Nigeria’s equities market increased further by 0.70 percent on Wednesday as investors sentiment favoured insurance stocks like that of NEM Insurance Plc. The market’s return this year has risen to 41.67 percent, according to August 6 trading data. This week, the stock market has risen by 3.22 percent, while it’s up by 4.25 percent month-to-date (MtD).
Buy interests in insurances stocks like NEM, Axa Mansard, and Mutual Benefits also helped push the market higher. NEM Insurance rallied most after its share price rose from day-open low of N27 to N29.70, adding N2.70 or 10percent.
Looking at the major advancers shows that Haldane Mccall Plc rose from N4.40 to N4.84, adding 44kobo or 10 percent. Learn Africa was also up, from N5.70 to N6.27, adding 57kobo or 10 percent.