Ecobank, Oando Drive Midday Gain in Nigerian Exchange

Nigerian Exchange Equities investors are currently taking positions in Ecobank, Oando and AIICO stocks, thus, shifting key metrics into green zone after negative outing yesterday.

In its market update, Alpha Morgan Capital Limited told investors via email that at mid-day, the Nigerian Exchange, NGX, All Share Index trended upward, reflecting a marginal gain of 0.02%.

Stockbrokers attribute this positive movement to buying sentiment of investors in some mid to high capitalized stocks. According to data from the Nigerian bourse, ETI has gained 8.41% following the group’s annual general meeting resolution.

OANDO, one of the off takers of AfreximBank oil-backed loans, has seen a 6.76% surge in its market price. Also, AIICO has surged by 2.04% during the intraday trading session.

On the lower end of the gainers club, NB Plc market valuation has climbed by 0.36%, among others. Overall, the NGX Banking Index has gained 0.16% at mid-day. # Ecobank, Oando Drive Midday Gains on NGX Naira Steadies as Banks Issue Update on FX Purchase
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