OANDO, UBA See Intraday Gain on Nigerian Exchange
Oando and United Bank for Africa (UBA) Plc. are among stocks that are gaining investors’ attention on the Nigerian Exchange (NGX) during the intraday trading session on Tuesday.
The market has seen crunching selloffs that plunged entire market value down significantly due to rising interest rate and inflation pressures.
The banking index has faced sell threat as the government slams 70% windfall tax on FX gained reported by local lenders since January 2023.
At mid-day trading, the NGX All share Index appreciated marginally by a gain of 0.08%, Alpha Morgan Capital Limited told investors in an emailed note on Tuesday.
Stockbrokers said this upward trajectory is as a result of buying interest in major capitalized stocks, including OANDO 9.89%, UCAP 9.74%, and UBA 1.48%, among others.
During the intraday trading, Oando Plc. has gained 9.89% followed closely by 9.74% price appreciation in United Capital Plc stock.
On the banking side, UBA appears to be a lone gainers, up by 1.48%, according to trading result. Hence, the NGX Banking Index gained 0.01% as at mid-day. # OANDO, UBA See Intraday Gain on Nigerian Exchange Rivers Investment Promotion Agency Melting pot for Investors- Fubara
