A total of 14 stocks on the Nigerian Stock Exchange, NSE crashed below the earlier N0.50k threshold price a week after the bourse implemented the price methodology and par value rules.
The bourse saw four equities dropping to 48 kobo per share, the first day the rules took effect,while three others followed the second day.
Although the Insurance sector took a major hit as 10 of its counters dropped below the old price of 50 kobo per share, the sector still closed higher during the week, buoyed by gains on the heavily weighted stocks.
The 14 equities, which closed the week below 50 kobo per share last week were ABC Transport (40k), African Alliance Insurance (42k), Cornerstone Insurance (47k), FTN Cocoa Processors (46k), and Consolidated Hallmark Insurance (48k).
Others are Japaul Oil & Maritime Services (48k), LASACO Assurance (36k), MBENEFIT (48k), Multiverse Resources (48k), Prestige Assurance (48k), Royal Exchange (42k), Sovereign Trust Insurance (48k), Unic Insurance (46k) and Unity Kapital Assurance (46k).
