Shares of Axa Mansard Rise 15.69% in One Week

By Dipo Olowookere

The shares of Axa Mansard Insurance Plc appreciated by 15.69 per cent week-on-week at the Nigerian Exchange (NGX) Limited to N1.77 last week amid investors’ interest in the underwriting firm.

The insurer finished the week as the higher price gainer in the five-day trading week, which saw the All-Share Index (ASI) and the market capitalisation growing by 1.22 per cent to 44,492.73 points and N24.234 trillion, respectively.

Similarly, all other indices finished higher with the exception of the insurance, consumer goods, energy, Lotus II and industrial goods indices, which fell by 1.34 per cent, 1.05 per cent, 0.84 per cent, 0.19 per cent and 0.66 per cent, respectively, while the ASeM, growth and sovereign bond indices closed flat.

Union Bank appreciated by 13.04 per cent to N6.50, GTCO rose by 10.83 per cent to N19.45, Nigerian Breweries jumped by 10.29 to N41.25, and Unilever Nigeria advanced by 10.00 per cent to N11.00.

However, SCOA Nigeria dropped 26.29 per cent to N1.29, Guinness Nigeria deflated by 18.96 per cent to N60.50, Regency Assurance declined by 14.81 per cent to 23 Kobo, Unity Bank contracted by 12.28 per cent to 50 Kobo, and Royal Exchange decreased by 11.36 per cent to 78 Kobo.

In the week, 31 stocks finished on the gainers’ log compared with 27 stocks of the previous week, 33 equities were on the losers’ chart versus 36 equities of the previous week, and 93 shares closed flat, in contrast to 94 shares of the earlier week.

On the activity chart, Business Post reports that traders exchanged 694.376 million shares worth N8.667 billion in 15,418 deals as against the 1.101 billion shares valued at N11.714 billion traded in 15,697 deals a week earlier, with financial stocks accounting for 487.150 million units worth N4.229 billion in 7,527 deals, contributing 70.16 per cent and 48.80 per cent to the total trading volume and value, respectively.

Equities in the conglomerates sector followed with 61.896 million units valued at N77.471 million in 396 deals, while stocks in the consumer goods industry recorded a turnover of 40.042 million units valued at N1.243 billion in 2,713 deals.

Access Holdings, Transcorp, and Fidelity Bank accounted for 232.923 million shares worth N1.237 billion in 1,316 deals, contributing 33.54 per cent and 14.27 per cent to the total trading volume and value, respectively