Nigeria: Stock Market Rebounds On MPC's Decision to Tackle Exchange Rate Issue

25 May 2016

The stock market rebounded yesterday rising by 0.80 per cent in reaction to the decision of the Central Bank of Nigeria (CBN)'s Monetary Policy Committee (MPC) to address the lingering concern around the exchange rate among others issues.

The market had declined the previous day as some investors took profits while others awaited the decisions of the MPC. However, stocks rebounded with the Nigerian Stock Exchange (NSE) All-Share Index rising 0.80 per cent to close at 27,231.50, while market capitalisation added N74.02 billion to close at N9.35 trillion.

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