March 13, 2025
Banking stocks on Thursday, drove intraday momentum in the equities segment of the Nigerian Exchange, Investors began fresh bargain hunting in the stock market after a midweek negative display.
Equity investors were caught between placing their bets on fixed interest securities and risky stocks amidst corporate earnings releases.
The financial markets performance on Wednesday, showed a weak appetite for equities as investors’ parked huge money into Treasury bills offered by the Central Bank at the midweek auction.
READ MORE; Stock Market Investors Lose N284bn As MTNN, Banks Stocks Fall
At mid-day the All Share Index increased by 0.07%, reflecting a positive trend, according to Alpha Morgan Capital Limited said in an emailed note. however, stockbrokers said the intraday gain was fuelled by investors interest in some mid- to high-capitalised stocks.
Early gains on NGX include STERLINGNG, 3.77%, NB, 3.23%, JAIZBANK, 2.56%, FIDELITYBK, 1.46%, FIRSTHOLDCO, 0.52%, FCMB, 0.52%, ZENITHBANK, 0.42%, and others.
