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Nigerian Stock Exchange: Aiico Insurance, Unity Bank lead N327bn gains

Activities in the Nigerian Stock Exchange, NSE, closed upbeat this week following sustained interest in the shares of some mid- cap stocks, particularly the banking stocks.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Breakdown of the week’s transaction showed that 49 emerged gainers higher than 30 of the previous week led by Aiico Insurance Plc, Unity Bank Plc, Wema Bank Plc, C&I Leasing and NPF Micro-finance Bank among others.

On the other hand, 42 companies recorded price losses compared to 44 in the previous week, while the prices of 81 equities remained unchanged lower than 98 equities in the preceding week.

Consequently, the the equities capitalisation rose to N16.019 trillion from N15.692 trillion, representing 2.09 percent increase.

Similarly, the All Share Index, ASI, appreciated by 1.98 percent to settle at 44,639.99 points from 43,773.76 basis points.

Aiico Insurance, which led the gainers, appreciated by 35.59 percent to close at N0.80 from N0.59, followed by Unity Bank with 31.75 percent increase to N1.66 from N1.26. Wema Bank Plc was the next as its share price rose by 31.58 percent to close at N1.50 from N1.26 per share.

C&I Leasing Plc recorded 25.81 percent price increase to close at N1.95 from N1.55, while NPF Micro-finance Bank Plc went up by 25 percent to close at N1.85 from N1.48 per share.

Further breakdown showed that four insurance stocks emerged on the top losers’ chart led by Lasaco Assurance by 28 percent to close at N0.36 from N0.50, followed by ABC Transport Plc, which went down by 20 percent to close at N0.40 from N0.50.

Law Union and Rock Plc’s shares fell by 16.67 percent to close at N0.80 from N0.96. African Alliance Insurance Company Plc was the fourth as it depreciated by 16 percent to close at N0.42 from n0.50 per share, while Royal Exchange Plc also recorded price decline of 16 percent to close at N0.42 from N0.50 per share.


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