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By Chinyere Joel-Nwokeoma
Lagos, June 29, 2021 Trading on the Nigerian stock market closed on a positive mood on Tuesday with a growth of N29 billion due to renewed confidence.
Speficially, the market capitalisation inched higher by N29 billion or 0.15 per cent to close at N19.621 trillion against N19.592 trillion achieved on Monday.
Also, the All-Share Index increased by 55.50 points or 0.15 per cent to close at 37,640.75 points from 37,585.25 recorded on Monday.
Accordingly, month-to-date and year-to-date losses moderated to 2.1 per cent and 6.5 per cent, respectively.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Okomu Oil Palm, Cadbury, Dangote Sugar Refinery, Vitafoam and FCMB Group.
Nigerian stock market indices rebound by 0 15% pulse.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pulse.ng Daily Mail and Mail on Sunday newspapers.
This was due to sustained profit-taking in Guaranty Trust Bank and 16 others.
It came as the apex bankâs 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.
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.