July 25 (Lagos) - The All Stock Index of the Nigerian Stock market rose by 2.54% after the Monetary Policy Committee of the CBN decided to maintain the current benchmark lending rate at 14% in spite of raging inflation prevailing in the Country.
UBA & MAYBAKER
added 10% each today to their respective stock prices closing the day on N 10.41 and N 3.19 respectively.
Dangote Cement Plc ( DANGCEM
) closed higher at N 233.50 thereby hitting a new high point for the past year. When this stock rises by more than 4% like it did today, then the All stock Index rises sharply as well because it is the most weighted stock in the index.
Nestle Nigeria Plc ( NESTLE
) rose almost 1% to N 910 per unit and FLOURMILL
rose almost 5% to N 28.03 per unit today at the exchange.
GTB ( GUARANTY
) also hit a new one year high price today of N 37.7 per unit at close of day.
OANDO rose almost 5% to close at 7.85% today.
reporting for easykobo.com on Tuesday, July 25 2017 from Lagos, Nigeria