Zenith Bank, Oando Drive Intraday Loss on NGX
Sell pressure on Zenith Bank and Oando Plc have plunged equities market index downward during the intraday trading session on the Nigerian Exchange (NGX). Selloffs began during the early trading hours on Tuesday as market reacts to inflation pressure.
At mid-day, the NGX All share Index trended negatively, reflecting a loss of -0.02%., Alpha Morgan Capital Limited said in emailed-note.
Stockbrokers said this negative movement is due to selling pressure in some high capitalized stocks, including OANDO -2.19% and ZENITHBANK -2.18%, among others.
Oando Plc has plummeted by 2.19%, reflecting investors’ negative perception in the performance of the energy company listed on NGX and JSE.
Zenith Bank Plc has lost 2.18% of its market value during the trading session as investors exited their positions in the financial institution. At the midday, the NGX Banking Index lost -0.35% as at mid-day, stockbrokers said. # Zenith Bank, Oando Drive Intraday Loss on NGX Southgate Resigns as England Boss After Euros Final Defeat
