ACCESS, Sterling Down as Stock Market Records Intraday Loss
Access and Sterling bank Plc.’s shares are down as the stock market trades at loss, according to a midday report by stockbrokers at Alpha Morgan Capital Limited. However, the trading pattern is not necessarily a guide to market performance at the end of the trading session.
Ahead of the second quarter of the financial year 2022 earnings season releases by Nigerian companies, some stockbrokers are expecting a bullish trend in the local bourse this week. READ: Dangote Cement, Sterling, UBA Drive Intraday Gain
However, Alpha Morgan Capital note indicates that the equity market is currently trading downward due to selloffs by investors, with price declines in AIICO, Sterling Bank, Access, Fidelity and UCAP.
Trading data shows that AIICO is down by 4.55%, STERLNBANK sheds 2.60%, ACCESSCORP depreciates by 1.06%, FIDELITYBK lost 0.61%, and UCAP dips by 0.39%.
Overall, the Nigerian Exchange All Share Index (ASI) is down by 0.08%. # ACCESS, Sterling Down as Stock Market Records Intraday Loss