The Guinea Insurance Plc shares have been suspended from trading since August 12, 2024 as per Nigerian Exchange Ltd. (NGX). The decision comes after submission of the company’s audited financial statements for the year ending December 31, 2023.
Trading in Guinea Insurance Plc securities had been earlier suspended by NGX on July 8, 2024 due to non-compliance with filing requirements. However, this suspension was lifted with the presentation of required accounts citing compliance with Rule 3.3 of Default Filing Rules.
Market Performance:
The NGX All-Share Index and Market Capitalization declined by 1.51% to settle at 97100.31 and N55132 trillion respectively, leading to a loss of N846 billion for the investors.
Sector Performances:
- – NGX Insurance, NGX Consumer Goods, NGX Oil and Gas, NGX Lotus II and NGX Growth indices gained 0.79%, 0.37%, 5.25%, 0.42% and 6.14% respectively
- – NGX ASeM index remained unchanged
Top Gainers and Losers:
- – RT Briscoe was the top gainer with an increase of 33.86% to N1.70 per share
- – On the other hand, Cutix Plc was the biggest loser declining by N1.05 to N4.95 per share.
Trading Activity:
- – Total shares traded: 2.033 billion worth N42.155 billion in 45,157 deals
- – The trading activity remained concentrated in the Financial Services Industry while Oil & Gas and Services sectors followed suit.
Analysts Insights:
According to Cowry Asset Management Ltd analysts, next week’s market performance will be mixed due to portfolio rebalancing coupled with profit taking exercise. Investors should, therefore, concentrate on fundamentally strong companies.
