Business

Public Holiday causes 34 Firms to Lose as Stock Market Finishes Lower

Public Holiday causes 34 Firms to Lose as Stock Market Finishes Lower

The equities market of the Nigerian Stock Exchange finished lower at the close of trading on Tuesday, after a two-day public holiday.

The market capitalisation of listed equities dropped to N14.006tn from N14.101tn on Thursday, while the NSE All-Share Index fell by 0.68 per cent to close at 38.664.15 basis points.

Thirty-four stocks recorded losses on Tuesday, with Prestige Assurance Plc leading the pack as its share price declined by 6.25 per cent to close at N0.60. Union Diagnostic and Clinical Services Plc shed five per cent to close at N0.38 per share, while Flour Mills of Nigeria Plc depreciated by 4.89 per cent to close at N31.15 per share.

Forte Oil Plc eased by 4.87 per cent to close at N35.15 per share, while Fidelity Bank Plc dropped by 4.85 per cent to N2.16 per share. Other losers were NASCON Allied Industries Plc, FCMB Group Plc, Equity Assurance Plc, Wapic Insurance Plc, Union Bank of Nigeria Plc, Unilever Nigeria Plc, United Bank for Africa Plc, Honeywell Flour Mill Plc, and Sterling Bank Plc, among others.

Twelve stocks recorded gains on Tuesday, with International Breweries Plc, Japaul Oil & Maritime Service Plc, C&I Leasing Plc, Eterna Plc and Ikeja Hotel Plc emerging the top gainers. International Breweries appreciated by 6.54 per cent to close at N44 per share. It was followed by Japaul, which was up by 5.26 per cent to N0.40 per share.

C&I Leasing saw its share price appreciate by 5.20 per cent to N1.82, while Eterna and Ikeja Hotel gained 4.92 per cent and 4.91 per cent respectively to close at N6.61 and N2.99 per share.

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