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Losses in Japaul Gold, Sovereign Insurance slow Nigeria’s capital market growth

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The equity capitalization in the Nigerian capital market rose slightly by 0.04 percent following a drop in demand for Japaul Gold, Sovereign Insurance, and other shares on Wednesday.

Consequently, the market capitalization rose by N13.94 billion from N29.67 trillion to N29.68 trillion after eight hours of trading today.

Similarly, the All-Share Index appreciated by 25.59 basis points to close at 54,507.66 ASI, up from 54,482.07 achieved by the bourse on Tuesday.

Investors traded 134.45 million shares worth N4.35 billion in 2,905 deals on Wednesday.

However, this fell short of the 163.63 million shares valued at N5.50 billion that exchanged hands in 3,145 deals the previous day.

Linkage Assurance led the gainers’ list with a 7.14 percent rise in share price moving from N0.42kobo to N0.45kobo per share.

Tripple Gee gained N0.15kobo to move from N1.50kobo to N1.65kobo per share.

Consolidated Hallmark Insurance’s share value was up by 4.62 percent to end trading at N0.68kobo from N0.65kobo per share.

Ikeja Hotel’s shares traded upward by 4 percent to rise from N1 to N1.04 per share.

FTN Cocoa gained 3.57 percent to close at N0.29kobo, above its opening price of N0.28kobo per share.

Sovereign Insurance topped the losers’ table after shedding 6.67 percent to drop from N0.30kobo to N0.28kobo per share.

READ ALSO: NGX: Market cap down by -0.05% as investors lose N17.7bn in five hours

Japaul Gold’s share price dropped by 6.67 percent to end trading at N0.28kobo from N0.30kobo per share.

NASCON lost N0.40kobo to end trading with N10.80kobo from N11.20kobo per share.

Chams’ share dropped from N0.29kobo to N0.28kobo per share after losing 3.45 percent during trading.

FCMB lost N0.15kobo to drop from N4.60kobo to N4.45kobo per share.

GTCO led the day’s trading with 42.34 million shares valued at N1.06 billion.

UBA traded 13.10 million shares worth N109.90 million.

AIICO sold 6.66 million shares worth N3.95 million.

FBN Holding followed with 6.34 million shares valued at N73.97 million, while Access Corp traded 5.50 million shares valued at N50.85 million.

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