Africa Prudential, 25 others push stock market lower

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.

Twenty firms, led by UPDC Real Estate Investment Trust, recorded price appreciation at the close of trading on the floor of the NSE on Monday.

UPDC REIT rose by 9.35 per cent to close at N5.85 per share, while Consolidated Hallmark Insurance gained 9.09 per cent to close at N0.36 per share.

<<Punch>>