MARKET UPDATE FOR SEPTEMBER 26, 2017
POST-MPC: NIGERIAN BOURSE CONTINUES SEARCH FOR DIRECTION, AS INVESTORS, DIGEST ECONOMIC REALITIES Trading activities on the Nigeria stock Exchange (NSE) on Tuesday had a mixed and volatile session as traders and investors waited anxiously for the outcome of the 115 th Monetary Policy committee (MPC). It however turned out that like was widely expected, an absolute majority of the committee’s members voted to retain all rates for the seventh consecutive time. There was also a promise of flexibility in ensuring that stimulus packages that will continue to drive economic growth and sustain the ongoing recovery, are put in place in expectation that fiscal authorities hasten the faithful implementation of the 2017 budget. This, it is hoped, will support the Economic Recovery & Growth Plan (ERGP) and aid national output as PMI remains positive and at above the 50 points threshold to indicate early expansion to further confirm the nation’s exit, even if marginally fr...