UBA, FBNH Drive Banking Index Higher on NGX
UBA, FBN Holdings Plc are among the banking names that were driving momentum on the Nigerian Exchange (NGX), along with Oando and Transcorp Plc. Trading records showed oil and banks stock boosted investors’ appetites in the equities market.
Trading results showed that demand for stock increased due to improved sentiment in the local bourse. The equities market closed strongly yesterday with investors wealth up by more than N117 billion. At midday, the NGX All Share Index trended positive, reflecting a 0.13% gain, Alpha Morgan Capital Limited.
Stockbrokers attributed the upward trajectory to the buying pressure of investors in some mid- to high capitalized stocks, such as TOTAL 8.82%, OANDO 6.08%, UBA 4.11%, FBNH 2.95%, TRANSCORP 0.91%, and others.
TotalEnergies has clicked 8.82% of maximum allowable daily gain during the early hour. Oando Plc has capped 6.08% gain while UBA is up by 4.11%.
FBN Holdings has seen 2.95% price appreciation in the equities market. Transcorp Plc has jumped by 91 basis points while there are other early risers in the market during early hour on the Nigerian Exchange.
The NGX banking Index had gained 0.3% as at mid-day as key banking names surge. # FBNH, UBA, OANDO See Midday Gain on NGX. #UBA, FBNH Drive Banking Index Higher on NGX Crypto Market Cap Falls to $2T over BTC, ETH Price Decline
