The hike in interest rates impacted negatively on the domestic equities market yesterday market capitalisation declined by N46 billion, amid sell pressure in 27 stocks with a decline of N46 billion. The MPC of the Central Bank of Nigeria (CBN) at the end of its 296th bi-monthly policy meeting yesterday, raised the benchmark policy rate (MPR) by 50bps to 26.75 per cent, marking the fourth increase in 2024. The all-share index (ASI) lost 82.48 points, representing a decline of 0.08 per cent to close at 100,486.12 points. Also, market capitalisation declined by N46 billion to close at N56.899 trillion. The
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