NGX Trends Positive over Buying Interest in Zenith, UBA
The Nigerian Exchange (NGX) equities market capitalisation is current making uptrend as banking stocks started gaining steam after massive sell down in the past days.
According to Alpha Morgan Capital midday update, the NGX All Share Index (ASI) witnessed an uptick, reflecting a gain of 0.12%.
Stockbrokers attributed intraday gain to buying interest of investors in some mid to high cap stocks, including FBNH 3.96%, ACCESSCORP 2.65%, ZENITHBANK 2.26%, UBA 1.96%, and TRANSCORP 1.12%, among others.
FBN holding Plc has gained 3.96% during the intraday trading session, followed by 2.65% share price surge by Access Holdings Plc. Zenith Bank share was priced higher by 2.26% while UBA saw market valuation surge of 1.96%.
These stocks have plunged significantly after they released strong profits ahead of recapitalisation. Also supporting intraday gain registered on the local bouse, Transcorp Plc recorded a 1.26% gain to lift the equities market performance upward.
