The Nigerian Exchange Limited, NGX closed last week lower as the stock market reacted negatively to the latest interest rate increase by the Central Bank of Nigeria, CBN. Last week, the Monetary Policy Committee, MPC of the apex bank raised the benchmark interest rate, the Monetary Policy Rate, MPR, by 25 basis points to 27.5 […]
•Stock market Investors lost N847 billion in the stock market last week due to the negative impact of profit-taking and selloffs on the Nigerian Exchange Limited. Consequently, the NGX market capitalisation, which represents the total value of investment on the Exchange, dropped to N55.131 trillion from N55.978 trillion the previous week, repo...
The NGX All-Share Index experienced a significant decline in April, losing N3.57 trillion in market value. This downturn represents the first monthly decline for the NGX this year, contrasting with gains of 17.7%, 12.47%, and 5.64% recorded in January, February, and March respectively. Despite this setback, the NGX is still up by 31.36% year-t...
Investors have continued to backpedal on the stock market, especially in the banking sector, on the back of the proposed recapitalization of the banks announced late last month by the Central Bank of Nigeria, CBN. The risk-off sentiment resulted in the loss of N633 billion as investors took profits from the banks, reports Vanguard. Consequentl...
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