Stock Market: NEM Insurance Closed 2020 With 31.62 Percent Gain

Stock Market: NEM Insurance Closed 2020 With 31.62 Percent Gain – NEM Insurance Plc led the top gainers’ chart in the last week of 2020 with a 31.62 percent gain as the Nigerian Stock Exchange closed the year with a 50.3 percent gain.

During the four days trading week, investors traded total shares of 1.806 billion valued at N25.966 billion in 14,634 transactions, against a total of 2.756 billion shares worth N40.311 billion exchanged in 17,459 deals in the previous week.

In terms of volume traded, the financial services industry led the activity chart with 1.266 billion shares estimated at N7.630 billion but exchanged hands in 7,251 transactions. The financial services industry contributed 70.07 percent and 29.38 percent to the total equity turnover volume and value traded, respectively.

This was followed by the oil and gas industry with 193.541 million shares valued at N783.214 million carried out in 1,093 transactions. The consumer goods industry came third with a turnover of 117.755 million shares estimated at N1.050 billion shares in 2,116 transactions.

AIICO Insurance Plc, Access Bank Plc and United Bank for Africa Plc were the three most traded equities during the week with a combined 763.173 million shares worth N3.029 billion in 1,764 deals and accounted for 42.25 percent and 11.67 percent of the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange All-Share Index gained 3.79 percent to close the week at 40,270.72 index points while the market value of the Exchange expanded by 3.83 percent to N21.057 trillion.

Accordingly, all other indices finished higher with the exception of NSE Banking, AFR Bank Value, and Consumer Goods which declined by 0.56 percent, 0.02 percent and 0.50 percent while the NSE ASeM and NSE Growth Indices closed flat.