Consolidated Hallmark Insurance
Stock market gains N138 billion despite profit taking
The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week. Precisely, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.7 per cent to close at 35,137.99, while market capitalisation gained N137.5 billion to print at N18.365 trillion. Apart from the NSE ASI index that appreciated, NSE Insurance, NSE ASeM and NSE Oil/Gas indices also went up by 2.61 per cent, 1.56 per cent, 0.19 per cent and 1.71 per cent respectively. Although the gains recorded in the market in November was expected to propel profit taking, some market analysts are still upbeat that the bulls would remain in control till the end of the year. “With the low yield environment in the fixed income space and investors’ cor...
Transactions close flat on NSE
Trading at the nation’s bourse closed flat on Wednesday with the All-Share Index (ASI), which opened at 24,174.45, closing at 24,173.53. Newsmen report that the ASI dropped by just 0.92 points or 0.004 per cent. Similarly, the market capitalisation lost one billion naira to close at N12.610 trillion against N12.609 trillion recorded on Tuesday. The marginal downturn witnessed in the market was due to losses in GlaxoSmithKline, Africa Prudential, Caverton, Sterling Bank and Consolidated Hallmark Insurance. Analysts at APT Securities and Funds Limited urged investors to position in fundamentally justified stocks. They noted that the market was set to rally in response to impressive half year earnings results. Eterna dominated the gainers’ chart in percentage terms, gaining 8.89 per cent, to ...
