Vanguard News
Insurance experts seek policies to grow real sector
On
INSURANCE
Experts in the insurance and pension sectors have called for policies that will facilitate the investment of insurance and pension funds in sectors such as manufacturing, agriculture and aviation.
The experts who spoke at the 5th conference of the National Association of Insurance and Pension Correspondents (NAIPCO) themed, “Promoting Bankable Investments Portfolio for Insurance and Pension Sectors,” noted that there is need for the real sectors of the economy to have access to insurance and pension funds to finance their operations.
Chairman, Nigeria Social Insurance Trust Fund, (NSITF), Mr. Austin Enajemo-Isire, said there is an urgent need to consider alternative strategies to retool the economy for survival and growth.
Mutual Benefits to raise N4 8b - The Nation Newspaper
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All-Share Index grows by 1 7% as trading resumes
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By Goddy Egene
The year-to-date (YTD) growth of the Nigerian Stock Exchange (NSE) All-Share Index (ASI) hit 32.2 per cent yesterday on the back of the continued bull run.
The market has recorded positive performance in the past three days with the NSE ASI gaining 0.76 per cent to close at 35,493.15.
The sustained gains have boosted the YTD growth to 32.2 per cent. Also, the market capitalisation added N 140 billion to close at N18.6 trillion.
The positive performance yesterday was buoyed by buying interest in bellwethers such as Nestle Nigeria Plc, Zenith Bank Plc, and Guaranty Trust Bank Plc. In all, 26 stocks appreciated while 13 stocks depreciated. AXA Mansard Insurance Plc led the price gainers with 10 per cent, trailed by May & Baker Nigeria Plc with 9.8 per cent. NCR Nigeria Plc garnered 9.6 per cent, just as University Press Plc went up 9.2 per cent
TODAY
December 14, 2020
The equities market shed N463.7 billion last week as the bullish streak was halted by persistent profit taking. Following the unprecedented growth recorded in the month of November, many investors have been locking in profits. Despite the pockets of profit taking, the market had maintained a positive weekly performance.
However, that positive momentum could not be sustained last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 2.5 per cent to close at 34,250.74. Similarly, market capitalisation shed N463.7 billion to be at N17.902 trillion. The year-to-date (YTD) growth moderated to 27.6 per cent.
Although the profit taking is expected to continue, analysts remained optimistic, saying the market still offers better investment alternative.