Okomu Oil, Dangote Drive Intraday Gain in Equities Market

Okomu Oil, Dangote Drive Intraday Gain in Equities Market

Okomu Oil, Dangote Sugar Refinery Plc, and a host of other early risers are driving momentum in the equities segment of the Nigerian Exchange (NGX) on Tuesday, stockbrokers said in midday notes.

The domestic bourse is booming with happy investors taking positions amidst an ongoing boom in the local bourse, which has continued to break out of resistance. The market capitalisation and other key performance indexes are at the all-time record ahead of the second quarter earnings season.

At midday, the NGX All Share Index recorded a gain of 0.57%, Alpha Morgan Limited told investors in an emailed note, indicating a bullish market trend will persist after strong price appreciation across sectoral performance at the beginning of the week.

Stockbrokers explained the intraday positive performance was driven by renewed investor interest in some mid- to high-capitalized stocks. The top gainers chart features OKOMUOIL, which has seen the maximum allowable daily movement of 10.00%.

Other key gainers include DANGSUGAR (10.00%), NASCON (10.00%), WAPCO (9.13%), TRANSCORP (7.92%), PRESCO (5.37%), and INTBREW (4.91%).

Others are NAHCO (3.19%), FIDELITYBK (1.84%), ETI (1.64%), OANDO (1.34%), BUACEMENT (1.14%), ACCESSCORP (0.89%), UCAP (0.52%), ZENITHBANK (0.39%), and UBA (0.29%), among others. #Okomu Oil, Dangote Drive Intraday Gain in Equities Market Dangote Cement Opens N100bn Commercial Papers for Subscription