Conoil Plc shares rose 21% in weekly trading due to positive sentiment.
After Conoil released its unaudited financial statement for the year ended 31 December 2022, investors bought the stock.
Despite CBN’s Monetary Policy Committee’s 100-basis-point lending rate increase to 17.5%.
The gain: Nairametrics found that the company’s stock price rose 20.94% or N3.852 billion to N32.05 per share at the end of the trading week from N26.50 on Monday 6th February.
Conoil’s market capitalization rose to N22.241 billion from N18.389 billion.
Financial report: Conoil’s FY 2022 profit rose 101.8% to N6.22 billion from N3.082 billion.
Despite inflation and naira depreciation, petroleum sales boosted profits.
In case you missed it: The NGX All-Share Index and Market Capitalization rose 0.21% to 54,327.30 and N29.591 trillion, respectively, last week.
NGX 30, NGX Premium, and NGX AFR Div. Yield rose by 0.34%, 1.04%, 0.50%, 0.63%, 0.51 and 0.65%, respectively, while the NGX ASeM and NGX Sovereign Bond indices were flat.
Last week, investors traded 944.293 million shares worth N22.710 billion in 18,615 deals on the Exchange, compared to 3.789 billion shares worth N27.500 billion in 20,333 deals.
The Financial Services Industry led equity turnover volume and value with 634.086 million shares valued at N6.442 billion traded in 8,540 deals, contributing 67.15% and 28.37%, respectively.
Consumer Goods followed with 78.603 million shares worth N2.218 billion in 2,993 deals. 59.564 million shares worth N110.109 million in 788 deals placed the Conglomerates Industry third.
