ARADEL, GTCO, ACCESS Drive Equites Market Index Down
Equities investors on the Nigerian Exchange (NGX) platform are currently offloading oil, banking stocks. The selling rally on Aradel Holdings, Access Bank and GTCO has plunged their respective market value downward.
There is currently a change in mood, and banking sectors have become profit taking targets for sell side actors on the Nigerian Exchange after more than N197 billion capital appreciating posted yesterday.
Taking quick exits, at mid-day, the NGX All Share Index trended negative, displaying a loss of -0.28%, Alpha Morgan Capital Limited told investors.
Stockbrokers attributed that downward movement to selling pressure of investors on some mid to high capitalized stocks. After two days gaining streaks, ARADEL has already lost 5.85% on Wednesday.
STERLINGNG has lost 4.04% of its market value during the intraday trading session while, FIDELITYBK is down by 2.68%. Other losers include NESTLE which shed 2.25% of its opening value already.
GTCO plunged by 0.97% as its banking tech transition kept customers under pressure from conduction daily transactions. The largest but cheapest banking big head, ACCESSCORP is also down by 0.25%. Due to profit taking activities, the NGX Banking Index had lost -0.18% as at mid – day. # ARADEL, GTCO, ACCESS Drive Equites Market Index Down
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