NGX Index Dips Intraday as Investors Book Profit in ARADEL, NB
The Nigerian Exchange (NGX) All-Share index (ASI) has declined during intraday trading session due to early profit-taking activities. Sell-side actors resume action on oil and banking stocks, while there is also moderate sell pressure on the consumer goods index.
The equities market recorded eight gaining streaks that pushed investors combined wealth upward by about N2 trillion. At midday, the NGX All Share Index trended negatively, reflecting a loss of -0.37%, Alpha Morgan Capital Limited told investors in an emailed note today.
Stockbrokers attributed that bearish trend to the selling pressure of investors on some mid- to high-capitalised stocks. During early trading hours, ARADEL has lost 9.09% of its market capitalisation as investors exited positions.
Nigerian Breweries is down by 3.33%, while Lafarge Africa Ticker: WAPCO has lost 3.26%. Weak investors’ sentiment has cost FBNH 1.12% of its market value, while TRANSCORP is down by 0.93%.
Tier-2 banking stock STERLINGNG has lost 0.20% during the intraday trading session among other decliners in the local bourse. #NGX Index Dips Intraday as Investors Book Profit in ARADEL, NB Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%
