Transcorp, Dangote Sugar Refinery Plc, and other early risers are currently pushing the Nigerian Exchange, or NGX, all share index higher after recovering from sell heats. Following their most recent price decrease, investors have begun to reposition themselves in these top two early risers during early trading hours.
Other stocks in the banking sectors are tracking higher along, with the potential to reverse the negative performance of the exchange this week. Trading activities were relatively bearish last week, with the local exchange closing negative for four out of five trading sessions. On Monday, buying momentum has started to build across sectoral indexes.
At midday, the NGX All Share Index edged up by 0.21%, reflecting a positive trend, Alpha Morgan Capital Limited told investors in an email note. Stockbrokers said the gain was fueled by investor interest in some mid- to high-capitalized stocks.
Early risers include TRANSCORP (9.91%), DANGSUGAR (8.65%), FCMB (4.95%), UCAP (3.01%), STERLINGNG (2.54%), FIDELITYBK (2.03%), GTCO (1.68%), WEMABANK (1.35%), ACCESSCORP (0.63%), ZENITHBANK (0.42%), and others.
