OANDO, ARADEL Drive Midday Gain on Nigerian Exchange

The Nigerian Exchange (NGX) is currently trading positive due to bargain hunting on Oando Energy, Aradel Holdings and Dangote Sugar Refinery among other early gainers.

The Exchange welcome another oil shares yesterday, which then lifted equities market capitalization to about #60 Trillion on Monday.

The renewed investors sentiment on growth and value stocks has also kept the NGX uptrend ahead of Q3 earnings report.

At mid-day, the NGX All Share Index trended upward, reflecting a gain of 0.19%, Aloha Morgan Capital Limited said in a note.

Stockbrokers said the positive movement is as a result of buying sentiment of investors on some mid to high capitalized stocks.

OANDO has gained 4.94%, ARADEL is up by 4.80%, GTCO 1.80%, FIDELITYBK 1.37%, ACCESSCORP 1.28%, FCMB 0.60%, DANGSUGAR 0.16% among others.

Due to weak sentiment and activities of sell side actors, the NGX Banking Index had lost -1.09% as at mid – day. #OANDO, ARADEL Drive Midday Gain on Nigerian Exchange

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