Financial Stocks Drive NGX Midday Rally
In the equities segment of the Nigerian Exchange (NGX) financial stocks are currently popping up the stock market buying temperature with strong positioning after a large daily gain reported yesterday.
Alpha Morgan Capital said in its midday stock market brief that the equity market is currently trading upward as a result of heavy positioning or buying interests in United Capital (Ticker:UCAP), AIICO Insurance (Ticker: AIICO), Guaranty Trust Holding Company (Ticker:GTCO), United Bank for Africa (Ticker:UBA), and Access Corporation (Ticker:ACCESSCORP).
The upbeat is driven by a 2.40% midday gain seeing in UCAP, with a 1.56% share price increase in AIICO. The banking index is gaining support from share appreciation of 0.83% in GTCO while UBA popping 0.62% in addition to a 0.56% gain in ACCESSCORP.
Overall, the NGX All Share Index (ASI) is up by 0.03%, Alpha Morgan said in a brief. # Financial Stocks Drive NGX Midday Rally
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