Dangote Cement, Zenith, UBA Extend NSE Losses By N425.9bn

The Nigerian Stock Exchange has extended its loss by N425.9bn on Wednesday, the worst daily loss posted in 2021.

With the record plunge, the Stock Exchange has lost N897.9bn in February, after losing N472bn in the last 7 years.

Sell-offs in Dangote Cement shares by 7.4 per cent, Zenith Bank by 3.1 per cent, and UBA by 6.9 per cent dragged the Market Capitalisation to settle at N21.289trn.

The NSE All-Share Index dipped 1.96 per cent to 40,696.01 points, while year-to-date return fell to 1.1 per cent.

The volume of activity traded rose by 19.9 per cent to 366.9million units, while the value surged 38.7 per cent to N5.5bn.

The NSE most traded stocks by volume during the trading session were Zenith Bank shares with 43.7 million units, First Bank Holdings traded 40 million units and Guaranty also traded 36.0 million units.

On sectoral performance, the Industrial Goods and Banking indices lost 3.7 per cent and 3.4 per cent respectively following the sell-offs in WAPCO by 2.6 per cent, Zenith (-3.1 per cent) and Guaranty (-1.5 per cent).

The Insurance and Consumer Goods indices fell 1.2 per cent and 0.4 per cent respectively.