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Stock Exchange maintains bearish trend, indices down by 0 08%

This was due to sustained profit-taking in Guaranty Trust Bank and 16 others. It came as the apex bank s Monetary Policy Committee members, at the end of the two-day meeting on Tuesday, voted to hold all policy variables at current levels. Specifically, the committee decided to retain Monetary Policy Rate (MPR) at 11.5 per cent; maintain the asymmetric corridor around the MPR at +100/-700bps, retain the Cash Reserve Ratio at 27.5 per cent, and retain liquidity ratio at 30.0 per cent. At the stock market, the All-Share Index dipped 30.82 points or 0.08 per cent to close at 38,256.76 from 38.287.58 posted on Monday. Similarly, the market capitalisation dropped N16 billion or 0.08 per cent to close at N19.940 trillion against N19.956 recorded on Monday.

Sell-offs in Banking, Insurance stocks dips market further by 0 1 per cent

Sell-offs in Banking, Insurance stocks dips market further by 0.1 per cent Sell-offs in Banking, Insurance stocks dips market further by 0.1 per cent Share Bearish sentiments persist at the Nigerian Exchange Limited (NGX), on Tuesday, amid sell-offs in banking and insurance stocks. Consequently, the NGX All Share Index (ASI) ended the session 0.08 per cent lower at 38,256.76 basis points, just as the market’s worth closed at N19.94 trillion, having lost N16.07 billion. Accordingly, Month-to-date and Year-to-Date losses increased to -4.0 per cent and -5.0 per cent, respectively. Specifically, share prices of tickers such as Guaranty Trust Bank, Lasaco Insurance, FBN Holdings and AIIXo Insurance contributed to the overall negative outing at the local bourse as they declined by 1.21 per cent, 7.14 per cent, 1.38 per cent and 4.96 per cent respectively.

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