Nigeria Investors trade 251.31m shares worth N2.9bn on NSE, as MPC keeps rates unchanged

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Sanusi-Lamido-SanusiInvestors at the Nigerian Stock Exchange (NSE) on Tuesday exchanged 251.31 million shares worth N2.9 billion in 4,719 deals.

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The News Agency of Nigeria (NAN) reports that this was in contrast to the 261.32 million shares valued at N2.9 billion exchanged in 4,616 deals on Monday

The All-Share Index, however, dipped by 32.62 points or 0.09 per cent to close at 36,056.02 from the 36,088.64 recorded on Monday.

Similarly, the market capitalisation, which opened at N11.49 trillion, depreciated by N1 billion or 0.09 per cent to close at N11.48 trillion.

Total led the price losers’ table by N15 to close at N151 per share.

Nigerian Breweries dropped N4.91 to close at N160.09 per share, while Unilever lost N1 to close at N58 per share.

Mansard fell by 16k to close at N1.95 per share, while JohnHolt dipped by 12k to close at N1.15 per share.

On the other hand, Nestle topped the gainers’ chart by N41.16 to close at N981.18 per share.

GlaxoSmithKline gained N5 to close at N69 per share, while UPL grew by 34k to close at N3.74 per share.

Stanbic IBTC appreciated by 30k to close at N19 per share, while OkomuOil share price rose by 27k to close at N45.80.

The banking sector was the toast of investors as Unity Bank traded 53.20 million shares valued at N31.36 million.

GTBank followed with 36.45 million shares worth N912.07 million.

Meanwhile, eleven members of the Monetary Policy Committee (MPC) voted for the Central Bank of Nigeria (CBN) to keep rates unchanged, while only one person voted against.

With that decision, CBN has kept benchmark rate at 12 percent; Cash Reserve Requirement on public sector deposits is still at 50 percent.

Sanusi Lamido Sanusi, governor, CBN said the apex bank is still committed to the stability of the naira, adding that the CBN needs to check the amount of dollar flows to BDCs, which activities according to the apex bank put pressure on the naira.

“The next few months will not be as difficult as the past months in terms of exchange rate. We are committed to stability of the naira exchange rate,” Sanusi said.

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Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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