After starting the year on a positive momentum, the bear took over the insurance market sector of the Nigerian Exchange in the second trading week of the year as the market closed on a negative note at 0.69%
This was driven by sell-offs by most insurers which dragged the insurance ASI to close at 196.26 basis point as at 14th January 2022.
On week-on-week basis, the market cap of the sixteen insurance firms listed on the NGX declined significantly to close at N131.18 from the N131.98 last week as AIICO Insurance maintains its number one spot as the most capitalized on the Nigerian Exchange.
Highlights of insurers’ performance
- AIICO down -0.01% to close at N0.79
- AFRINSURE flat at N0.2
- CHIPLC down -0.01% to close at N0.67
- LASACO down -0.02% to close at 1.1
- LINKASSURE down -0.01% to close at N0.52
- SOVERENINS flat at N0.25
- WAPIC flat at 0.48
- SUNUASSUR down -0.03 to close at N0.31
- MANSARD flat at N2.31
- MBENEFIT down -0.01 to close at N0.27
- NEM flat at N3.96
- PRESTIGE Flat at 0.51
- REGALINS up 0.01% to close at N0.46
Top Traded by Volume
- LINKASSURE – 3,951,705 units
- CHIPLC – 2,558,056 units
- WAPIC – 1,827,589
- AIICO – 1,783,225
- REGALINS – 802,474
Top Traded by Value
- 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 a similar wave, the Nigerian Exchange (NGX) closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 34 basis point from the previous trading day to close at 44,454.67 with a Year-to-Date (YTD) return of 4.07% while, the market capitalization decreased by N80.85 billion.
