Zenith, UBA, GTCO Driving Intraday Rally on NGX

Zenith, UBA, GTCO Driving Intraday Rally on NGX

Big names on the banking sector equity index are currently driving an uptrend at the local bourse; the Nigerian Exchange (NGX), according to a midday report shared with clients by Alpha Morgan Capital Limited on Monday.

Due to heavy bargain hunting, Zenith Bank Plc, United Bank for Africa Plc, GTCO Plc stocks prices have appreciated while other midcap companies shares are also gaining momentum.

Stockbrokers note shows that demand for ZENITH BANK has lifted its share price by 0.75 per cent, GTCO surged 0.76 per cent, FIDELITYBK spiked by 0.99 per cent and HONYFLOUR has appreciated by 1.74 per cent.

Also, UBA share price has gained 1.75 per cent by midday, GUINNESS edged forward by 5.71 per cent, TRANSCORP share has been repriced upward by 6.84 per cent, and UCAP has peaked daily gain of 10.00 per cent.

Overall, the Nigerian Exchange All Share Index (ASI) is up by 0.15 per cent, according to a market report from Alpha Morgan Capital reviewed by MarketForces Africa. #Zenith, UBA, GTCO Driving Intraday Rally on NGX

Read: Banking, Industrial Stocks Drive Intraday Rally on NGX