ETI, FBNH, GTCO and WAPCO Drive Mid-Day Gain
The equity market is currently trading on a bullish note following increases in GTCO (0.35%), UBA (0.59%), WAPCO (1.21%), TOTAL (1.32%), ETI (1.99%), FBNH (2.45%), and MANSARD (6.49%). There is heavy buying interest going on as investors are pumping money into banking stocks in particular.
FBNH continues an upward trend into the day and would likely sustain the trend to the end of today’s trading session and keep the title of highest traded stock on the local bourse. The Nigerian Exchange stock chart shows a year-to-date return is on the ascendancy since strategic shares were mopped up by billionaire investor Femi Otedola.
In the fixed income space, trading in the treasury bills market continues its bearish style and is more likely to be so amidst quiet trading sessions due to unimpressive yields. Investors are still looking for doors to move funds into the equity market as dark clouds in the space continue to clear off.
Overall, the NGX All Share Index is higher by 0.04%. # ETI, FBNH, GTCO and WAPCO Drive Mid-Day Gain Agusto forecasts 13% NPL, says Banks exposures to vulnerable industries threaten…
