Punch Newspapers
Sections
Nike Popoola
Sovereign Trust Insurance Plc has said it paid N2.9bn claims to various insured spread across the country in 2020.
The company disclosed this in a statement by its spokesperson and Head of Sales and Corporate Communications, Mr Segun Bankole, on Sunday titled ‘Sovereign Trust Insurance Plc commits to claims payment: Pays N2.9bn in 2020’.
Bankole stated that the claims experienced in 2020 showed that the company paid claims that emanated from the civil commotion in the country occasioned by the
#EndSARS protests in major parts of the country.
He said a significant number of customers had come to appreciate the role of insurance in their everyday life, which increased the claims paid.
By Goddy Egene
The stock market surged further yesterday with the Nigerian Stock Exchange (NSE) rising 1.21 per cent to close at 41,584.94 as companies begin to release their unaudited financial results for the year ended December 2020.
Apart from the benchmark index that appreciated, market capitalisation added N259.4 billion to close at N21.8 trillion. Similarly, activity level advanced as volume and value traded rose 40.5 per cent and 110.8 per cent to 467.9 million shares and N5.6 billion respectively.
The bulls were in total control of the session yesterday as 32 stocks appreciated, while 19 depreciated. Although gains by Airtel Africa Plc, MTN Nigeria Plc and Lafarge Africa Plc influenced the rise in the NSE ASI, RT Briscoe Nigeria Plc led the price gainers’ table with 10 per cent.
Stock market gains N50bn on blue-chip firms
Johnson Okafor
Equity trading on the floor of the Nigerian Stock Exchange on Wednesday closed on a positive note with a gain of N50bn to halt the previous two days’ losses.
The NSE All-Share Index appreciated by 0.23 per cent with market breadth closing positive with 55 gainers as against 16 losers.
The ASI gained 96.09 basis points or 0.23 per cent to close at 41,147.72 as against 41,051.63 recorded the previous day while the market capitalisation of equities appreciated by N50bn or 0.23 per cent to close at 21.52tn from N21.47tn as market sentiment returned to the green zone.
Goddy Egene
The stock market rebounded last week recording a gain of N552 billion after declining in the first week of the year.
After posting a record growth in 2020, profit-taking by investors made the market close with a decline of 0.37 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and N78.7 billion in market capitalisation in the first week.
However, the market recovered in the second week with the market capitalisation adding N552 billion to close at N21.530 trillion while the NSE ASI rose by 2.63 per cent to be at 41,176.14. The growth followed renewed demand by investors who are cherry-picking stocks with attractive dividend yields ahead of full year 2020 dividend declarations.
Goddy Egene
The bulls consolidated their hold on the market yesterday as buying interests in Dangote Cement Plc, MTN Nigeria Plc and Seplat Petroleum Development Company Plc lifted the benchmark index further.
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose by 1.54 per cent to close at 40,963.14, while market capitalisation rose by N325.3 billion to close at N21.4 trillion.
Also, volume and value of trading rose 72.9 per cent and 27.9 per cent respectively to 809.4 million shares and N8.9 billion. Year-to-date, the NSE ASI has gained 1.7 per cent.
The bulls clearly dominated the market as 49 stocks gaineds compared with seven price losers. Champion Breweries Plc led the price gainers with 9.8 per cent, trailed by NASCON Allied Industries Plc with 9.7 per cent. Japaul Gold Ventures Plc and AXA Mansard Insurance Plc chalked up 9.4 per cent apiece.