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Investors’ wealth down N84bn on price drop in 42 equities

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Investors in the Nigerian Stock Exchange, NSE, today recorded N84 billion losses on their investment as price of 48 equities, led by Lasaco Assurance Plc and Japaul Oil and Maritime Services Plc, depreciated in price.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

The loss led to a drop in the equities market capitalisation by 0.6 percent to N15.33 trillion from N15.409 trillion.

Lasaco Assurance Plc, which led the pack, dropped by 9.25 percent to close at N0.38 from N0.42, followed by Japaul Oil and Maritime Services Plc, which declined by 9.09 percent to N0.80 from N0.88 per share.

Diamond Bank Plc placed third, depreciating by 7.34 percent to close at N2.02 from N2.18. Multiverse Mining and Exploration Plc went down by 6.90 percent to close at N0.27 from N0.29, while Courtville Business Solution Plc recorded 6.67 percent price decline to close at N0.28 from N0.30 per share.

On the other hand, 15 gainers emerged, led by C&I Leasing, which rose by 7.78 percent to close at N1.94 from N1.80. Livestock Feeds Plc and UAC Property Development Company Plc placed second, rising by five percent each to close at N3.15 and N2.75 respectively.

Fidson Healthcare Plc closed the list of the top five gainers table, appreciating by 4.90 percent to close at N2.75 from N2.62 per share.

The post Investors’ wealth down N84bn on price drop in 42 equities appeared first on Vanguard News.

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