MPR’s reduction lifts NSE’s indices by N50b

THE Central Bank of Nigeria’s decision to end its monetary tightening and reduction in its monetary policy rate (MPR), yesterday, spurred activities in the capital market after several weeks of a downturn, as market capitalisation appreciated by N50 billion.

At the close of trading yesterday, market capitalisation of listed equities appreciated by N50 billion, from N9,488 trillion recorded on Tuesday to N9,538 trillion, while the All-share index rose by 147.01 points from 27,596.81 to 27,743.92.

Yesterday, major bluechip companies appreciated in price, as Caverton emerged the day’s highest price gainer with 9.28 per cent to close at N2.59 per share while Diamond Bank followed with 5.08 per cent to close at N2.48 per share.

Ikeja Hotel gained 4.95 per cent to close at N3.39 per share. Guaranty Trust Bank added 4.71 per cent to close at N21.99 per share.
Livestock, TransNational Corporated, Nem garnered 3.45, 1.72 and 1.54 per cent to close at N1.50, N1.77 and N0.66 per share.

Dangote Cement added 1.26 per cent to close at N159.99 per share. Access Bank added 0.87 per cent to closer at N4.64 per share.
Nigerian Breweries gained 0.85 per cent to close at N116.70 per share.

However, 20 stocks constituted the losers chart, as Eternaoil topped the losers chart with 8.52v per cent to close at N1.61 per share while Unity bank followed with 5.26 per cent to close at N1.08 per share. Mobil shed 4.99 per cent to close at N132.05 per share.

Julius Berger dropped 4.99 percent to close at N37.53 per share.

Honeywell flourmills, Vono, Law union& Rock lost 4.78, 4.44 and 3.57 per cent to close at N1.99,N0.86 and N0.54 per share.

International Breweries dropped 3.03 per cent to close at N16.00 per share. EcobankTransNational Incorporated shed 3.03 per cent to close at N16.00 per share.

Learn Africa also lost 2.99 per cent to close at N0.65 per share.

On the activity chart, the banking sector maintained its dominance in volume terms with 120 billion shares worth N801 billion. The sector was buoyed by activities in the shares of Diamond Bank with 69 million shares worth N164 million followed by GuarantyTrust Bank with 25 million units worth N53million.

On the whole, investors exchanged 203 million shares worth N2.7 billion in 2,408 deals.