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Investors react negatively to rates retention as Nigerian equity market dips 0.12%

Felix Oloyede

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Nigerian Exchange up 1.4% this week

The Nigerian equity market swang southward on Tuesday as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained all benchmark rates. 

The domestic bourse market declined by 0.12% to close at 38,802.15 points while the market capitalisation closed at N20.216 trillion, dragged down by MTNN, UBA, GTCO and others.

Investors traded a total of 243,086.071 million shares valued at N1.90 billion in 4,326 deals.

Despite the negative market performance, the exchange recorded an equal number of gainers and losers being 20.
Oando led the gainers with 0.43% gain to close at N4.79k, followed by Champion Breweries with a gain of N0.19k to close at N2.30k then FTN Cocoa Processors gained N0.04k to close at N0.49k.

On the other hand, UPDC Real Estate Investment Trust came out tops on the losers side having lost N0.40k to close at N5.60k. It was followed by Unity Bank with N0.04k to close at N0.58k then NPF Microfinance Bank lost N0.09k to close at N1.61k.

Access Bank recorded the highest volume of 21.8 million shares followed by Wema Bank with 21.3 million shares.

 

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