NSE All-Share Index drops further

Trading on the Nigerian Stock Exchange continued on a low ebb on Wednesday, with the All-Share Index dropping further by 0.51 per cent.
The News Agency of Nigeria reports that the index shed 132.69 points or 0.51 per cent to close at 25,903.55 points as against 26,036.24 points recorded on Tuesday.
This could be attributed to losses recorded by major blue chips.
Market capitalisation, which opened at N8.97 trillion, lost N45 billion to close at N8.93 trillion.
NAN reports that Nestlé, for the second consecutive day, topped the losers’ chart with a loss of N27.01 to close at N699.99 per share.
Total came second with a drop of N12.01 to close at N278 per share and Seplat declined by N9.89 to close at N370.11 per share.
Nigerian Breweries lost N4.95 to close at 134.85 and Forte Oil decreased shed N3.56 to close at N67.66 per share.
Conversely, Mobil recorded the highest to lead the gainers’ table, appreciating by N5 to close at N275 per share.
Lafarge Africa chalked up N3.39 to close at N44.40 and Dangote Cement garnered N2 to close at N168 per share.
Access Bank improved by 20k to close at N6.80, while NASCON grew by 13k to close at N8 per share.
Med-View Airline was the toast of investors in volume terms at the trading, with a total of 72.47 million shares valued at N109.17 million.
Paint Company of Nigeria followed with an exchange of 58.66 million worth N61.59 million, while Diamond Bank accounted for 43.13 million shares valued at N40.64 million.
Staco Insurance traded 20 million shares worth N10 million, while investors staked N16.55 million on Fidelity Bank’s 18.35 million shares.
The volume of shares traded rose by 48.23 per cent as investors bought and sold 305.02 million shares valued at N1.57 billion transacted in 2,620 deals.
This was against the 205.77 million shares worth N2.76 billion achieved in 2,914 deals on Tuesday.