CBN’s fixed income policy wanes as equity investors lose N153 bn

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CBN

CBN

By Peter Egwuatu

The positive impact of the Central Bank of Nigeria, CBN’s fixed income policy in the equity market may have started fizzling out following the loss recorded by investors today (Monday) as the Nigerian Stock Exchange, NSE market capitalisation dropped by N153.0 billion to N13.0 trillion.

Similarly, the NSE All Share Index, ASI another major market indicator declined by 4 bases points, bps or 0.04 percent to close at  26,990.59 points while Year to Day,  YtD loss stood at -14.1 percent.

However, activity level was mixed as volume traded rose 8.5 percent to 246.5million units while value traded declined 33.4 percent to N2.4billion. The top traded stocks by volume were FCMB (97.8million), Zenith Bank (21.8million), and FBNH (15.2million) while Nigerian Breweries (N614.9 million), Zenith Bank (N406.8 million) and Dangote Cement (N352.6million) led the value chart.

Sector performance was mixed as three of six indices under coverage closed positive while the AFR-ICT Index closed flat. The Insurance Index led gainers as price appreciation in MANSARD (+5.9 percent) and Law Union (+9.2 percent) drove the Index higher by 1.0 percent.

The Consumer Goods Index trailed, appreciating 0.7 percent due to buying interest in Unilever (+9.9 percent) and International Breweries  (+6.4 percent).

On the flip side, the Industrial Goods Index declined 1.2 percent, following sell-offs in CCNN (-5.0 percent) and CUTIX (-1.4 percent). Similarly, the Oil & Gas and Banking indices depreciated 0.2 percent apiece, driven by losses in OANDO (-1.3 percent), Guaranty Trust Bank (-0.5 percent) and FCMB (-5.5 percent).

Vanguard

Source:

https://www.vanguardngr.com/2019/12/cbns-fixed-income-policy-wanes-as-equity-investors-lose-n153-bn/

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