Equity Market Rebounds Marginally as MPC Hold Rate

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On Tuesday, the Nigerian equity market rebounds marginally by 0.02 percent as the Monetary Policy Committee (MPC) holds the Monetary Policy Rate (MPR) at 11.5% and other parameters constant, respectively. The recovery follows the investors positive sentiment in 20 medium and large capitalized stocks.

As a result, the market index (All-Share Index) rekindled by 11.24 basis points, representing an increase of 0.02 percent to close at 45,939.51. While the Market Capitalization gained ₦6.06Bn, representing a surge of 0.02 percent to close at ₦24.76 trillion.

→ Meanwhile, the market activities remain mixed as the Total Volume traded plunged by 11.10% while the Total Value rose by 23.90 percent. 247.69 million units valued at ₦3.58 billion were transacted in 4,242 Deals.

GTCO led the most traded stock in terms of volume, accounting for 9.90 percent of the total volume of trades, followed closely by COUTVILLE (8.65%), TRANSCORP (8.25%), ZENITHBANK (6.99%) and CHAMS (6.68%) to complete the top five on the volume chart. While, SEPLAT emerged as the most traded stock in value terms, with 26.93 percent of the total value of trades on the exchange.

→ COURTVILLE appeared the best gainer, leading the advancers’ chart with maximum price appreciation of 10.00 percent, trailed by ETI (9.94%), JAPAULGOLD (5.13%), SEPLAT (1.28%), UBN (0.85%), UBA (0.62%), NGXGROUP (0.49%), LIVESTOCK (0.47%) and twelve (12) others.

Conversely, fifteen (15) stocks depreciated in price, led by CILEASING with price depreciation of 10.00 percent to close at ₦3.78 as MBENEFIT (-3.70%), UCAP (-1.38%), NEIMETH (-1.04%), ACCESS (-1.03%), TRANSCORP (-0.93%), FBNH (-0.85%), ZENITHBANK (-0,78%), GTCO (-0.58%) and WAPCO (-0.39%) also dipped in price. As a result, the market breadth closed positive, recording 20 gainers and 15 losers.

→ Conclusively, the market sector performance was relatively positive, led by Oil & Gas (0.69%), Banking (0.52%) and Consumer Goods (0.08%), while the Insurance and Industrial Goods sectors tanked by 0.88% and 0.03%, respectively.