The market reacted negatively to the MPR hike as sell-offs were recorded across board but price appreciation in BUA Cement lifted market performance marginally.
The weak performance was driven by sell-off in shares of GTCO, UBA, Access Holding and FBN Holdings.
Market capitalisation increased by N3 billion or 0.01 per cent to close at N26.670 trillion.
The major drivers of the weak performance were Zenith Bank, First Bank of Nigeria Holding, Access Bank Holding and Stanbic Bank.
The All Share Index (ASI) also decreased by 35.45 points or 0.07 per cent.
The market breadth ended with 15 stocks in the gainers’ and losers’ charts respectively.
The All Share Index rose by 53.29 points or 0.11 per cent to close at 49,889.80 from 49, 836.51 achieved on Wednesday.
The negative performance was majorly driven by selloffs in banking stocks.
The market capitalisation recorded represented a decline of 0.7 per cent closing at N26.787 trillion, compared to N26.976 trillion posted on Thursday.
Market breadth closed negative, with 16 gainers and 11 losers.
