Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    August 4, 2026

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    August 4, 2026

    NEC Approves Refinancing of $3.3bn Project Gazelle

    August 4, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Oil Prices Rise over US-Iran Peace Talks Uncertainty
    • XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK
    • NEC Approves Refinancing of $3.3bn Project Gazelle
    • South African Rand Weakens as U.S. Dollar Index Rebounds
    • Wall Street, European Markets Rally on Global Inflation Relief Bets
    • Bitcoin Trades Sideways as Strategy Inc. Reduces BTC Holding
    • Ethereum Hovers at $1.85k as BitMine Hikes ETH Holdings to 4.8%
    • Banking System Surplus Liquidity Rises 70%, Interbank Rates Mixed
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Tuesday, August 4
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » Markets » Selloffs in Banks Shares, IntBrew Trigger Mid-day Loss on NGX

    Selloffs in Banks Shares, IntBrew Trigger Mid-day Loss on NGX

    Julius AlagbeBy Julius AlagbeJuly 21, 2022 Markets No Comments1 Min Read
    Selloffs in Banks Shares, IntBrew Trigger Mid-day Loss on NGX
    NGX
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Selloffs in Banks Shares, IntBrew Trigger Mid-day Loss on NGX

    Equities investors in the Nigerian Exchange (NGX) continue previous day selling rallies as banking stocks and International Breweries share price depreciation among others are driving intraday loss in the local bourse.

    The Nigerian stock market shed N66 billion yesterday as bears held sway. In a mid-day note by Alpha Morgan Capital, stockbrokers told clients via an email that the market is currently tracking downward. The selloffs pattern has persisted following interest rate adjustment that saw spot rates jerking up.

    The rising inflation rate remains a downside to investing in naira assets, according to investment banking analysts note for the first half but sentiments have been upbeat in the domestic bourse in 2022 – largely.

    In the midday report, Alpha Capital Morgan said the equities market is trading downward, following price declines in Transcorp Plc, International Breweries shares, Sterling Bank, and Oando among others.

    TRANSCORP shares have been priced down by 3.28%, INTBREW has lost 2.75%, STERLNBANK dipped 2.60%, FCMB dropped off 1.63%, and OANDO 0.39%. Overall, the NGX All Share Index (ASI) is slightly down by 0.01%. #Selloffs in Banks Shares, IntBrew Trigger Mid-day Loss on NGX

    Banking stock
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Julius Alagbe
    • Website
    • LinkedIn

    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

    Keep Reading

    US Equities Sold Off, European Markets Diverge as Sentiment Shifts

    Yields Ease as Investors Rotate Capital into Treasury Bills

    DMO Raises N932bn in FGN Bonds on Tight Pricing Discipline

    Nigeria’s Frontier Market Story: Reassuring Global Investors Beyond Index Inclusion

    Nigerian Bonds Sell Off as Markets Await Q3 Borrowing Plan

    Yield on FGN Bonds Climbs 77bps as Investors Trim Holdings

    Add A Comment

    Comments are closed.

    Editors Picks

    Oil Prices Rise over US-Iran Peace Talks Uncertainty

    August 4, 2026

    XRP Tops Up as MasterCard Acquires Ripple’s Partner BVNK

    August 4, 2026

    NEC Approves Refinancing of $3.3bn Project Gazelle

    August 4, 2026

    South African Rand Weakens as U.S. Dollar Index Rebounds

    August 4, 2026

    Wall Street, European Markets Rally on Global Inflation Relief Bets

    August 4, 2026
    Latest Posts

    US Equities Sold Off, European Markets Diverge as Sentiment Shifts

    July 30, 2026

    Yields Ease as Investors Rotate Capital into Treasury Bills

    July 23, 2026

    DMO Raises N932bn in FGN Bonds on Tight Pricing Discipline

    July 20, 2026

    Nigeria’s Frontier Market Story: Reassuring Global Investors Beyond Index Inclusion

    July 13, 2026

    Nigerian Bonds Sell Off as Markets Await Q3 Borrowing Plan

    July 5, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.