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AIICO, WAPIC, NEM, others lead sector’s turnover

Increasing interest in insurance stocks continue to pervade insurance stocks seen as generating value for investors, as depicted in equities transaction for the week ended Friday, 18th August, 2017.

The equities market report published by the Nigerian Stock Exchange (NSE) for the week, showed that out of the total insurance sector’s turnover of 31,188,819 million shares valued at N22,698,718.83 million, five companies contributed about 98 per cent of the turnover, leaving the rest with mere 4 per cent.

The combined turnover recorded by Wapic Insurance, AIICO Insurance, N.E.M Insurance Co, Axamansard Insurance and Linkage Assurance peaked at 29.45 million shares, accounting for about 98 per cent of the sector’s total turnover for the week.

WAPIC INSURANCE emerged as the company with highest turnover for the insurance sector with a total turnover of 10,648,359 million shares valued N5, 336,228.0 and traded by investors in 592 deals. The company closed trade for the week at N0.50 per share.

AIICO Insurance followed in the week’s activity table with total turnover of 10,884,065 million shares worth N6,
086,980.63m, which was transacted by investors in 198 deals. AIICO closed week at N0.56 per share.

N.E.M Insurance Company emerged as the third most trade insurance stock for the week ended August 18TH with 3,577,703 million shares worth N3, 651,467.08 and exchange by investors in 78 deals at closing price of N0.96.

Linkage Assurance was the fourth in activity table of the Insurance sector with 1,967,136 million shares worth N1, 501,017.08 transacted by investors in 12 deals. The company’ shares closed the week’s trade at N0.77 per share.

Bonny Amadi

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