MTN, Jaiz Bank Drive Intraday Loss in Equities Market
The Nigerian Exchange (NGX) All-Share Index is tracking lower during the intraday trading session as equities investors sell down interest in telecommunication company MTN Nigeria Plc, Jaiz Bank, and others.
International Breweries is experiencing sell pressures, according to stockbrokers, reversing its non-stop rally that started last week. The local bourse is, however, poised to reverse the trend in the absence of significant profit-taking activities that could drag the local bourse downward.
At midday, the NGX All Share Index posted a slight loss of -0.02%, Alpha Morgan Capital Limited told investors in an emailed note, reflecting a bearish trend.
Stockbrokers said the equities market’s downward movement was driven by sell-offs in some mid- to high-capitalized stocks. Top intraday losers include MTNN (-2.15%), INTBREW (-1.77%), and JAIZBANK (-0.30%), among others. MTN, Jaiz Bank Drive Intraday Loss in Equities Market
