Insurance Sub-Sector Boosts Activities At Exchange

The Insurance sub-sector boosted transactions on the Nigerian Stock Exchange (NSE) on Friday, trading 110.78 million shares valued at  N120.14 million in 222 deals. 

Transactions in the sub-sector were largely driven by the shares of Niger Insurance Co. Plc, which traded 102.44 million shares worth N111.08 million in 25 deals. 

The Banking sub-sector, enhanced by the shares of UBA, followed with 72.13 million shares worth N629.65 million traded in 2,775 deals.

Investors in UBA exchanged 18.8 million shares worth N188.6 million in 244 deals while the Food, Beverages and Tobacco sub-sector had N321.7 million invested on 10.3 million shares in 694 deals.

Reports say that the market indicators grew by 0.41 per cent as a result of Friday’s impressive trading. 

The market capitalisation rose by N25 billion to close at N6.077 trillion against the N6.052 trillion recorded on Thursday.

The All-Share Index went up by 101.69 points to close at 24,846.64 from the previous 24,744.95. 

Prices of 31 stocks appreciated while those of 27 depreciated.  

Nigerian Bottling Company (NBC) topped the price gainers table, appreciating by N1.25 to close at N32.75 per share.  

Nestle shares rose by N1.00 to close at N356.00 per share while Nigerian Breweries gained 66k to close at N65.46 per share.

Onado led on the price losers’ pack, depreciating by N2.00 to close at N70.00 per share. 

AP shares dropped N1.10 to close at N32.90 while CCNN lost 85k to close at N16.20 per share. 

A total of 440.55 million shares worth N1.95 billion were traded in 5,544 deals on the NSE on Friday against 228.85 million shares valued at N1.69 billion traded in 5,709 deals on Thursday.