Seplat loses as market capitalisation dropped below ₦14 trillion
The stock market extended its decline on Wednesday as 20 companies led by Seplat Petroleum Development Company Plc recorded losses at the close of trading on the Nigerian Stock Exchange.
The market capitalisation of equities listed on the NSE dropped to ₦13.984 trillion from ₦14.006 trillion on Tuesday, while the NSE All-Share Index fell by 0.15 per cent to close at 38,605.07 basis points.
Seplat saw its share price declined by 4.99 per cent to close at ₦717.20. It was followed by Custodian and Allied Insurance Plc, which fell by 4.93 per cent to ₦5.01 per share.
Livestock Feeds Plc shed 4.60 per cent to close at ₦0.83 per share; Unity Bank Plc depreciated by 4.35 per cent to ₦0.88 per share, while Unity Bank of Nigeria Plc lost 4.20 per cent to close at ₦5.70 per share.
Twenty-three stocks recorded price appreciation on Wednesday, with Prestige Assurance Plc leading the pack as its share price gained 10 per cent to close at ₦0.66.
C&I Leasing Plc appreciated by 9.34 per cent to close at ₦1.99 per share, while Eterna Plc increased by 8.93 per cent to ₦7.20 per share.
Japaul Oil & Maritime Service Plc was up by 7.50 per cent to close at ₦0.43 per share while Mutual Benefit Assurance Plc appreciated by 6.25 per cent to ₦0.34 per share.
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