Nigerian Bourse declines 0.43% further as MPC retains MPR at 14 percent

 The Nigerian equities market on Tuesday, closed negative, with the All Share Index declining 0.43 % from 40,425.07 points of the previous trading session to close at 40,249.29 points.

The Monetary Policy Committee of the Central Bank of Nigeria today decided to leave the Monetary Policy Rate unchanged at 14 percent. All other policy parameters including Cash Reserves Ratio, Liquidity Ratio and Asymmetric Window also retained their initial value. The might have impacted market reaction today.

Market capitalisation also declined by 0.43 % to close at N 14.580 trillion as against N14.643 trillion of the last trading session, shedding N63 billion

Although volume of stocks traded appreciated by 3.68% compared to last trading session, while Value of stocks traded grew by 77.68% to settle at N4.092 billion compared to 2.303 billion of the last trading session.

Market Breadth

19 stocks closed positive against 34 that lost bringing the market breadth a negative round off.

Percentage Gainers

Ikeja Hotel led other percentage gainers closing 9.68% above the previous close of N1.86 to settle at N2.04. CCNN grew 5% and Okomu Oil grew 4.97% ahead other stocks like AIICO, First Aluminum and Law Union & Rock Insurance.

Percentage Losers

Eterna Oil tops the losers’ chart losing 8.55% of its share price, while The Initiates Plc and Honeywell Flour shed 5.00% each

Volume Drivers

Ikeja Hotel traded the highest volume of stocks, recording about 34million units of its share.

Zenith Bank is the most actively traded equity for the day trading about 26million units of share in 301 deals, worth about N7


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