Wema Bank, MTN, BUA Drive Intraday Loss on NGX
Wema Bank, MTN Nigeria, and BUA Cement are top stocks that drove the Nigerian Exchange performance downward during early trading session on Friday. The local bourse is expected to close negatively due to heavy intraday loss, marking a reversal to 26 days of rallies recorded in the local bourse.
The Nigerian Exchange all-share index and other key performance indicators headed south for the first time in 26 days as investors began to take profits. Key targets include financial services, telecom, and some industrial stocks.
At midday, the NGX All Share Index witnessed a bearish trend, Alpha Morgan Capital Limited told investors in an emailed note, reflecting a loss of -0.65%. Stockbrokers said the intraday decline was largely driven by sell-offs in some mid- to high-capitalized stocks.
Early losers include WEMABANK (-5.42%), MTNN (-4.17%), BUACEMENT (-3.66%), ZENITHBANK (-1.20%), and FCMB (-0.87%). Other decliners include VFDGROUP (-0.75%), WAPCO (-0.68%), GTCO (-0.45%), and NB (-0.13%), among others. # Wema Bank, MTN, BUA Drive Intraday Loss on NGX ACCI Applauds Tinubu’s Approval of Insurance Reform Act
