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