UBA, Dangote Sugar Drive Intraday Rally on NGX

UBA, Dangote Sugar Drive Intraday Rally on NGX

Buying interest in UBA, Dangote Sugar Refinery Plc among others are currently driving the Nigerian Exchange All share index north during intraday trading session.

Stockbrokers said the gain may not be sustained as investors sentiment appears to be fluctuating on Tuesday after a positive close at the beginning of the week.

The number of trade executed showed that the market temperature could be colder, and any surprise exit trade among the Nigerian Exchange heavyweight could plunged market capitalisation lower, Broadstreet analysts told MarketForces Africa in a phone call.

At mid-day, the NGX All Share Index posted a gain of 0.07%, Alpha Morgan Capital Limited told investors in an emailed note, reflecting a bullish trend.

The investment firm said this positive performance was driven by buying interest of investors in some mid to high capitalized stocks.

Top intraday gainers in the local bourse include DANGSUGAR (3.02%), NASCON (1.35%), UBA (0.41%), WEMABANK (0.31%), STANBIC (0.06%), among others. # UBA, Dangote Sugar Drive Intraday Rally on NGX. #UBA, Dangote Sugar Drive Intraday Rally on NGX#

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