DANGCEM, NB, PRESCO Drive Intraday Gain on NGX
Demand for Dangote cement stock, Nigerian Breweries, and crude palm oil producer Presco are among other stocks that are currently driving midday rally on the Nigerian Exchange, according to detail shared by Alpha Morgan Capital.
Last week, the stock market return his the rooftop at 16.2% year to date as the exchange rallied for 15 days out of 19 trading sessions in the month of April.
Today, trading signal shows that momentum is building amidst healthy earnings releases by Nigerian listed companies. Funds appear to be moving into the equity space following a lacklustre performance in the fixed income space.
Stock traders at Alpha Morgan Capital told clients via email that the equity market is currently trading on a bullish note.
It noted that there is buying interest in UCAP which lifted share price up 0.37%, WAPIC gains 2.27%, and DANGCEM has been priced upward by 2.36%. READ: Banking, Industrial Stocks Drive Intraday Rally on NGX
Also in the rank, STANBIC share price is rerated upward by 2.67%, VITAFOAM spikes 3.09%, NB jumps by 3.50%, CHAMPION share price appreciated already by 5.16%, and PRESCO rallies by 9.97%.
Overall, the Nigerian Exchange All Share Index (ASI) is higher by 0.54%, according to trader note. # DANGCEM, NB, PRESCO Drive Intraday Gain on NGX
