Daily Market Update | 22-05-2024
Daily Market Update (Equities) Today, the Nigerian equities market closed negative as the NGX All Share Index (NGX ASI) declined by 0.16% to 98,129.16 points, pushing the market’s year-to-date (YtD) returns down to 31.23% (vs. Yesterday: 31.27% YtD). The negative sentiment in the market was driven by losses in ZENITHBANK (-4.62%), GTCO (-3.55%), UBA (-2.16%) […]
Post MPC Meeting Report May 2024- MPC Maintains Tightening
The Central Bank of Nigeria (CBN) maintained its hawkish stance at its 295th Monetary Policy Committee (MPC) meeting on May 20th-21st, 2024. The Monetary Policy Rate (MPR) was tightened further by 150bps to 26.25%. This decision is a strong signal of the apex bank’s commitment to curbing inflation and addressing FX pressures through contractionary monetary […]
