Oando, Conoil Drive Intraday Gain in Equites Market
The equities market trading activities trending positively during intraday session on Nigerian Exchange (NGX) platform. With the strong buying side, there is hope the local bourse would reverse downward trend.
According to trading data, oil and banking stocks are on the rise during midday session. The buying momentum was spurred by renewed interest in Oando, Conoil and mixed of tier-1 and tier-2 banks.
At mid-day, the NGX All Share Index witnessed a positive trajectory, reflecting an uptick of 0.25%, Alpha Morgan said in a note. Stockbrokers explained that the bullish trend is attributed to buying interest of investors in some mid to high capitalized stocks.
Trading data showed that OANDO has gained 7.50% in the latest rally. Also, after price depreciation yesterday, CONOIL has seen 6.52% midday.
WEMABANK price has surged by 5.88%, while STERLINGNG is up by 2.67% during the midday trading session. Ticker: UBA has seen 1.67% uptick following rights issue announcement while GTCO is up 0.92%.
Others gainers include ZENITHBANK (0.58%), ACCESSCORP (0.40%), among others. # Oando, Conoil Drive Intraday Gain in Equites Market #Naira Rises against US Dollar Ahead of Sept. FX Auction
