Seplat Energy, Banks Stock Drive Intraday Gain on NGX
The equities market is trending positively midday due to buying interest in Seplat Energy, Tier-1 banks and Nigerian Breweries among others early risers.
The local bourse reported market capitalisation surge yesterday over renewed buying interest in stocks that had previously slumped.
The re-entry opportunity continues till midday on the Nigerian Exchange (NGX). In its market update, Alpha Morgan Capital Limited told investors that the NGX All Share Index trended positively, reflecting a gain of 0.45%.
The investment firm attributed the bullish momentum is to buying interest in some mid to high capitalized stocks, including SEPLAT 10.00%, NB 3.45%, FBNH 1.93%, UBA 1.39%, ACCESSCORP 0.53%, among others.
Top performer is Seplat Energy Plc which has already peaked at 10%, being the maximum allowable daily price movement in the local bourse. Nigerian Breweries has gained 3.45% while FBN Holdings is leading its banking peer in the gaining play.
FBNH is up by 1.93% during the intraday session, followed by 1.39% price surge in UBA while Access saw a marginal uptick of 0.53%.
This has lifted the NGX Banking Index higher 0.31% as at mid-day, according to stockbroking firm. # Seplat, Banks Drive Intraday Gain on NGX Bitcoin Dips Below $61,000 Investors Dump Crypto Assets
