240712 Equity Market closes downbeat by -0.91%; CBN retains MPR at 12%

Trading activities on the Nigerian bourse closed downbeat after a session of positive outlook with the negative transaction witnessed in the shares of Dangote Cement Plc contributing to the outlook recorded today despite impressive market breadth while Nigeria's central bank left its benchmark interest rate on hold at 12% as expected but took measures to tighten liquidity to support the weakening local naira currency.

Nevertheless, the key benchmark indices sustained uptrend as sentiments remained positive, taking supports majorly from Large CAP stocks which was particularly driven by FIRSTBANK while Medium CAP stocks also contributed to the outlook recorded today due to continuous bargain activities witnessed in Conglomerates, Consumer Goods, Industrial Goods and Oil & Gas sectors.

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