According to an intraday report from the Nigerian Exchange, equities investors are now selling down shares in FBN Holdings, Zenith, FCMB, and UBA owing to prolonged risk-off sentiment in banking companies.
Alpha Morgan Capital Limited informed investors via email that the NGX All Share Index was down by 0.10% at midday.
According to stockbrokers, this negative movement is due to selling pressure in several mid to high size firms. FCMB’s share price fell by 3.42% during the noon trading session.
The market has discounted UBA by 2.17%, while ZENITHBANK has lost 1.16% of its initial market value. FBNH is down 1.02% on a warning of a delay in the financial report. Furthermore, the NGX Banking Index is now losing -0.76%, according to Alpha Morgan Capital.
