GTCO, OANDO Trend in Early Trading Hour on NGX
The market segment of the Nigerian Exchange (NGX) has continued to see positive price movement on Oando Plc following the company’s impressive oil assets acquisition taste.
Yesterday, the market ended in the red because of selloffs on MTN Nigeria and price depreciation on Access Bank Plc.
Supporting the midday uptrend, investors were seen taking position in GTCO, a financial services group with relatively low insider’s or key man risk in the domestic market.
At mid-day, the NGX All Share Index trended in an upward trajectory, Alpha Morgan Capital Limited said, displaying a 0.26% gain.
Stockbrokers attributed the intraday increase to investors buying interest in some mid to high capitalized stocks, such as INTBREW 10.00%, OANDO 9.98%, NB 1.07%, GTCO 0.22%, and others.
International Breweries caps gain at 10%, which is maximum allowable on the Nigerian Exchange for listed stocks. The brewer was trailed by OANDO, whose share has surged by 9.98% while Nigerian Breweries has gained 1.07%.
Today, 22 basis points gain recorded by GTCO and other lenders have lifted the NGX banking Index upward by 0.60% at mid-day. #GTCO, OANDO Trend in Early Trading Hour on NGX
