NGX Index Dips Intraday over Selloffs in ARADEL, GTCO
The Nigerian Exchange (NGX) index is tracking lower during intraday trading session as investors sell down interest in Aradel and GTCO stocks, among others. The bear reign supreme in the equities market at noon as sell side actors are taking early profit amidst the third quarter earnings festival.
At mid-day, the NGX All Share Index trended negatively, reflecting a loss of -0.28%, Alpha Morgan Capital Limited told investors.
Stockbrokers said the negative movement is due to selling pressure of investors on some mid to high capitalized stocks. Again, ARADEL has lost additional 9.98% of its market value as shareholders sell to provide liquidity for stocks trading.
Also, negative price movement has plunged INTBREW share price down by 6.24% while United Capital, or UCAP, has lost 1.64%. Due to negative earnings performance, investors continue to sell Nigerian Breweries shares; the Ticker: NB is down by 0.89% and GTCO has 0.10%, among others. #NGX Index Dips Intraday over Selloffs in ARADEL, GTCO Stanbic IBTC Adds Fixed Income Asset into Securities Lending Services
