FBNH, OANDO, TRANSCORP Drive Intraday Loss on NGX
The equities market is trading negative on Wednesday due to selloffs in FBN Holdings, Oando Plc, Transnational Incorporation –Transcorp – Plc among other early decliners.
The sell side activities started after the market recovered, posted more than N65 billion in gains on the Nigerian Exchange (NGX) on Tuesday after bearish trades that started at the beginning of the week.
At mid-day, the NGX All share Index trended downward, displaying a loss of -0.02%, Alpha Morgan Capital Limited said in an email note.
Stockbrokers said the downward trajectory is attributed to sell-side sentiments of investors in some mid to high capitalized stocks.
Trading data showed that OANDO plc has lost 4.97% of its market value due to sustained profit taking in oil stock.
In the banking segment, FBN Holdings and UBA Plc are trading negative. Ticker: FBNH is down by 1.46% while TRANSCORP has shed 0.93% of its market valuation. Also, UBA has dropped by 0.89% among others decliners. # FBNH, OANDO, TRANSCORP Drive Intraday Loss on NGX
