Investors Are Reducing Interest in Dangote Sugar, Zenith, GTCO
The Nigerian Exchange (NGX) is trading negative during the intraday trading session on Monday as investors launch fresh selloffs against Dangote Sugar Refinery, Zenith Bank Plc, Oando and GTCO, among others.
In its midday update, Alpha Morgan Capital Limited said the bears had the equities market during the trading session after negative weekly performance last week.
NGX All Share Index experienced a decrease of 0.27%, according to stockbrokers. This loss is attributed to selling pressure from investors in some mid- to high cap stocks, including DANGSUGAR -10.00%, ZENITHBANK -3.68%, OANDO -2.70%, TRANSCORP -1.79%, GTCO -1.07%, and others.
Dangote Sugar Plc has already lost 10%, which is maximum allowable movement per day. It will take a miracle to upturn this direction. Zenith Bank Plc is currently down by about 4% after the group announced a switch to holdco structure. Oando Plc is down by about 3% during the intraday session.
Transcorp Plc has lost about 2%, while GTCO Plc is trading 1.07% behind its opening price.# Investors Are Reducing Interest in Dangote Sugar, Zenith, GTCO Investment: Tinubu Woos Samsung with Conducive Environment
