The Nigerian Exchange on Thursday reflected a quiet reordering of investor priorities, with insurance counters outperforming the banking sector and drawing increased interest from retail participants seeking affordable opportunities.
The banking segment stayed largely subdued. UBA fell 0.62 per cent after trading 5.73 million shares across 693 deals, while Zenith Bank shed 0.08 per cent, posting 20.33 million shares in 948 transactions. Minor declines were also recorded in Ecobank Transnational Inc., Fidelity Bank, and GTCO, which fell 0.44 per cent. Combined, the sector achieved a market capitalisation of N1.66tn, driven by 55.74 million shares traded.
Insurance stocks, meanwhile, demonstrated noteworthy strength. NEM Insurance led the gains with a 6.60 per cent rise to N26.65 per share. Regency Assurance gained 6.12 per cent, Sovereign Trust Insurance advanced 4.69 per cent, Prestige Assurance rose 4.29 per cent, and AIICO Insurance added 2.63 per cent. The segment saw 47.07 million shares change hands across 1,236 deals—an indication of expanding retail participation. Analysts attribute the momentum to the appeal of lower-priced stocks that provide easier entry points and potential short-term upside.
Performance in other financial institutions was mixed. Access Holdings slipped 0.49 per cent, First Holdco dropped 1.10 per cent, United Capital declined 0.86 per cent, and FCMB slid 0.45 per cent. Nonetheless, activity in this category remained strong with over 82.4 million shares traded.
In other sectors, MTN Nigeria lifted the telecommunications index with a 4.91 per cent increase to N495.70 per share, while Legend Internet jumped 8.91 per cent. Consumer goods counters also enjoyed gains: Nigerian Breweries rose 7.57 per cent, PZ Cussons rallied 9.36 per cent, and Berger Paints surged 9.88 per cent. However, BUA Foods and Guinness Nigeria recorded no price movement. Industrial goods and the oil and gas sectors remained largely stable, backed by flat performances from Dangote Cement, Seplat Energy, and Aradel Holdings.
The All-Share Index ended the day higher, buoyed by advances in the insurance, telecoms, and consumer goods sectors. Analysts say this growing shift toward lower-priced equities suggests retail investors may be prioritising liquidity and value over the traditionally dominant banking stocks amid ongoing market volatility.
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