Adepeju Adenuga Published 7 August 2021The total claims paid by sixteen insurance companies in the country rose by 36.48 per cent in the first half of this year from N49.18bn in the same period of 2020.An analysis of data collated by our correspondent from the companies’ unaudited financial statements showed that they paid policyholders N67.12bn in claims in H1 2021.The PUNCH had reported in July that the Commissioner for Insurance, Mr Sunday.
Goddy Egene
Both volume and value of trading at the stock market fell last week as investors continued with profit-taking and cautious approach while waiting for the release of half year corporate results.
The volume of trading fell by 25 per cent from 1.348 billion shares worth N12.140 billion to 1.008 billion shares valued at N10.923 billion. Also the Nigerian Exchange (NGX) Limited All-Share Index (ASI) declined by 0.12 per cent to close at 37,947.18, while market capitalisation shed N24.5 billion to be at N19.771 trillion.
After declining the previous week, the bearish sentiments persisted last week for the second consecutive week, as investors booked profits on bellwether stocks. They were also cautious by investors as they await the release of Q2-21 earnings. However, while investors are eagerly waiting for the performance of companies, United Capital Plc on Wednesday announced its results for H1.
The stock market extended its positive performance yesterday as gains in bellwether counters pushed the Nigerian Exchange (NGX) Limited All-Share Index (ASI) by 0.5 per cent to close at 38,418,04. Similarly, market capitalisation added N103.2 billion to close at N20.026 trillion. The market, which rebounded last week had opened the week with a marginal gain of 0.02 per cent on Monday.
However, the positive trend was sustained yesterday as investors swooped on interim dividends paying firms such as Seplat Energy Plc, Zenith Bank Plc and Access Bank Plc. In all, 28 equities appreciated compared with 10 stocks that depreciated.
Market analysts had envisaged a bull market, saying expectations for half-year (H1) earnings seasons would retain the market in the bulls’ territory as investors position for interim dividends.
Goddy Egene
The value of the Nigerian equities declined below the N20 trillion mark last week to N19.627 trillion, following sustained profit taking in bellwether counters.
The market, which had declined by 1.30 per cent the previous week, posted another depreciation last week with the Nigerian Exchange (NGX) Limited All-Share Index falling by 2.56 per cent to close at 37,658.26, while market capitalisation shed N516 billion to close at N19.627 trillion.
The bears dictated proceedings in the local bourse in four of the five days while sell-offs in Airtel Africa Plc, Dangote Cement Plc, BUA Cement Plc and MTN Nigeria Plc pushed the market capitalisation below N20 trillion for the first time this year.