Nigerian Stock Market Gains on Improved Investor Sentiment and MPC Decision

The Nigerian stock market experienced gains as the All-Share Index (ASI) and market capitalization rose due to improved investor sentiment following the Monetary Policy Committee's recent rate decision. The ASI appreciated by a percentage, while market capitalization increased to trillion.

Market breadth improved with 34 gainers and 22 losers. Top performers included MECURE, OANDO, and MCINHOLS, while ETERNA led the losers.

Analysts attributed the positive sentiment to the MPC rate cut, prompting investors to reposition their portfolios in anticipation of lower borrowing costs. Despite the selective market activity, the rally was concentrated on specific stocks.