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    MarketForces Africa » MarketForces News » NGX Index Slides over Midday Selloffs

    NGX Index Slides over Midday Selloffs

    Olu AnisereBy Olu AnisereMay 25, 2023 News No Comments1 Min Read
    NGX Index Slides over Midday Selloffs
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    NGX Index Slides over Midday Selloffs

    The Nigerian Exchange (NGX) index slides over midday selloffs in the local bourse, Alpha Morgan Capital Limited said in its midday equities market report.

    According to stockbrokers, the Nigerian Exchange All Share Index has exhibited a decline of -0.10 percent. The decline seems to be driven by sell-side pressure across several prominent stocks.

    After four days of a bullish run, financial stocks are trading negatively, according to an intraday market report, following interest rate hikes.

    The investment firm noted that the equities market witnessed selloffs in ACCESSCORP (-3.14%) UBA (-1.15%) GTCO (-1.10%), INTBREW (-1.00%), FCMB (-0.95%), OANDO (-0.71%), DANSUGAR (0.53%) and others. # NGX Index Slides over Midday Selloffs

    Naira Steadies as Banks Issue Update on FX Purchase

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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