Three insurance companies returned value to their shareholders in terms of equity price appreciation, as the sector accounted for 30 per cent of the top 10 gainers companies for the week.
While Dangote Sugar led the top 10 gainers for the week with 20.31 per cent or N2.91 increase to close trading at N17.24 per share, Linkage Assurance placed second on the gainers’ table with 14.29 per cent or N0.08 growth in equity price, closing at N0.64 per share.
While International Breweries placed third on the gainers’ table with 11.97 per cent or N6.20 increase in share price, to close at N58.00 per share, N.E.M Insurance CO (NIG) with capital appreciation of 9.77 per cent or N0.13 placed forth on the NSE”s gainers’ table for the week, as it closed higher at N1.46 per share.
The top ten gainers table for the week further showed that Unilever Nigeria placed 5th on the table with 9.07 per cent or N3.40 growth in equity price to close at N40.90 per share, Nigerian Aviation Handling Company followed with 8.03 per cent or N0.04 to close higher at N3.90, Neimeth International Pharmaceuticals gained 7.02 per cent or N0.04, closing at N0.61 per share, while Custodian and Allied gained 6.67 per cent or N0.25 to close higher at N4.00 per share.
ETERNA PLC and Fidelity bank closed the top 10 gainers’ table for the week with 6.38 per cent; and 6.25 per cent gains to close at N4.00 and N1.70 per share, respectively.
However, only on insurance company emerged in the top 10 decliners list for the week, indicating the high returns the lowly priced sector stocks promises investors.
LAW UNION AND ROCK Insurance as the 6th worst performing stock for the week in terms of equity pricing,declined by 6.15 per cent or N0.04 to close lower at N9.61 per share.
Stories by Bonny Amadi