NSE witnesses upturn as insurance stocks top gainers’ chart

The Nigerian Stock Exchange closed at 32,417.82 basis points, up 0.11%. Year to date, the index is down  15.23%.

Top gainers and loser

Niger Insurance was the best performing stock in today’s session. The stock closed at N0.33, up 10%. Prestige Assurance was next with an 8.33% gain to close at N0.52. Flour Mills of Nigeria closed at N21.95, up 7.60%.

On the flip side, the Initiates Plc was the worst performing stock today. The stock closed at N0.65, down 9.68%. Continental Reinsurance closed at N1.35, down 9.40%. McNichols Plc closed at N0.59, down 9.23%.

Top Trades by volume  

The top traded stocks were from the banking sector. Guaranty Trust Bank was the most actively traded stock today. 48.7 million shares valued at N1.7 billion were traded in 237 deals.

Fidelity Bank was next with 13.8 million shares valued at N26.3 million in 136 deals. FCMB Plc rounds up the top three most traded with 11.1 million shares valued at N18.7 million traded in 133 deals.

Corporate Actions

Flour Mills of Nigeria Plc

The company in a notice sent to the Nigerian Stock Exchange (NSE) stated that it was applying for an electricity generation license. The license would enable the firm to operate a 70MW power plant, located in Apapa, Lagos State.