AxaMansard tops losers chart as equities gain N34bn

AxaMansard tops losers chart as equities gain N34bn

AxaMansard tops losers chart as equities gain N34bn

AxaMansard Insurance Plc’s shares led the losers’ table at the close of trading on Monday, as the Nigerian Stock Exchange market capitalisation soared by N34bn.

The market also recorded additional 27 losers with 23 gainers, as 254.485 million shares worth N5.797bn exchanged hands in 4,600 deals.

Equities capitalisation rose to N12.933bn from N12.899tn, while the All-Share Index closed at 37,525.38 basis points from 37,425.15 basis points.

AxaMansard share price dropped by 4.61 per cent to close at N2.07 from N2.17. Also, Continental Reinsurance Plc, AG Leventis Plc, Africa Prudential Plc and Fidson Healthcare Plc shares slid by 4.32 per cent, 4.17 per cent, 4.15 per cent and 4.13 per cent, respectively.

The Nigerian equities market recorded a 0.27 per cent gain at the close of trading to settle the year-to-date return at 39.63 per cent.

The Cement Company of Northern Nigeria Plc was the best performing stock, advancing by 10.16 per cent to close at N10.84. C&ILeasing Plc, Dangote Flour Plc, Livestock Feeds Plc and Cadbury Nigeria Plc shares followed, gaining 10 per cent, 7.61 per cent, 7.53 per cent and five per cent, accordingly.

Sector performance as measured by the NSE sector indices showed that the NSE food/beverage and the NSE industrial indices closed in the green zone advancing, by 2.18 per cent and 0.59 per cent. However,the NSE insurance, NSE banking and the NSE oil/gas indices declined by 1.99 per cent, 0.20 per cent and 0.18 per cent, accordingly.

“The positive outing witnessed at the close of today’s trading activities may be attributed to continued bullish sentiments towards some heavily weighted stocks particularly in the consumer goods space,” analysts at Meristem Securities said in a post.

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