LAGOS –Trading on the floor of the Nigerian Stock Exchange (NSE) rebounded marginally yesterday when the two major indicators, the All Share Index and Market Capitalisation went up by 0.01 per cent each.
The All Share Index closed at 30,736.9 points following gains in Guaranty Trust Bank (+1.3%), Zenith Bank (+1.4%) and Seplat Petroleum Development Company (+1.9%). As a result, year-to-date loss improved to 2.2 per cent while market capitalisation increased by N1.6 billion to N11.5 trillion.
This is coming at members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) voted yesterday to retain the interest rate at 14 per cent; the cash reserve ratio (CRR) at 22.5 per cent and liquidity ratio at 30 per cent, with an asymmetric corridor of +200/-500 basis points.
However, activity level fell as volume and value traded declined by 51.0 per cent and 56.0 per cent to 245 million units and N2.4 billion. In terms of volume, the most active stocks for the day were Diamond Bank (71.6m units), Access Bank (27.0m units) and Guaranty Trust Bank (27.0m units) while the top traded stocks by value were Guaranty Trust Bank (N848.0m), Zenith Bank (N236.0m) and Seplat Petroleum Development Company (N193.8m).
On a sectoral basis, performance remained mixed with a bearish bias as only two of five indices under our coverage closed in the green.
The Oil & Gas index advanced the most, up 1.7 per cent, following price appreciation in Seplat Petroleum Development Company (+1.9%) and Oando (+6.8%).
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