New Telegraph

Insurance stocks lead N199bn market gain

The bulls maintained grip on equities market activities as stocks sustained rally for the second trading session following gains recorded by blue chip stocks.


The key market performance measures, the NSE All Share Index rose by 1.09 per cent as market sentiments extended gaining streaks following investors’ sustained positive sentiment on some stocks.


Consequently, the All-Share Index gained 381.78 basis points or1. 00 per cent to close at 35,225.22 index points as against 34,843.44 recorded the previous day while the market capitalisation of equities appreciated by N199 billion to close at N18.410 trillion from N18.211 trillion as market sentiment remained on the green zone.
Meanwhile, a turnover of 264.24 million shares exchanged in 4,356 deals was recorded in the day’s trading.
The premium sub-sector was the most active (measured by turnover volume); with 104.80 million shares exchanged by investors in 1,536 deals.
Volume in the sub-sector was largely driven by activities in shares of Zenith Bank Plc and Access Bank Plc.
The banking sub-sector boosted by activities in shares of Fidelity Bank Plc and Jaiz Bank Plc followed with a turnover of 53.55 million shares in 763 deals.

The number of gainers at the close of trading session was 29 while decliners also closed at 14.

Lasaco Assurance Plc led the gainers’ table by 10 per cent to close at 33 kobo per share while AXA-Mansard Assurance Plc followed by 9.38 per cent to close at 70 kobo per share. FTN Cocoa Plc added 8.33 per cent to close at 52 kobo per share.

On the other hand, Vanleer Nigeria Plc led the price losers’ table, dropping 9.89 per cent to close at N8.20 per share. Red Star Express Plc followed with 9.76 per cent to close at N3.05 per share while Unity Bank Plc trailed with a loss of 8.82 per cent to close at 62 kobo per share

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