MTN, Banking Names Drive Intraday Gain in Equities Market
MTN Nigeria, and some heavy banking names drove intraday gain in the equities market on Friday. Investors interest in Dangote Cement Plc has also boosted stock market performance during the midday session along with its immediate rival Lafarge Africa.
Hence, the Nigerian Exchange (NGX) All-share index or market index has increased further on the day after breaching psychological levels in the recent time.
Investors’ sentiment has remained strong amidst earnings release and expectation of rebased consumer price index which could further boost equities market performance.
Stockbrokers said demand has been strong across key indexes as market bets on better corporates earnings, good dividends. At mid-day, the NGX All Share Index was up 0.40%, Alpha Morgan Capital Limited said in an emailed note to investors.
Stockbrokers said the uptick was driven by investors’ buying interest in some mid-to-large cap stocks.
Top early gainers include: MTNN (3.61%), JAIZBANK (1.68%), DANGCEM (1.24%), STERLINGNG (1.17%), WAPCO (0.33%), ZENITHBANK (0.10%), among others. #MTN, Banking Names Drive Intraday Gain in Equities Market CBN Opens FX Window for BDC to Stock up at NFEM Rate
