Data from Alpha Morgan Capital Limited indicates that during the lunchtime trading session, there was significant demand on the equity market for banking shares. The price of banking names surged, driving up the Nigerian Exchange all-share index.
In an afternoon report. According to Alpha Morgan, the NGX All Share Index has increased by 0.12% and is currently showing a positive outlook.
Buy-side interest in notable stocks, such NNFM, BUACEMENT, ACCESSCORP, FBNH, GLAXOSMITH, UNILEVER, ETI, TRANSCORP, UBA 0.24%, and other listed stocks, is credited by stockbrokers as the driving force behind the positive trend.
Information revealed that, with a 9.96% rise during the intraday trading session, NNFM is topping the group. Interest in BUA Cement followed, which had already raised its market price by 4.7%.
Accesscorp Plc has gained 4.12% during the bullish run followed by a 2.67% intraday price appreciation record by FBNH. Also supporting the trend, GlaxoSmithKline share price has ascended by 2.42% while Unilever saw a 1.02% share price surge.
Other banking names like ETI, and UBA also rallied, in addition to gain recorded by Transcorp Transnational Incorporation. At the press time, other stocks have also seen positive price movement.
