FCMB, UCAP Drive Intraday Gain in Nigerian Equities Market
Led by demand for FCMB, United Capital (UCAP) Plc, equities market index is tracking positively during intraday trading session on the Nigerian Exchange (NGX) trading platform.
Trading details showed that the local bourse is struggling to recover from sell pressures with marginal uptick of two basis points at noon. Stockbrokers said the equities market has slim chance to close positively based on trading pattern while there are still some unexecuted trading orders.
At mid-day, the NGX All Share Index experienced a slight upward movement, posting a gain of 0.02%, Alpha Morgan Capital Limited told investors in an emailed note.
Stockbrokers at the firm stated that the intraday uptick was driven by the buying interest of investors in some mid to high capitalized stocks. Notable early gainers are banking names among others stock that has recently saw a negative price movement.
Intraday data showed that FCMB has gained (4.79%), and UCAP price has increased by 1.96%. Other gainers include DANGSUGAR (1.49%), OANDO (0.66%), FIRSTHOLDCO (0.55%), UBA (0.27%), FIDELITYBK (0.26%), ZENITHBANK (0.21%), among others. #FCMB, UCAP Drive Intraday Gain in Nigerian Equities Market
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