Equities Market Trades Flattish after Big Loss
The equities segment of the Nigerian Exchange (NGX) is currently trading on a flattish note after more than a N614 billion loss was reported on Tuesday. Though, there is hope downward trend could be reversed before the market close but investors’ interest appears weak.
The selloffs have impacted market sentiment despite earnings releases by companies, signalling moves to rebalance portfolios while uncertainties in the economy keep taking a toll on investing environment.
In its midday report sent to investors, Alpha Morgan Capital said the equity market is muted. However, expansions were seen in stocks such as Etranzact, Union Bank of Nigeria and Zenith Bank.
The email shows that ETRANZACT has gained 9.69%, UBN rose 0.86% and ZENITH BANK share is up 0.71%.
Meanwhile, stockbrokers said selling pressures were witnessed in TRANSCORP with a 2.68% share price decline, UBA lost 0.69% and ACCESSCORP is down 0.56%. #Equities Market Trades Flattish after Big Loss