Equities on the Nigerian stock market recorded mixed performance during the week, with several insurance, oil and industrial stocks posting strong gains while a number of banking and manufacturing counters declined.
At the top of the gainers’ chart was Fortis Global Insurance Plc, whose share price surged by 58.51 percent to close at N1.49. The insurance stock led the rally as investors showed increased appetite for low-priced equities with strong upside potential.
Premier Paints Plc followed with a 32.73 percent increase to N14.60, while Eterna Plc gained 28.72 percent to settle at N42.35 amid renewed interest in oil marketing companies.
Shares of Nigerian Exchange Group Plc also advanced by 21.73 percent to N150.95, reflecting sustained investor confidence in the bourse’s parent company.
Similarly, UACN Plc rose by 20.63 percent to close at N115.80, while Custodian Investment Plc appreciated by 20.44 percent to N81.90.
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Other notable gainers included Sovereign Trust Insurance Plc, which climbed 20.36 percent to N2.66, and Aradel Holdings Plc, which increased by 19.96 percent to close at N1,300.40.
Oil and gas firm Oando Plc also recorded strong performance, rising 18.90 percent to N49.70, while UH Real Estate Investment Trust completed the list of top gainers with a 9.96 percent rise to N76.15.
Top losers
On the flip side, several stocks ended the week in negative territory, led by McNichols Plc, which declined by 24.44 percent to N6.40. Mecure Industries Plc dropped 18.92 percent to close at N61.50, while Multiverse Mining and Exploration Plc fell by 18.72 percent to N18.45.
Banking stock Jaiz Bank Plc lost 18.45 percent to close at N10.30, and Omatek Ventures Plc declined by 15.38 percent to N2.20. Other laggards included Africa Prudential Plc, which shed 15.32 percent to N15.20, and Cutix Plc, down 13.39 percent to N3.30.
Shares of Dangote Sugar Refinery Plc also slipped by 12.66 percent to close at N72.45, while AXA Mansard Insurance Plc declined 10.33 percent to N16.50.
Rounding out the list of the week’s worst performers was Chams Holding Company Plc, which dropped 10 percent to settle at N4.05.
