GTBank, Zenith, FCMB Drive Intraday Loss on NGX

The equities market is trading negative during intraday session on the Nigerian Exchange (NGX) platform as sell actors began fresh maneuvering.  

The market is on negative waves due to selloffs in banking names, joined by sell down in OANDO Energy and United Capital Limited.

Investors are dumping their shares in GTCO, Zenith, and FCMB as sentiment waned ahead of third quarter earnings release.

At mid-day, the NGX All Share Index trended negative with a marginal loss of -0.01%, Alpha Morgan Capital Limited told investors in an emailed note.

Stockbrokers at the firm said this downward trajectory is as a result of selling interest of investors in some mid to high capitalized stocks.

Data from the Nigerian Exchange confirmed that GTCO has lost 0.96% of its market value while OANDO is down by 0.87%.

Other banking names which are currently trading negative include FCMB (0.59%), UCAP (0.27%), STERLINGNG (0.20%) and, ZENITHBANK -0.13% among others. #GTBank, Zenith, FCMB Drive Intraday Loss on NGX

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