NGX: Conoil, Sovereign Insurance losses drag down market cap by 0.04%

Investors in Conoil, Sovereign Insurance, and other entities in the Nigerian capital market lost N13.94 billion at the close of trading on Friday.

This followed the crash in market capitalization by 0.04 percent from N30.46 trillion to N30.45 trillion at the close of the day’s business on the floor of the capital market.

Similarly, the All-Share Index dipped by 25.62 basis points to close at 55,930.97, down from 55,956.59 posted by the bourse on Thursday.

Investors traded 574.73 million shares valued at N6.08 billion in 6,595 deals on Friday.

This surpassed the 531.78 million shares worth N7.68 billion traded by shareholders in 6,061 deals the previous day.

NEM led the gainers’ list with a N0.55 rise in share price, moving from N5.50 kobo to N6.05 per share. 

Omatek’s share value was up by 10 percent to end trading at N0.22 kobo from N0.20 kobo per share. 

Golden Breweries gained 9.88 percent to move from N0.81 kobo to N0.89 kobo per share. 

Chams gained 9.52 percent to close at N0.46 kobo, above its opening price of N0.42 kobo per share. 

READ ALSO: Investors in oil companies make N40.5bn as Tinubu’s reform spurs demands in the capital market

FTN Cocoa’s share price was up by 9.41 percent, moving from N0.85 kobo to N0.93 kobo per share. 

Conoil topped the losers’ table after shedding N7.95 kobo to drop from N79.90 kobo to N71.95 kobo per share. 

Associated Bus Transport’s share price dropped by 9.30 percent to end trading at N0.39 kobo from N0.43 kobo per share. 

Sovereign Insurance lost 9.09 percent to end trading with N0.40 kobo from N0.44 kobo per share. 

Sunu Assurance’s share dropped from N0.47 kobo to N0.43 kobo per share after losing 8.51 percent during trading.

Courtville lost 8 percent to drop from N0.50 kobo to N0.46 per share.

FCMB led the day’s trading with 204.81 million shares valued at N941.95 million.

Access Corporation followed with 40.10 million shares worth N518.25 million. 

Japaul Gold sold 37.84 million shares worth N17.92 million. 

 Fidelity Bank traded 33.21 million shares valued at N191.17 million, while FBN Holdings sold 23.81 million shares valued at N333.33 million.

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