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NSE: Insurance stocks lead gainers as the Nigerian bourse closes bearish

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Investors lost N56bn as stock market resumes losing streak

The Nigerian Stock Exchange (NSE) closed bearish again in Wednesday’s trading, losing more than it has gained this week. The bourse All Share Index dropped by 0.58% to 26,223.66 basis point, year to date, the market is down by 16.57%.

Top 5 gainers

Cornerstone Insurance led the gainers’ bandwagon with a 8.89% to close at N0.49. The stock, which was part of our watchlist has witnessed several gains since last week.

Law Union and Rock Insurance followed with a gain of 8.70% to close at N0.50. LASACO Assurance gained 3.85% to close at N0.27.

Transcorp had a 3.03% gain to close at N1.02. FCMB rounds up the top 5 gainers with a 1.75% gain to close at N1.74.

Top 5 losers

Presco took the lead on the losing side with 9.90% loss to close at N34.60. International Breweries followed with 9.69% to close at N10.25.

McNichols closed at N0.42, losing 8.70%. Fidelity Bank lost 6.88% to close at N1.76.

Wapic Insurance took the least hit among the top 5 losers of 5.88% to close at N0.32.

Top 5 trades

Wednesday’s trading session witnessed 232 million share worth N3.1 billion traded in 3,171 deals.

UBA top the lead among most traded stocks with 59 million shares valued at N371.5 million traded in 211 deals.

Access Bank traded 45.6 million shares valued at N378.1 million in 304 deals. 26.5 million Zenith Bank shares valued at N459.4 million were traded in 426 deals.

19.7 million GTBank shares worth N514.97 million exchanged hands in 215 deals. Transcorp rounds it up with 13 million shares valued at N13 million traded in 39 deals.

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