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
