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Hallmark Insurance, Skye Bank losses depress NSE’ capitalisation

Losses sustained by 48 quoted companies led by an insurance name, Hallmark Insurance Plc, Skye Bank Plc, Transcorp Plc, FBN Holdings Plc and AG Leventis today resulted in further loss of N138 billion in the equities capitalisation.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Investors had lost N135 billion yesterday after 34 companies headed northward.

At the close of trading today, Hallmark Insurance recorded 9.09 percent price decline to close at N0.40 from N0.44, followed by Skye Bank Plc, which went down by 8.89 percent to close at N1.23 from N1.35.

Transcorp Plc, which ranked third on the top five losers table, depreciated by 6.84 percent to close at N2.18 from N2.38 per share. FBN Holdings Plc went down by 5.15 percent to close at N12.90 from N13.60, while AG Leventis Plc depreciated by 4.92 percent to close at N0.58 from N0.61 per share.

Conversely, another insurance company, Prestige Assurance Plc led the gainers chart with 7.69 percent increase to close at N0.56 from N0.52. This was followed by Caverton Offshore Group Plc with 6.92 percent increase to close at N2.78 from N2.60 per share. African Alliance Insurance Company Plc placed third, appreciating by five percent to close at N0.42 from N0.40; Transnationwide Express recorded 4.94 percent increase to close at N0.85 from N0.81 per share, while Dangote Sugar Refinery Plc went up by 4.76 percent to close at N22.00 from N21.00 per share.


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