Lasaco, Cornerstone Insurance Plunge As Stock Market Dips N54bn
The Nigerian Equities Market has resumed trading for the week on a bearish note with medium and large stocks like Fidson Plc, Lasaco Assurance Plc, Cornerstone Insurance, FTN Cocoa Plc and Mutual Benefit Assurance Plc closing as top laggards firms.
The All-Share index fell by 0.27 percent or 103.61 index point to close transaction at 38,545.30 basis point down from 38,648.91 bSus point it opened trading with on Monday.
Significantly, the market capitalisation which is the total market share of listed companies on the Nigerian Exchange Limited (NGX) depreciated by 0.27 percent or N54.004 billion to stand at N20.089 trillion down from
N20.143 trillion.
Also, the market turnover increased by 5.2 percent, as investors bought and sold 209.212 million shares valued at N1.763 billion in 3,390 deals, compared to 220.637 million worth of shares valued at N2.528 billion in 2,952 deals traded the previous trading session.
The NGX market breadth was negative with 17 laggard equities compared to 18 advanced stocks.
The gainers’ table was dominated in percentage terms by Meyer Plc, when it leapt by 8.77 percent to close at N0.62 Kobo per share.
Champion Breweries and Julius Berger Plc rose by 6.06 and 4.71 percent to close at N2. 10 Kobo and N20.00 per share respectively.
In the same vein, Regency Assurance Plc surged by 4 percent to close at N0. 52 Kobo per share, while Ikeja Hotel Plc jumped 3.19 percent to close at N0. 97 Kobo per share.
Conversely, the losers’ table was led in percentage parameters by Fidson Plc, when it dipped by 9.80 percent to close at N4. 60 Kobo per share.
Lasaco Assurance Plc shed 9.33 percent to close at N1.36 Kobo per share, while FTN Cocoa Plc fell by 9.09 percent to close at N0. 30 Kobo per share.
Also, Mutual Benefit Assurance Plc and Cornerstone Insurance lost 8.88 and 5.17 percent to close at N0. 41 Kobo and N0. 55 Kobo per share respectively.
Access Bank Plc closed NGX market activity chart as the most active stock at 22.719 million shares valued at N193.988 million, while Zenith Bank Plc ended transaction as most valuable equity at N384.583 million.
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