NGX Index Jumps Intraday as Investors Hunt for Banking Stock
The Nigerian Exchange (NGX) All-Share Index (ASI) swings positively during the intraday trading session as investors queue for banking stocks. Value-hunting equities investors are entering positions in banking names, supported by some bargain hunting in industrial stocks.
Dangote Sugar Refinery is gaining traction, while positive price appreciation has lifted the market value of Sterling Financial Holdings Plc amidst delayed audited results and first half earnings scorecard.
First Holdco is also courting investors’ attention during the trading session, leading the Tier-1 banking top intraday gainers. At midday, the NGX All-Share Index edged up by 0.09%, Alpha Morgan Capital Limited told investors in an emailed note, indicating a modest upward movement.
Stockbrokers said this positive performance was fueled by investors buying interest in some mid to high capitalized stocks.
Selected top gainers include STERLINGNG 4.25%, NB 4.21%, DANGSUGAR 3.02%, FIRSTHOLDCO 1.00%, ACCESSCORP 0.45%, ZENITHBANK 0.41%, UBA 0.29%, among others.
