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    Financial Stocks Fuel Intraday Rally on Nigerian Exchange

    Julius AlagbeBy Updated:No Comments1 Min Read
    Financial Stocks Fuel Intraday Rally on Nigerian Exchange

    Financial Stocks Fuel Intraday Rally on Nigerian Exchange

    Financial stocks fuelled an intraday rally in the Nigerian stock market on Monday. The local bourse had posted negative last week as a result of profit-taking activities. The trend reversed during early trading hours as the market witnessed significant buying activities.

    Trading data reviewed on the Nigerian Exchange (NGX) showed that some investors re-entered positions at lower prices, and some bellwether banking names surged ahead of their respective earnings releases.

    At midday, the NGX All Share Index witnessed a gain of 0.11%, Alpha Morgan Capital Limited told investors in an emailed note, reflecting a bullish market sentiment. Stockbrokers reported that this uptick was driven by investor interest in some mid to high capitalized stocks.

    Top intraday gainers include JBERGER (9.93%), AIICO (3.83%), INTBREW (2.69%), GTCO (2.13%), and STERLINGNG (0.66%). Other risers include ACCESSCORP (0.56%), FIDELITYBK (0.48%), MANSARD (0.18%), UBA (0.10%), and TRANSCORP (0.10%), among others. # Financial Stocks Fuel Intraday Rally on NGX CBN Sells $166m to Banks, FX Forward Contracts Depreciate

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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