AIICO Insurance Plc, Custodian Insurance, Sovereign Trust Insurance and Sunu Assurance Nigeria Plc were the biggest losers as the Insrahxe index of the Nigerian Exchange Group (NGX) dropped 0.40 percent on Thursday.
The Insurance Index which measures performance of Insurance companies on the Stock market fell by 0.40 percent to stand at 193.02 index point down from 193.80 index point.
Sunu Assurance Nigeria Plc recorded the biggest drop by 9.09 percent, closing at N0. 60 Kobo per share down from N0. 66 Kobo per share, while Sovereign Trust insurance Plc closely followed with a 8.00 percent dip to close at N0. 23 Kobo per share from its opening price of N0.25 Kobo per share.
The decline of the sector continued with AIICO Insurance Plc which shed 2.38 percent to close at 1.23 Kobo per share down from N1. 26 Kobo per share, while the share price of Custodian Insurance Plc depreciated to N6 per share down from N6.05 Kobo per share, representing a 0.83 percent fall.
The overall market activity on the NGX saw the All-Share Index and Market Capitalization rising marginally by 0.01 percent to sustain the recent recovery of the Equities market.
The ASI gained 18.82 index point to close at 39,131.80 basis point, having opened trading for the day at 39,112.98 basis point, while the market capitalisation appreciated by N9.847 billion to stand at N20.479 trillion up from N20.469 trillion.
The market turnover decreased by 2.80 percent, as investors traded
228. 111 million shares worth N 2. 635 billion in 3,656 deals compared to 234. 684 million shares valued at N1.61 billion in 3,650 deals the previous trading session.
The market activity table shows Guaranty Trust Bank returning as the most active and valuable stock on the NGX, trading 37. 289 million shares valued at N1.162 billion.
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