 per cent.
Unlike the preceding trading day, investor sentiment was bullish on Tuesday as the bourse ended with 32 appreciating stocks and 30 depreciating stocks, indicating a positive market breadth.
Ikeja Hotel and FTN Cocoa topped the gainers’ log after they grew by 10.00 per cent each to settle at N2.97 and N2.42, respectively, as Seplat gained 9.99 per cent to trade at N1,539.70, SAHCO rose by 9.83 per cent to N19.55, and Japaul increased by 9.78 per cent to N1.01.
On the flip side, Conoil and Learn Africa fell by 10.00 per cent each to N101.25 and N3.69 apiece. John Holt declined by 9.96 per cent to N2.44, Multiverse depleted by 9.88 per cent to N3.01, and Thomas Wyatt slipped by 8.45 per cent to N1.30.
Business Post reports that traders transacted 553.5 million shares valued at N7.4 billion in 8,313 deals yesterday compared with the 831.5 million shares worth N12.9 billion traded in 9,768 deals on Monday, representing a decline in the trading volume, value, and the number of deals by 33.43 per cent, 42.64 per cent, and 14.90 per cent apiece.
This decline in the activity level was largely due to cautious trading as investors awaited the outcome of the MPC meeting, which did not come on time.
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.
