How Insurance companies’ price behaviour impacts on NGX Index Negatively

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The management of the Nigerian Exchange Group at this weekend on Thursday July15, 2021 released traded data on the Nigerian Exchange Limited showed Insurance dominated top 10 companies with Share Price Decliners which are: Consolidated Hallmark Insurance Plc, Coronation Insurance Plc, Custodian Investment Plc, Linkage Assurance Plc, Mutual Benefits Assurance Plc and Cornerstone Insurance Plc led the overall NGX All-Share Index and Market Capitalization to fell by 0.12% to close the traded week at 37,947.18 and N19.771 trillion respectively.

Others companies are Ikeja Hotel Plc, Unity Bank Plc, University Press Plc and FBN Holdings Plc

While, all other indices finished lower with the exception of NGX Banking, NGX AFR Div Yield, NGX MERI Growth, NGX Oil/Gas and NGX Sovereign Bond indices which appreciated by 0.09%, 0.32%, 0.15%, 1.81% and 0.64% respectively, while the NGX Premium, NGX ASeM and NGX Growth Indices closed flat


In the same vein, the total market turnover for the reporting period stood at 1.008 billion shares worth N10.923 billion in 17,297 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.348 billion shares valued at N12.140 billion that exchanged hands last week in 21,581 deals.


The Financial Services Industry by volume recorded 732.418 million shares traded valued at N7.213 billion traded in 9,131 deals; analysis further showed percentage of contributions stood at 72.62% and 66.04% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 52.931 million shares worth N170.271 million in 656 deals while ICT Industry recorded a turnover of 52.716 million shares worth N1.806 billion in 701 deals.


The most the top three traded equities for the week namely: Guaranty Trust Holding Company Plc, United Bank for Africa Plc and Zenith Bank Plc (measured by volume) accounted for 261.741 million shares worth N5.813 billion in 3,498 deals, contributing 25.95% and 53.22% to the total equity turnover volume and value respectively.


A total of twenty-nine (29) equities appreciated in price during the week, lower than Forty-four (44) in the previous week. Thirty-two (32) equities depreciated in price higher than Twenty-two (22) equities in the previous week, while ninety-five (95) equities remained unchanged higher than ninety (90) equities recorded in the previous week making a ratio of 61 to 95 active and non-active companies which is sign of weak performing market activities.


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