All-Share index rebounds by 0.31% after MPC’s decision on interest rate

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The Nigerian Stock Exchange (NSE) on Thursday recorded the first growth for the month with the All-Share Index improving by 0.31 per cent, a day after the Monetary Policy Committee (MPC) meeting.

The index which opened at 40,749.86, rose by 125.83 points or 0.31 per cent to close at 40,875.69.

Also, the market capitalisation inched N25 billion to close at N14.765 trillion compared to N14.740 trillion posted on Wednesday, amid gains by some blue chips.

Market watchers said that following the outcome of the MPC and low-price attraction that investors should expect the ongoing volatility to continue, ahead of first quarter scorecards and economic data.

They said that investors would position for the short and long term on the strength of company fundamentals and the expected first quarter numbers.

They said that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment was ongoing.

Dangote Cement led the gainers’ with a growth of N4 to close at N255 per share.

Ecobank Transnational Incorporated followed with a gain of 65k to close at N17, while Eterna Oil appreciated by 28k to close at N6.29 per share.

NASCON gained 20k to close at N21.20, while United Bank for Africa (UBA) grew by 15k to close at N11.90 per share.

Conversely, GlaxosmithKline Consumer recorded the highest price loss to lead the losers’ chart, dropping by N3.35 to close at N31.50 per share.

International Breweries trailed with a loss of N2 .70 to close at N51.70, while Julius Berger was down by N1.20 to close at N24.70 per share.

READ: ERGP: Nigerian Govt on course to meet $25bn investment target – Udoma

Nigerian Breweries declined by 70k to close at N128.30, while Union Bank of Nigeria lost 30k to close at N6.65 per share.

Similarly, the volume of shares traded rose by 23.47 per cent, while the total value of shares improved by 13.44 per cent.

A total of 495.64 million shares valued at N7.68 billion exchanged in 4,614 deals against 401.41 million shares worth N6.77 billion in 5,370 deals on Wednesday.

United Bank for Africa (UBA) was the most active with an exchange of 103.50 million shares valued at N1.23 billion.

Fidelity Bank followed with an account of 90.24 million shares worth N241.04 million, while Guaranty Trust Bank (GTB) traded 62.99 million shares valued at N2.78 billion.

Access Bank exchanged 40.34 million shares worth N474.58 million, while FBN Holdings sold 31.40 million shares valued at N380.58 million.

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