Transcorp, Geregu Drive Intraday Gain on Nigerian Bourse
Positive share price movements registered by banking and industries stock have pushed the Nigerian Exchange higher during the intraday trading sessions, Alpha Morgan Capital said in a note.
The market is climbing to the next level with sustained buying interest on corporate stocks amidst fourth quarter earnings releases festival. Results have been mixed thus far as more companies are yet to release their financial scorecard.
At present, the NGX All Share Index is trending on a positive note, indicating a gain of 0.11%, stockbrokers at Alpha Morgan Limited said in a mid-day note.
Market analysts relate the upward movement to buying interest in note-worthy stocks, including GEREGU, OANDO, TRANSCORP, FBNH, FIDELITYBK, STANBIC, and other listed stocks.
Geregu Plc has gained 8.26% during the midday trading session, OANDO Plc rallied by 7.83% and Transcorp Plc has popped higher by 7.47%.
On the banking side, FBNH registered a positive price movement, gained 3.82%, Fidelity Bank is up by 78 basis points while Stanbic IBTC gas gained 0.08% by noon. #Transcorp, Geregu Drive Intraday Gain on Nigerian Bourse#