Stock market: Investors lose N220bn in one day

Stock market: Investors lose N220bn in one day

Feyisayo Popoola

Investors in the nation’s stock market lost a total of N220bn on Monday due to the losses recorded by 22 firms listed on the Nigerian Stock Exchange.

The NSE All-Share Index fell by 1.71 per cent to close at 34,663.48 basis points while the market capitalisation of listed equities dropped to N12.654tn from N12.874tn on Friday.

UACN Property Development Company Plc, which led the losers’ table on Monday, fell by 8.19 per cent to N1.57 per share.

Honeywell Flour Mill Plc saw its share price drop by 7.59 per cent to close at N1.46, while Japaul Oil and Maritime Services Plc declined by 7.14 per cent to N0.26.

The share price of PZ Cussons Nigeria Plc depreciated by 7.12 per cent to N13.05 while that of United Capital Plc fell by 6.62 per cent to N2.82.

Eleven stocks recorded price appreciation on Monday, with Airline Services and Logistics Plc leading the pack with a 8.99 per cent rise to close at N4.85 per share.

FCMB Group Plc gained 5.88 per cent to close at N1.80 per share, while Regency Alliance Insurance Company Plc increased by 4.35 per cent to close at N0.24 per share.

SkyeBank shed 4.17 per cent to close at N0.50 per share, while LASACO Insurance Plc dipped by 3.23 per cent to N0.32 per share.

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