Stocks fall further, market cap drops below N21tn punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
By Goddy Egene
The stock market sustained its positive performance for the second day as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.14 per cent to close at 40,221.30, while market capitalisation added N29.5 billion to close at N21.043 trillion.
The gain recorded followed increased buying interest in Lafarge Africa Plc, Zenith Bank Plc and Guaranty Trust Bank Plc. A total of 22 stocks appreciated compared with 20 that depreciated. Market operators said bargaining hunters are positioning for dividends that are being declared for the 2020 earnings season. United Capital Plc and African Prudential Plc had last week announced dividends of 70 kobo and 50 kobo last week.
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’Femi Asu
The nation’s stock market finished lower on Monday as 26 firms recorded price losses at the end of trading.
The Nigerian Stock Exchange All Share Index declined by 0.08 per cent to close at 40,154.09 basis points from 40,186.70bps on Friday.
The market capitalisation of equities fell to N21.01tn from N21.03tn on Friday.
Africa Prudential Plc led the losers on Monday as its share price dropped by 9.59 per cent to N6.60. It was followed by LASACO Assurance Plc, whose share price fell by 9.52 per cent to N1.52.
Niger Insurance Plc shed 8.70 per cent to close at N0.21 per share; Lafarge Africa Plc lost eight per cent to close at N23 per share; while Red Star Express Plc declined by 7.42 to close at N3.12 per share.
Linkage Assurance attributes growth to brokers support vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.