MTNN, Fidelity Bank Drive Intraday Gain in Equities Market
Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform are currently taking positions in the local bourse ahead of Christmas celebration. Demand for telecom, oil, and banking stocks is driving the market uptrend during midday.
Stockbrokers said investors are taking positions on stocks with potential upside, like MTN Nigeria (Ticker: MTNN) and Oando that recently shed weight. At mid-day trading, the NGX All Share Index trended positive, experiencing a growth of 0.63%, Alpha Morgan Capital Limited said in a note.
Stockbrokers said the midday upward movement is a result of appreciation in some mid- to hig-capitalised stocks. During the intraday, MTNN has gained 8.99% while FIDELITYBK is up by 5.11%. Also, NB has surged by 3.23%, FBNH has moved up by 2.76%, and WEMABANK is up 2.29%.
Ticker: UCAP has seen a price uptick of 2.08%; STERLINGNG is up by 1.82% at noon. Oil stock OANDO has seen positive price movement of 1.57%. Banking names that are making uptrends include UBA (1.29%), ACCESSCORP (0.61%), STANBIC (0.43%), and others. #MTNN, Fidelity Bank Drive Intraday Gain in Equities Market CBN Opens FX Window for BDC to Stock up at NFEM Rate
