NGX Rallies Intraday as Investors Take Positions in Access, FBNH
Access Holdings and FBN Holdings Plc are among banking names gaining equities investors’ attention on the Nigerian Exchange during the intraday trading session on Wednesday.
The banking index popped higher on Tuesday following an improvement buying sentiment in financial services stocks. Stocks rerating is coming ahead of second quarter earnings release expectations.
Some of the banks fund raising has heating up the capital market as investors seek fundamentally strong investment options.
In an email note, Alpha Morgan Capital Limited hinted that at mid-day, the NGX All share Index witnessed a positive trajectory, reflecting a gain of 0.12%.
Stockbrokers attributed that upward movement to buying sentiments of investors in some high capitalized banking stocks, including ACCESSCORP 2.86%, UBA 2.17%, and FBNH 1.53%, among others.
Access Holdings PLC market value has inched higher by 2.86%, followed by 2.17% gain recorded by UBA and 1.53% price appreciation in FBNH among others.
Stockbrokers are expecting market to close positively as investors continue to take positions in fundamentally sound stocks. # ACCESSCORP, FBNH See Intraday Rally on NGX IMF Cuts Nigeria’s GDP Growth Expectation to 3.1%
