Fidelity Bank, FBNH Drive Intraday Gain on NGX
The equities market is trading positive midday due to renewed demand in Fidelity Bank, FBN Holdings after yesterday sell down. The bullish momentum in banks and Transcorp reflated key performance indicators, according to Midday report from stockbrokers.
In its update, Alpha Morgan Capital Limited told investors that at mid-day, the Nigerian Exchange (NGX) All Share Index trended positively, reflecting a gain of 0.09%.
This upward movement is attributed to buying interest in some mid to high capitalized stocks, including FIDELITYBK 3.85%, FBNH 2.28%, TRANSCORP 1.67%, UBA 1.35%, and others.
Details from the Nigerian bourse showed that Fidelity bank has appreciated by 3.85% and FBN Holdings has also gained 2.28% during the trading session. Transcorp has seen 1.67% price appreciation while bargain hunting in UBA shares has lifted the Pan African lender market valuation higher by 1.35%.
Despite this, the NGX Banking Index had lost -0.07% as at mid-day amidst hope that the local bourse would sustained buying momentum for the day. # Fidelity, FBNH Drive Intraday Gain on NGX Prioritise Production to Stimulate Economic Growth – Economist
