Intraday Rally: Buying Interest in Big Banks Boosts NGX Index

Intraday Rally: Buying Interest in Big Banks Boosts NGX Index

Buying interest in big banks and other lightweight listed companies stock boosted Nigerian Exchange (NGX) All-share index during intraday trading session in the local bourse.

The market begins to gaining momentum on Thursday after three days losing streak, and stockbrokers think key performance indicators would probably be closed in green.

Investors are making fresh entries into banking amidst expectation that earnings results will be released in Sept, reflecting positive sentiment seen in Access Holdings, Zenith Bank and UBA during early trading hours.

At midday, the NGX All Share Index witnessed a gain 0.23%, Alpha Morgan Capital Limited told investors in an emailed note, reflecting a bullish market sentiment.

Stockbrokers said the uptick was driven by investor interest in some mid to high capitalized stocks. Based on the intraday data, INTBREW has seen a 5.36% uptick.

Other gainers include ACCESSCORP 2.54%, NASCON 0.56%, UBA 0.55%, UCAP 0.53%, ZENITHBANK 0.16%, among others. # Intraday Rally: Buying Interest Big Banks Boosts NGX Index. #Intraday Rally: Buying Interest in Big Banks Boosts NGX Index#

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