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Conoil, Courteville lead N25bn equities decline

By Nkiruka Nnorom
Heavy sell-off on the shares of 23 companies led by Conoil Plc, Courteville Business Solution, CBS, Plc among others, this week resulted in loss of N25 billion in investors wealth in the stock exchange.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Specifically, at the end of trading this week, 23 equities appreciated in price, lower than 30 of the previous week.

54 equities depreciated in price, higher than 48 equities of the previous week, 95 equities remained unchanged higher than 94 equities recorded in the preceding week.

Conoil Plc, which has been witnessing heavy sell-off since the beginning of this week, led the losers with 18.32 percent decline to close at N32.10 from N39.30 per share, followed by CBS which went down by 15.79 percent to close at N0.32 from N0.38.

Unic Diversified Holdings Plc ranked third, depreciating by 15.63 percent to close at N0.27 from N0.32; Unity Bank Plc was down 12.87 percent to close at N1.49 from N1.71, while DN Tyre and Rubber Plc decreased by 12 percent to close at N0.44 from N0.50 per share.

Consequently, the All-Share Index, ASI, went down by 0.16 percent to settle at 42,570.89 points from 42,638.83 points.

Similarly, the market capitalisation of all listed equities fell by N25 billion or 0.16 percent to close at N15.277 trillion from N15.302 trillion.

On the gainers table, Livestock Feeds Plc towered above other, appreciating by 19 percent to close at N1.19 from N1.00. Japaul Oil and Maritime Services Plc placed second, rising by 16.67 percent to close at N0.42 from N0.36. Chemical and Allied Products, CAP Plc, rose by 7.80 percent to close at N38.00 from N35.25 per share.

Aiico Insurance Plc chalked up by 7.14 percent to close at N0.75 from N0.70, while United Bank for Africa, UBA Plc, went u by 6.58 percent to close at N12.95 from N12.15 per share.


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