Nigeria Stock Exchange Watch: ASI (+0.21%) Recovers as Activity Accelerates in Insurance sub-Sector

The major news in the market today was not the fact that the market bucked its losing streak by the ASI gaining 0.21%, or that Nestle released pretty impressive Q3, 2012 results.

Analysts are wondering who is buying all the insurance stocks? Over 86 million units of insurance stock that are  normally illiquid have traded hands over the past two days. With the bulk coming in today, NEM (+36million), and Linkage (+35million).

Linkage also moved in excess of 15 million units yesterday.

We think this means there may be underground M & A activity going on across the industry. Call your broker.

The YTD performance on the bourse is 27.09%.

Related Posts

• 

  Over 1,000 firms bid for 2017 railway projects
  Over 1,000 firms bid for 2017 railway projects
• 

  NAICOM moves to enforce compulsory insurance of public buildings
  NAICOM moves to enforce compulsory insurance of public buildings
• 

  Reps ask NPA to reverse termination of agreement with Intels
  Reps ask NPA to reverse termination of agreement with Intels
• 

  SEC suspends Oando shares from stock market
  SEC suspends Oando shares from stock market