Buy Side Investors Drive Intraday Gain in Equities Market

Buy Side Investors Drive Intraday Gain in Equities Market

Buy side activities from stockbrokers and other traders boost equities market performance on Wednesday. Stockbrokers said Access Holdings, MTN Nigeria, and GTCO are among the top stocks driving the intraday rally in the equities segment of the Nigerian Exchange (NGX) on Wednesday.

The all-share index has inched higher as investors are taking positions in growth stocks. The bargain hunting has pushed key performance indicators higher again after hitting a historic high in the Nigerian bourse yesterday.

Stockbrokers said they expect the local bourse to close in green, having seen huge intraday gains across sectoral indexes.

At midday, the NGX All Share Index recorded a 0.25% increase, Alpha Morgan Capital Limited told investors in an emailed note. The rally was driven by bullish investor sentiment and increased buying interest in some mid- to high-capitalized stock.

Top early gainers include WEMABANK (3.38%), OKOMUOIL (3.23%), CUSTODIAN (3.00%), OANDO (2.73%), FCMB (2.58%), MTNN (1.85%), STERLINGNG (1.41%), VFDGROUP (1.32%), UCAP (0.53%), WAPCO (0.35%), ACCESSCORP (0.23%), GTCO (0.14%), among others. Tinubu Seeks Senate Approval of 2025-2026 External Borrowing Plan of $21.5bn