Capital

Mutual Benefits Assurance Shares Appreciates By 50%

BY OUR REPORTERS—Shareholders of Mutual Benefits Assurance Plc were in a happy mode last week as the equity value of the company rose by 50 per cent, closing at 42 kobo per unit.

The share price of the insurer was the second on the weekly gainers’ chart in the second trading week of 2021, behind Japaul Gold & Ventures Plc, with a 56.70 per cent increase to close at N1.52 per share.

Nigeria’s oldest insurer, Royal Exchange came third with a 47.83 per cent gain to trade at 34 kobo per unit followed by Axa Mansard Insurance which appreciated by 34.45 per cent to close at N1.60 per unit.

At the close of trading on Friday All-Share Index of the Nigerian Stock Exchange (NSE) appreciated by 2.63 per cent to close at 41,176.14 while market capitalisation was N21.530 trillion.

Investors traded 3.5 billion shares worth N32.7 billion in 30,327 deals at the close of trading when compare to the 3.4 billion shares valued at N19.9 billion transacted in 26,808 deals a week earlier.

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