OANDO, UBA, ZENITH Drive Intraday Gain on NGX
Oando and some top banking stocks including UBA, Zenith Bank are currently driving the Nigerian Exchange (NGX) key performance indicators upward in the local bourse.
Trading data obtained from the Nigerian stock market showed bargain hunting activities on mid and heavyweight listed companies – with more trading action in banking names.
Oando Plc started recalibrating after strong year to date price decline and Stanbic IBTC just pick up momentum as the tier-2 lender caught investors’ attention.
Access Holdings is making intraday uptrend which appears to be soft, and Zenith Bank has just posted 21 basis points price uptick.
UBA is coming behind in the rally that has pushed the NGX all share index higher by 12 basis points, according to midday report from stockbrokers.
At mid-day, the NGX All Share Index posted a gain of 0.12%, Alpha Morgan Capital Limited told investors in an emailed note, reflecting an upward trend.
Stockbrokers said this uptick was driven by buying interest of investors in some mid to high capitalized stocks. Early gainers include STANBIC (5.38%), OANDO (3.13%), UCAP (2.50%), ACCESSCORP (0.47%), ZENITHBANK (0.21%), UBA (0.14%), among others. #OANDO, UBA, ZENITH Drive Intraday Gain on NGX#
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