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    Tuesday, July 21

    NGX Index Ticks Up as GTCO, OANDO See Intraday Rally

    Julius AlagbeBy Updated: News No Comments1 Min Read
    NGX Index Ticks Up as GTCO, OANDO See Intraday Rally

    NGX Index Ticks Up as GTCO, OANDO See Intraday Rally

    GTCO, OANDO, and Guinness Plc have pushed the Nigerian Exchange (NGX) all-share index higher during the intraday trading session in the local bourse.

    According to stockbrokers, the market has been heated up with renewed demand for most capitalised banking stock—GTCO—ahead of earnings release for the fourth quarter.

    Buying interest was also seen in oil stocks; Oando Energy climbed, though CONOIL gaining streaks have slowed down.

    At midday, the NGX All Share Index witnessed a positive trajectory, reflecting a gain of 0.11%, Alpha Morgan Capital Limited told investors in an email.

    Stockbrokers said the upward movement is a result of the buying sentiment of investors in some mid- to high-capitalised stocks. These early gainers include OANDO, which is up by 4.38%, followed by GUINNESS, which has gained 3.08%. 

    United Capital Plc or Ticker: UCAP has appreciated by 0.81% while GTCO is up by 0.76%, among others. #NGX Index Ticks Up as GTCO, OANDO See Intraday Rally Keyamo Performs Ground-Breaking for Abia Airport Project

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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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