Returns on equity investments on the Nigerian Stock Exchange, NSE, nosedived further in the outgone week by 1.81 per cent, as investors and other financial stakeholders wait for the nation’s fiscal policies.
The Central Bank of Nigeria in the outgone week reduced the Monetary Policy Rate to 11 per cent from 13 per cent while the Cash Reserve Ratio was pegged at 20 per cent from 25 per cent.
Monetary Policy Ratio is the basic lending rate while Cash Reserve Ratio is a monetary policy tool used to set the minimum deposits commercial banks must hold as reserves, compared with volume lent out at any given period.
At the close of the week’s transactions ended November 27, 2015, the NSE All-Share index dipped by 1.83 per cent to close at N27,617.45 points while Market Capitalisation or value of listed equities also fell by 1.81 per cent to close at N9.50 trillion.
StanbicIBTC led the price losers table with N1.23 to close at N17.20 per share. Zenith International Bank’s share price depreciated by N1.10 to close at N15.40 while Oando lost N50k to close at 5.70 per share. Tiger Branded Consumer Goods lost 33k to close at N17.65 while Honeywell Flour share price fell […]