High-cap stocks lead equities to N7b loss

Losses by large-cap stocks moderated the overall market situation at the Nigerian stock market yesterday.

The negative overall market position was due largely to losses by United Bank for Africa , Nigerian Breweries and Lafarge Africa. There were 23 gainers to 19 losers. Multiverse Mining and Exploration emerged the highest price gainer of 9.74 per cent to close at N2.93 per share. Chams Holding Company followed with a gain of 9.71 per cent to close at N1.92. Caverton Offshore Support Group advanced by 9.35 per cent to close at N1.52 per share. FTN Cocoa Processors rose by 8.97 per cent to close at N1.70 while Geregu Power appreciated by 7.71 per cent to close at N370.

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