ACCESS, GTCO, Zenith Drive Intraday Loss on NGX
The equities market is trading negative during the intraday session on the Nigerian Exchange (NGX) platform on Monday. Investors were noted to be taking profit in big banks after huge gained was reported last week.
Buying sentiment on GTCO, Zenith, Access Holdings and the United Bank for Africa waned ahead of their respective earnings release due in the week.
The latest selling pattern was a reversal of trend observed in the equities market last week. At mid-day, the NGX All share Index trended negatively reflecting a loss of -0.79%, Alpha Morgan Capital Limited said in an emailed note to investors.
Stockbrokers attributed said the downward trajectory to selling pressure in some high capitalized stocks, including BUACEMENT -9.93%, ZENITHBANK -3.22%, ACCESSCORP -1.02%, GTCO -0.76%, UBA -0.43%, among others.
BUA cement has lost 9.93% of its opening market value during early trading hour in the Nigerian equities market on Monday. Zenith, which is also in the stock market to explained facts behind it figure today, has lost 3.22% of its market valuation in the same time.
Access Holdings Plc has already lost 1.02% of its market price at midday. GTCO is down by 0.76% while negative price movement has knocked off 0.43% of UBA market valuation.
Julius Berger and NASCON has clipped 10% gain each during the midday. Oando Plc is adding additional gain today, up by 9.98% already followed by 9.95% price appreciation in Dangote Sugar Refinery plc.
May and Baker Plc is 9.63% above its opening price as demand for pharmaceutical stocks inched higher today. Japaul Gold has lost 1.26% due to selloffs. #ACCESS, GTCO, Zenith Drive Intraday Loss on NGX
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