Nigerian Stock Market Adds ₦71bn As Insurance Stocks Keep Investors Interested

• Nigerian equities market adds ₦71 billion as buying interest in insurance stocks keeps the benchmark index in positive territory.

• LINKASSURE, AVACAP and FTGINSURE lead the gainers’ chart, while losses in Honeywell Flour, PZ and ZICHIS weigh on market breadth.

• Market closes with 20 gainers against 30 decliners as investors continue rotating across sectors while major bellwether stocks finish unchanged.

August 5, () — Nigeria’s equities market closed marginally higher on Wednesday as sustained buying interest in insurance stocks helped offset losses in selected consumer goods counters, with investors adding approximately ₦71 billion to market value.

The Nigerian Exchange (NGX) All-Share Index (ASI) advanced by 109.41 points, or 0.04 per cent, to close at 244,912.24 from 244,802.83 recorded in the previous session.

Similarly, market capitalisation rose from ₦158.015 trillion at the opening of trading to ₦158.086 trillion at the close, reflecting a gain of about ₦71 billion.

Market breadth closed negative as 20 stocks appreciated against 30 decliners, indicating that gains in a handful of counters were enough to keep the benchmark index in positive territory despite broader selling pressure.

Insurance stocks again featured prominently among the session’s top performers, extending the sector’s recent momentum.

Top 5 Gainers

• LINKASSURE gained 9.94 percent (moving from ₦1.61 to ₦1.77).
• AVACAP gained 9.55 percent (moving from ₦9.95 to ₦10.90).
• FTGINSURE gained 7.69 percent (moving from ₦2.60 to ₦2.80).
• MCNICHOLS gained 7.34 percent (moving from ₦5.45 to ₦5.85).
• WAPIC gained 5.51 percent (moving from ₦2.36 to ₦2.49).

Top 5 Decliners

• HONYFLOUR declined by 9.94 percent (falling from ₦18.10 to ₦16.30).
• PZ declined by 9.94 percent (dropping from ₦83.00 to ₦74.75).
• ZICHIS lost 9.74 percent (slipping from ₦23.00 to ₦20.76).
• LEARNAFRCA shed 9.62 percent (falling from ₦10.40 to ₦9.40).
• NEIMETH declined by 8.33 percent (easing from ₦9.00 to ₦8.25).

Meanwhile, MTN Nigeria Communications, Dangote Cement, HBM Nigeria, Custodian Investment, U.A.C.N Plc, Presco Plc and several other stocks closed unchanged for the session.

Analysts said the market continues to witness sector rotation, with investors maintaining interest in insurance counters while selectively taking profits in consumer goods and other recently appreciated stocks. Market participants are expected to monitor corporate disclosures and earnings releases for fresh catalysts that could shape trading direction in the coming sessions.