BUAFOODS, DANGCEM, UBA Drive Mid-Day Rally on NGX
BUA Foods after gaining 33 per cent last week is driving momentum on the Nigerian Exchange early trading hour on Monday, supported by Dangote Cement, United Bank for Africa and Zenith Bank.
Last week BUA Foods listed 18 billion shares at N40 but closed the week at N53.20.
Though mid-day trading hours cannot totally be used to predict the outcome of daily trading performance, at least it sends an early signal about transaction patterns and market sentiment.
The equity market is currently trading on a bullish note following expansion in ZENITH BANK (0.20%), UBA (1.25%), AIICO (2.56%), UCAP (3.23%), DANGCEM (4.00%), and BUAFOODS (9.96%). Alpha Morgan Capital hinted.
Overall, the Nigerian Exchange All Share Index is higher by 1.10%. The equity market trades bullish for four trading sessions the first week of the new year.
BUAFOODS, DANGCEM, UBA Drive Mid-Day Rally on NGX. Read Also: BUA Foods Shareholders Get N63 Billion as Dividend

