Stock Market Declines By N25bn On MPC Stalemate

The domestic stock market yesterday succumbed to selling pressure with a decline of N25 billion, as the Monetary Policy Committee (MPC) retained benchmark rates.

At the end of the 299th MPC meeting held on February 19 and 20, 2025, the committee voted to hold the MPR at 27.5 per cent; retain the asymmetric corridor at +500/-100 around the MPR; retain the CRR of Deposit Money banks at 50 per cent; retain the CRR of Merchant Banks at 16 per cent; and hold the liquidity ratio constant at 30.00 per cent.

The All-Share Index (ASI) fell by 41.01 points, representing a decline of 0.04 per cent to close at 108,568.50 points. Accordingly, investors lost N25 billion in value as market capitalisation declined to N67.659 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Aradel Holdings, Africa Prudential, Nigerian Breweries, Oando and Ikeja Hotel.

Investor sentiment, as measured by market breadth, closed negative as 32 stocks advanced, while 24 declined. Abbey Mortgage Bank emerged the highest price gainer of 10 per cent to close at N3.41, per share.

University Press followed with a gain of 9.78 per cent to close at N5.05, while Sovereign Trust Insurance advanced by 9.57 per cent to close at N1.26, per share.

Regency Alliance Insurance increased by 7.58 per cent to close at 71 kobo, while The Initiates Plc added 7.23 per cent to close at N4.30, per share.

On the other side, Union Dicon Salt led others on the losers’ chart with 9.77 per cent to close at N6.00, per share. Deap Capital Management and Trust followed with 7.07 per cent to close at 92 kobo, while CWG lost 5.75 per cent to close at N8.20, per share.

Ikeja Hotels depreciated by 5.56 per cent to close at N11.90, while Tantalizers declined by 4.88 per cent to close at N1.95, per share.

The total volume of trades increased by 22.56 per cent to 421.256 million units, valued at N8.425 billion, and exchanged in 13,269 deals. Transactions in the shares of Ellah Lakes led the activity with 136.677 million shares worth N440.157 million.

Zenith Bank followed with 22.979 million shares valued at N1.150 billion, while Guaranty Trust Holding Company (GTCO) traded 20.832 million shares valued at N1.307 million.

Jaiz Bank traded 17.396 million shares worth N58.592 million, while United Bank for Africa (UBA) traded 16.278 million shares worth N617.003 million.