Transcorp, Dangote Sugar Drive Intraday Gain on NGX
Recovering from sell heats, Transcorp and Dangote Sugar Refinery Plc, among other early risers, are currently driving the Nigerian Exchange, NGX, all share index higher.
During early trading hours, investors have started to reposition in these top two early risers after their latest price declined. Other stocks in the banking sectors are tracking higher along, with the potential to reverse the negative performance of the exchange this week.
Trading activities were relatively bearish last week, with the local exchange closing negative for four out of five trading sessions. On Monday, buying momentum has started to build across sectoral indexes.
At midday, the NGX All Share Index edged up by 0.21%, reflecting a positive trend, Alpha Morgan Capital Limited told investors in an email note. Stockbrokers said the gain was fueled by investor interest in some mid- to high-capitalized stocks.
Early risers include TRANSCORP (9.91%), DANGSUGAR (8.65%), FCMB (4.95%), UCAP (3.01%), STERLINGNG (2.54%), FIDELITYBK (2.03%), GTCO (1.68%), WEMABANK (1.35%), ACCESSCORP (0.63%), ZENITHBANK (0.42%), and others. #Transcorp, Dangote Sugar Drive Intraday Gain on NGX FBN Holdings Records Huge Off-Market Shares Transactions
