The Nigerian stocks market yesterday depreciated further by 0.26 per cent as the Monetary Policy Committee (MPC) meeting outcome remained unchanged. At the end of its two-day policy meeting, all members of the MPC in attendance voted to leave key monetary policy rates unchanged. The committee decided to retain Monetary Policy Rate (MPR) at 14.0 per cent, maintaining the asymmetric corridor around the MPR at +200/-500bpbs, hold Cash Reserves Ratio (CRR) at 22.5 per cent and keep liquidity ratio at 30 per cent. In summary, the All Share Index (ASI) shed 105.78 absolute points, representing a decline of 0.26 per cent to close at 40,749.86 points. Similarly, the market capitalisation shed N39 billion, to close at N14.720 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Mobil Nigeria, Dangote Flour, ETI, Flourmill Nigeria and Nascon and Allied Industries. Similarly, market breadth closed negative, recording 18 gainers against 26 losers. Lasaco Assurance led the gainers table by 5.88 per cent to close at 36 kobo per share, while Fidelity Bank followed with a gain of 5.76 per cent to close at N2.57 per share. Access Bank and May and Baker went up by 4.89 per cent each to close at N11.80 and N2.79 per share, respectively, while African Alliance Insurance appreciated by 4.55 per cent to close at 23 kobo per share.
On the other hand, Dangote Flour led the laggards’ table by 9.54 per cent to close at N13.75 per share, while Multiverse Mining and Exploration and Sovereign Trust Insurance trailed with a loss of 9.09 per cent each to both close at 20 kobo per share. Wapic Insurance dipped by 7.02 per cent each to close at 53 kobo, while Eterna went down by 4.91 per cent, to close at N6.01 per share. Meanwhile, total volume traded rose by 9.76 per cent to 401.41 million shares, valued at N6.77 billion, and exchanged in 5,370 deals. Transactions in the shares of FBN Holdings topped the activity chart with 70.76 million shares valued at N863.58 million. Zenith Bank traded 61.23 million shares worth N1.67 billion and Fidelity Bank transacted 28.92 million shares valued at N332.44 million. Access Bank followed with 43.7 million shares worth N109.84 million, while Guaranty Trust Bank traded 22.9 million shares valued at N992.35 million.