Transcorp Hotels Drive Intraday Gain in Equities Market
Transcorp Hotels Plc, and some banking names are driving intraday gain in the equities market on Thursday. Demand for stocks increased sharply this week amidst first quarter earnings release and dividend payments.
Some key stocks are trading at ex-dividend already following mark down by the regulator – and this contributed to the ongoing boom in the Nigerian Exchange trading platform.
Investors’ interest in Transcorp Hotels has lifted the hospitality linked stock price to inch near its maximum allowable daily movement. Stanbic IBTC is also attracting investors’ attentions with further surge seen in Oando Plc.
At mid-day, the NGX All Share Index recorded an increase of 0.14%, Alpha Morgan Capital Limited said in an emailed note, reflecting a bullish market sentiment. Stockbrokers told investors that this upward trend was driven by buying interest of investors in some mid to high capitalized stocks.
Intraday gainers include TRANSCOHOT (8.62%), STANBIC (6.47%), ACCESSCORP (2.32%), STERLINGNG (1.82%), OANDO (1.75%), FIRSTHOLDCO (0.80%), ZENITHBANK (0.31%), among others. #Transcorp Hotels Drive Intraday Gain in Equities Market
