During the Wednesday intraday trading session on the Nigerian Exchange, banking names that are attracting the interest of equity investors include Access Holdings and FBN Holdings Plc.
Tuesday saw a sharp increase in the banking index as the purchasing mood in financial services companies improved. Ahead of expectations for the announcement of second-quarter earnings, stocks are reversing.
The capital market has heated up in response to some banks’ fund-raising efforts as investors look for investments with solid fundamentals.
Alpha Morgan Capital Limited stated in an email that the NGX All Share Index had a positive trajectory at midday, with a 0.12% rise.
Stockbrokers attributed that upward movement to the buying sentiments of investors in some highly capitalized banking stocks, including ACCESSCORP 2.86%, UBA 2.17%, and FBNH 1.53%, among others.
Access Holdings PLC market value has inched higher by 2.86%, followed by a 2.17% gain recorded by UBA and a 1.53% price appreciation in FBNH, among others.
Stockbrokers are expecting the market to close positively as investors continue to take positions in fundamentally sound stocks.
