Banking Stocks Makes Loss For Investors On NGX

Stock Exchange Closes Trading Week With N30bn Gain

The Nigerian Exchange’s (NGX) equity market capitalization fell during the intraday trading session due to negative price movement in banking names, according to a report from Alpha Morgan Capital.

As of right now, the company has informed investors by email that the NGX All Share Index is showing signs of bearishness, with a tiny loss of 0.01%.

The decrease in value is attributed by stockbrokers to sell-side pressure that has been observed in a number of significant stocks, including OANDO, FCMB, FIDELITYBK, ZENITHBANK, ACCESSCORP, UBA, and other listed stocks.

Oando Plc has lost 1.71% during the midday trading session, followed by a 1.45% price down in FCMB shares while Fidelity Bank has now lost 1.14%. In the tier-1 bank category, Zenith has lost 0.6% of its market value while the opening price of UBA has dropped by 0.24%.

Nigeria’s largest financial institution, Accesscorp Plc, has lost 0.29% of its market value. After a positive close to the week on Friday, a number of other listed companies’ shares are trading negative, according to Alpha Morgan Capital.

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