Geregu Power Share Price Fall 9.8% on Sell Pressure.

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Investors lost about N30.250 billion as a result of the selling pressure that was seen on Geregu Power Plc shares in NGX trading session.

The energy company’s stock price fell by 9.85% to N110. 70 per share from N122.80 with which it began trading session. Negative investor sentiment caused sell-offs, which led to the decline in the price of Geregu’s shares.

This occurs as the general election in 2023 approaches and the Central Bank of Nigeria recently raised interest rates.

The constant selling pressure, especially from foreign portfolio investors (FPIs), is a result of the war between Russia and Ukraine, which has increased commodity inflation and caused a rise in prices.

Nairametrics

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