Investors react to Fidelity’s bond itemizing, because it features N1.74 billion

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AIICO, NEM Insurance and three others have gained a complete of N2.29 billion in worth on Thursday eleventh March 2021, regardless of an general bearish return within the NSE Market.

Inference from the info sourced from the Nigerian Stock Exchange market, signifies that the features are as a consequence of appreciation within the share costs of the 5 insurance coverage corporations, a part of which acted as a catalyst to carry the NSE Insurance Index by 0.69% as at shut of enterprise on eleventh of March, 2021.

The 5 insurance coverage corporations which coincidentally are the one insurance coverage corporations that recorded constructive progress are AIICO, NEM, Consolidated Hallmark, LASACO and Regency Assurance.

A snapshot of how a lot they gained and the appreciation of their share costs are succinctly captured under;

READ: Consolidated Hallmark Insurance declares N711.5 million profit, up 33%  


AIICO

AIICO Insurance which is the second most capitalized insurance coverage firm on the ground of the Nigerian Stock Exchange printed one of many highest features right now, as its share value appreciated by 4.27% to shut at N1.22.

The improve within the share value acted as a catalyst within the appreciation of the agency’s market capitalization by about N1.033 billion, from N24.19 billion recorded as at shut of enterprise on Wednesday to N25.22 billion.

It can also be pertinent to notice {that a} whole of 19.67 million items of the agency’s shares had been traded on Thursday (the very best recorded by the agency since January 4, 2021), indicating a surge of about 179.4% when in comparison with the items traded a day earlier.

READ: Finance and Insurance Sector contributes 3.36% to GDP in 2020


NEM Insurance

NEM Insurance Plc share value appreciated by 5.11% to shut at N1.85 per share. This resulted in a rise within the agency’s market capitalization, from N17.66 billion as on the shut of enterprise on Wednesday to N18.56 billion, implying a rise of about N902.97 million for the aforementioned interval.

Investors traded about 2.95 million items of the agency’s shares, indicating a surge of about 422.7% when in comparison with the items traded in the day gone by.

READ: NEM Insurance Plc projects N1.71 billion PAT in Q1 2021


Consolidated Hallmark Insurance

Consolidated Hallmark Insurance posted the very best improve by any insurance coverage inventory on Thursday. It recorded a 7.41% improve in its share value which closed at N0.29. The improve trickled all the way down to the market capitalization which added N214.09 million, from N2.89 billion posted a day earlier.

It is worthy to notice {that a} whole of 978,670 items of the agency’s shares had been traded on Thursday, indicating a decline of 73.95% when in comparison with the items traded beforehand.

Recall that Consolidated Hallmark Insurance Plc had earlier posted a Profit After Tax of N647 million for FY 2020.

READ: Insurance companies to report over N100 billion in claims in 2020


LASACO

LASACO Assurance Plc posted a 3.28% improve in its share value which closed at N1.26. The improve performed a pivotal position within the development of its market capitalization, from N2.24 billion as on the shut of enterprise on Wednesday to N2.31 billion, implying a rise of about N73.35 million.

In lieu of this, a complete of about 1.16 million items of shares had been traded within the bourse, indicating a decline of about 29.8% when in comparison with the items traded a day earlier.

LASACO Assurance Plc had earlier reported the completion of its share reconstruction train, involving about 7.3 million odd shares. This train subsequently raised the preliminary share value of the agency to about N1.68.

READ: Dangote’s net worth declines by $1.2 billion in February


Regency Assurance

Regency Assurance Plc gained about N66.69 million in market capitalization, after its share value appreciated by 3.45% to shut at N0.30. The agency’s market capitalization as at shut of enterprise on Thursday stood at N2 billion.

A complete of about 240,667 items of the agency’s shares had been traded.


What it is best to know

  • Investors on the Nigerian Stock Exchange market misplaced a complete of N122.47 billion, because the ASI plunged about 0.60% to shut at 38,697.17 index factors.
  • Despite the overall bearish outlook, the NSE Insurance index appreciated by 0.69% to shut at 194.88 index factors.
  • The aforementioned 5 insurance coverage shares additionally double as the highest 5 gainers within the NSE Insurance index.
  • On the opposite hand, the highest losers within the insurance coverage index are; African Alliance Insurance Plc (-8.33%), Mutual Benefits Assurance (-7.14%), Sovereign Trust Insurance (-7.14%), AXA Mansard (-1.00%).

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