UBA, Zenith Bank Drive Intraday Rally in Equities Market
UBA, Zenith Bank, Access Holdings Plc and some other heavyweight across sectoral indexes are currently driving momentum in the equities market.
Stockbrokers said the intraday rally on the Nigerian Exchange All share index appears so strong, suggesting the local bourse will break into new high at the end of the closing session.
Intraday trading records revealed significant interest in banking names, with gains in Tier-1 banking names pushing the index higher on Thursday.
At mid-day, the NGX All-Share Index advanced by 0.77%, Alpha Morgan Capital limited told investors in an emailed note, indicating a positive market trend.
Stockbrokers said the upward movement was driven by increased investor demand for some mid to high capitalized stocks.
Top gainers include UBA 8.33%, NB 8.27%, OKOMUOIL 4.38%, ZENITHBANK 4.24%, PZ 3.97%, GTCO 2.84%, ACCESSCORP 2.47%, STERLINGNG 1.80%, TRANSCORP 1.34%, JAIZBANK 1.28%, FCMB 1.09%, NAHCO 1.03%, among others.#UBA, Zenith Bank Drive Intraday Rally in Equities Market#
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