Banks Stocks Face Selloffs Intraday on NGX after Gains
The equities market is trading negative during intra day trading session on the Nigerian Exchange (NGX).
The sell pressure on GTCO, Zenith, UBA and also OANDO plunge the stock market Index downward.
The market switched negative after huge gain reported on Tuesday when investors increased buying interest in Tier-1 banks shares.
At mid-day, the NGX All Share Index witnessed a negative trajectory, reflecting a loss of -0.13%, Aloha Morgan Capital Limited told investors in a note.
Stockbrokers said this downward movement is due to the selling pressure of investors on some high capitalized stocks.
OANDO share price has lost-9.98% at noon as investors continue to sell down interest in the energy company’s shares.
Reversing previous day gain, UBA market value has dropped by 5.28% while Zenith bank has also -0.47%.
Trading data revealer that GTCO valuation has dropped by -0.27%, among others early decliners in the stock market.#Banks Stocks Face Selloffs Intraday on NGX after Gains#
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