The Nigerian Stock Exchange All-Share Index dropped by 0.02 per cent at the close of trading on Wednesday after 13 stocks closed in the red compared to 24 that appreciated. Profit-taking in large-cap stocks ― International Breweries Plc, FBN Holdings Plc and United Bank for Africa ― was said to have caused the ASI to drop by two basis points to 32,375.12 bps. The market capitalisation of listed equities fell to N11.819tn from N11.821tn on Tuesday. A total of 190.353 million shares worth N1.773bn exchanged hands in 2,780 deals on Wednesday. The equities market continued on its downward trend, after gaining N65bn on Tuesday. The year-to-date loss settled at 15.3 per cent, with the NSE market value and the volume of transactions declining by 33.2 per cent and 29.6 per cent, respectively.The highest gainers on Wednesday were Forte Oil Plc, Cement Company of North Nigeria Plc, Regency Assurance Plc, Sovereign Trust Insurance Plc and Prestige Assurance Plc, which appreciated respectively by 10 per cent, 9.73 per cent, 9.09 per cent, 9.09 per cent and 8.77 per cent. On the other hand, the losers’ chart was topped by AXA Mansard Insurance Plc, Capital Oil Plc, PZ Cussons Nigeria Plc, Consolidated Hallmark Insurance Plc and International Breweries Plc, which declined by 9.65 per cent, eight per cent, 7.41 per cent, 6.25 per cent and 6.25 per cent, respectively. Read more:
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