Stock Market Ends Lower as 26 Firms Lose

Forex Market
  • Stock Market Ends Lower as 26 Firms Lose

The nation’s stock market finished lower at the end of trading on Tuesday, with the market capitalisation of listed equities falling by N23bn.

The All-Share Index of the Nigerian Stock Exchange dropped by 0.15 per cent to 40,615.42 basis points, while the market capitalisation fell to N14.712tn from N14.735tn on Monday.

Twenty-six stocks recorded price reduction on Tuesday, with Veritas Kapital Assurance Plc topping the losers’ table as its share price dipped by 9.52 per cent to N0.38.

Diamond Bank Plc saw its share price shed 9.39 per cent to close at N1.64, while Skye Bank dropped by 5.56 per cent to close at N0.85 per share.

Japaul Oil & Maritime Services Plc depreciated by 5.41 per cent to close at N0.35 per share, while Cutix Plc lost 4.76 per cent to close at N3.00 per share.

Other losers were Unity Bank Plc, African Alliance Insurance Company Plc, C&I Leasing Plc, Oando Plc, Linkage Assurance Plc, FBN Holding Plc, Zenith Bank Plc and Caverton Offshore Support Group Plc

Twelve stocks led by Sovereign Trust Insurance Plc recorded gains at the close of trading on Tuesday.

Sovereign Trust Insurance appreciated by five per cent to close at N0.21 per share, Continental Reinsurance Plc increased by 4.23 per cent to N1.48 per share.

NPF Microfinance Bank Plc gained 3.93 per cent to close at N1.85 per share; Wapic Insurance Plc rose by 3.92 per cent to N0.53, while Mutual Benefits Assurance Plc increased by 3.45 per cent to close at N0.30 per share.

FCMB Group Plc appreciated by 3.54 per cent to close at N2.63 per share while Cutix Plc rose by 3.28 per cent to close at N3.15 per share.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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