NGX Index Spikes on Intraday Rally
The Nigerian Exchange’s (NGX) all-share index is trending positively during intraday trading session, driven by investors’ sentiment. Post-inflation data trading activities have rebounded, with major market movers rebounding from weak sentiment-driven selloffs.
Interest in banking names, consumer goods, insurance, and oil and gas nudged key performance indicators higher, year-to-date return advanced. At midday, the NGX All Share Index experienced a positive trend, reflecting a gain of 0.22%, Alpha Morgan Capital Limited said in a note.
Stockbrokers stated that this upward movement is a result of the buying sentiment of investors in some mid- to high-capitalized stocks. Lafarge WAPCO has gained 9.98% during the trading hour, while DANGSUGAR has ticked up by 7.33%.
FIDELITYBK has seen 3.62% price appreciation, FLOURMILL is up by 1.92%, and ZENITHBANK has climbed by 1.59%.
Ticker: UCAP has seen 0.59% price movement, FBNH advanced by 0.56%, STERLINGNG is priced higher by 0.20%, MTNN jumps by 0.17%, and UBA has gained 0.15%. #NGX Index Spikes on Intraday Rally Naira Plummets to N1690/$ after CBN Priced Spot Rate High
