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STOCK: AIICO Insurance, Ikeja Hotels lead, as equities rise N24bn

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Stock exchange
Nigerian Stock Exchange

By Nkiruka Nnorom

Activities on the Nigerian Stock Exchange, NSE, ended on a positive note on Thursday, with investors gaining N24 billion to halt almost three weeks of bearish trend.

At the end of trading, the equities market capitalisation rose to N14.362 trillion from N14.338 yesterday, representing 0.17 percent increase.

The All Share Index, ASI, advanced to 27,568.91 points from 27,523.08 points, indicating 0.17 percent returns.

ALSO READ: NSE market indices open week with 1.05% loss

Analysis of the price movement chart indicated that for every two gainers, there was a loser.

AIICO Insurance Plc and Ikeja Hotels Plc led the advancers, rising by 10 percent apiece to close at N0.99 and N1.21, respectively.

Chemical and Allied Products Plc, a subsidiary of UAC of Nigeria Plc, placed third, appreciating by 9.94 percent to close at N3.54 per share, while Wapic Insurance Plc and ABC Transport Plc, followed with 9.68 percent and 9.38 percent increase to close at N0.34 and N0.35 per share, respectively.

On the other hand, Law Union and Rock Plc and Sky Shelter Fund REIT led the losers, dropping by 10 percent each to close at N0.09 and N8.85 per share respectively.


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