Following the Central Bank’s increase in the Monetary Policy Rate to 18% at the conclusion of last week’s trading activity on the Nigerian Stock Exchange, the market capitalization fell by N13 billion.
According to information obtained, the All-Share Index ended last week at 54,892.53, down 0.04 percent from the 54,915.39 it started at.
According to a study of last week’s trading, all other indices concluded lower, with the exception of NGX Consumer Goods and NXG Growth, which rose by 1.11 percent and 2.90 percent, respectively. The NGX ASeM, NGX Oil and Gas, and NGX Sovereign Bond indices all ended the week at a level.
The NGX ASI increased little on Wednesday, the day after the new MPR rate was published, but it declined until Friday’s close of business.
The Central Bank of Nigeria’s Monetary Policy Committee increased the MPR from 17.5 percent to 18 percent last month.
The Centre for the Promotion of Private Enterprise’s (CPPE) director, Muda Yusuf, previously said that the increase in interest rates will have an impact on investors in Nigeria.
Stock analysts, however, are certain that the market will recover now that the elections are finished.