CBN interest rate cut triggers N1.141trn loss at NGX

Investors connected the Nigerian equities marketplace suffered a large setback connected Tuesday, losing N1.141 trillion successful marketplace worth aft the Central Bank of Nigeria reduced the benchmark involvement complaint by 50 ground points to 26.50 percent.

Trading astatine the Nigerian Exchange Limited ended successful the red, arsenic dense sell-offs crossed large-cap, user goods, and security stocks weighed connected wide performance.

Stocks specified arsenic DAAR Communications, Tantalizers, BUA Foods, Ellah Lakes, and Japaul Gold, alongside 35 different equities, recorded terms declines, dragging the marketplace lower.

As a result, marketplace capitalization fell by N1.141 trillion, representing a 0.92 percent drop, to adjacent astatine N124.827 trillion compared to N125.968 trillion recorded successful the erstwhile session.

Similarly, the All-Share Index shed 1,778.95 points, oregon 0.92 percent, to settee astatine 194,484.61, down from 196,263.56 posted connected Monday.

The downturn trimmed the year-to-date instrumentality to 24.98 percent, portion marketplace breadth closed antagonistic with 40 decliners against 27 gainers.

On the losers’ chart, Tantalizers and DAAR Communications led with a 10 percent diminution each, closing a...