Investors are selling FBNH, MTNN Stanbic IBTC Shares
Equities investors trading highs and lows at the Nigerian Exchange are currently offloading their interest in MTN Nigeria, FBN Holdings and Stanbic IBTC during midday session.
The market has been bleeding as a result of riskoff sentiment on equities investment which some analysts think has peaked. The past week came strong with more than N2.1 trillion gain but since the beginning of the week, there has been a decline in the value of equities assets across key indexes.
At mid-day, the NGX All Share Index experienced a marginal downward movement, reflecting a 0.05% decline, according to Alpha Morgan Capital Limited.
The investment firm explained that this bearish sentiment is a result of selling pressure on some high to mid-cap stocks such as FBNH -6.31%, MTNN -2.08%, STANBIC -0.52%, FIDELITYBK -0.49%, among others.
FBNH has lost 6.31% of its market valuation today followed by a 2.08% price decline in MTN Nigeria Plc. Stanbic is down by 0.52% while Fidelity Bank Plc has lost 0.49% during the trading hour.
With the latest trend, there is a possibility that the equities market would close south has increase except for potential gains in bellwether stock. # Investors are selling FBNH, MTNN Stanbic IBTC Shares
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