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    Zenith, ACCESS Drive Midday Loss on Nigerian Exchange

    Julius AlagbeBy Updated:No Comments1 Min Read
    Zenith, ACCESS Drive Midday Loss on Nigerian Exchange

    Zenith, ACCESS Drive Midday Loss on Nigerian Exchange

    Sell pressures on Zenith Bank and Access Holdings Plc, among others, dragged the Nigerian Exchange (NGX) lower during the intraday trading session on Tuesday. The bear opened the market with significant sell pressure that plunged the local bourse down by more than #400 billion yesterday.

    The selloff also picked up today during early trading hours, led by ARADEL holdings and financial services stock amidst third quarter earnings release.

    At mid-day, the NGX All Share Index trended negatively, reflecting a loss of -0.52%, Alpha Morgan Capital Limited said in a note. Stockbrokers said this negative movement is due to the selling pressure of investors on some mid to high capitalized stocks.

    After its price depreciation on Monday, UBA Plc has lost an additional 4.84% today, while FIDELITYBK is down by 2.43%. ARADEL has shed -2.35% of its market value, and ZENITHBANK is down by 2.26% already. 

    Selloffs in ACCESSCORP have reduced its market value by 2.21%, while TRANSCORP has given up 2.16% of its opening market value. #Zenith, ACCESS Drive Midday Loss on Nigerian Exchange  CBN Defends Naira with $39m in Forex Market

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    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.

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