Insurance coverage market sheds detrimental ASI on the again of sell-offs

After beginning the yr on a optimistic momentum, the bear took over the insurance coverage market sector of the Nigerian Trade within the second buying and selling week of the yr because the market closed on a detrimental word at 0.69%

This was pushed by sell-offs by most insurers which dragged the insurance coverage ASI to shut at 196.26 foundation level as at 14th January 2022.

On week-on-week foundation, the market cap of the sixteen insurance coverage corporations listed on the NGX declined considerably to shut at N131.18 from the N131.98 final week as AIICO Insurance coverage maintains its primary spot as probably the most capitalized on the Nigerian Trade.

Highlights of insurers’ efficiency

  • AIICO down -0.01% to shut at N0.79
  • AFRINSURE flat at N0.2
  • CHIPLC down -0.01% to shut at N0.67
  • LASACO down -0.02% to shut at 1.1
  • LINKASSURE down -0.01% to shut at N0.52
  • SOVERENINS flat at N0.25
  • WAPIC flat at 0.48
  • SUNUASSUR down -0.03 to shut at N0.31
  • MANSARD flat at N2.31
  • MBENEFIT down -0.01 to shut at N0.27
  • NEM flat at N3.96
  • PRESTIGE Flat at 0.51
  • REGALINS up 0.01% to shut at N0.46

High Traded by Quantity

  • LINKASSURE – 3,951,705 items
  • CHIPLC – 2,558,056 items
  • WAPIC – 1,827,589
  • AIICO – 1,783,225
  • REGALINS – 802,474

High Traded by Worth

  • LINKAGE at N2,082,270.35
  • CHIPLC at N1,677,086.58
  • AIICO at N1,409,672.69
  • NEM at 1,079,060.55
  • WAPIC at 882,512.72

In an analogous wave, the Nigerian Trade (NGX) closed on a detrimental word amidst sell-offs and buy-interests because the benchmark All-Share Index (ASI) depreciated by 34 foundation level from the earlier buying and selling day to shut at  44,454.67 with a 12 months-to-Date (YTD) return of 4.07% whereas, the market capitalization decreased by N80.85 billion.

 

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