Transcorp, Oando Boost NGX Index with Intraday Rally
Transcorp and Oando stock, among other early risers, are currently driving the Nigerian Exchange’s (NGX) all-share index higher due to better investors’ sentiment.
The local bourse rebounded strongly yesterday after a downturn as companies began to release fourth quarter 2024 earnings results. The earnings festival and expectations of dividend declaration raised the level of bargain hunting while equities market capitalization inched above 64 trillion.
Stockbroker said the market value of all stocks listed in the equities market has the potential to increase today, though they noted that transactions are still ongoing, making it difficult to predict the end game.
At midday, the NGX All Share Index trended positive, registering an uptick of 0.03%, Alpha Morgan Capital Limited said in a note to investors. Stockbrokers attributed the gain to buying interest in some highly capitalized stocks, including INTBREW 3.77%, TRANSCORP 1.55%, OANDO 0.67%, and others.
International Breweries (Ticker:INTBREW) has surged by 3.77% in the local bourse, while Transcorp Plc has gained 1.55%, while Oando is on a positive trend line with a 67 basis point price surge. #Transcorp, Oando Boost NGX Index with Intraday Rally Ministry Seeks $2 billion Fibre Optics Funding
