Seplat, 19 others push market cap below N14tn
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 N13.984tn from N14.006tn 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 N717.20. It was followed by Custodian and Allied Insurance Plc, which fell by 4.93 per cent to N5.01 per share.
Livestock Feeds Plc shed 4.60 per cent to close at N0.83 per share; Unity Bank Plc depreciated by 4.35 per cent to N0.88 per share, while Unity Bank of Nigeria Plc lost 4.20 per cent to close at N5.70 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 N0.66.
C&I Leasing Plc appreciated by 9.34 per cent to close at N1.99 per share, while Eterna Plc increased by 8.93 per cent to N7.20 per share.
Japaul Oil & Maritime Service Plc was up by 7.50 per cent to close at N0.43 per share while Mutual Benefit Assurance Plc appreciated by 6.25 per cent to N0.34 per share.