Oando Plc Traded 3.78% of Total Market Volume Yesterday


Friday, January 05, 2018 / 02:28PM / Proshare Research 

At the closing of trading on January 4, 2018, about 31.17m volume of shares of Oando Plc valued at N186.71mln was consummated as against 12.52m volume of shares valued at N75.01mln consummated the previous day. This represents 148.90% growth in comparison to the previous day trades. 

Furthermore, it also represents 3.78% of the total market volumes of 825.13m as against 2.12% of the total market volumes of 589.58m traded the previous day.

Graph 1: Oando’s Volume vs Market Volume

Proshare Nigeria Pvt. Ltd.
Source: Proshare Research

The volumes traded yesterday recorded a significant increase in comparison to volumes traded in the last five (5) trading days.

Graph 2: Volume Traded in the last 5 days
Proshare Nigeria Pvt. Ltd.

Source: Proshare Research

Also, a look at the volume traded in the last one month reflected that the 31.17m volume traded yesterday was the highest ever traded within the period under review.

Graph 3: Share Price vs.Volume Traded in the last One Month

Proshare Nigeria Pvt. Ltd.

Source: Proshare Research

The total volume traded represents 0.25% of Oando’s total shares outstanding put at N12.43bn shares, while the share price of Oando Plc has been at N5.99k since October 18, 2017 when it was placed on suspension by the SEC. 

Analysis revealed that the average volume traded in the last one month was 2.98m volume of shares. A comparison of this with the last traded volume reflected 945.87% growth. 

It is pertinent to state that remarks from the market revealed that the huge volumes recorded on the stock is due to speculative trading largely from retail investors.

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