MTN Shop
MTN Plc share price dips by 1.34%, takes market value down by N50.89bn
MTN Plc share price dips by 1.34%, takes market value down by N50.89bn
At the end of today’s trading session on the Nigerian Stock Exchange (NGX), MTN Nigeria Plc share price dropped by 1.34% to close at N183.50 per share, taking the market capitalization from N3.77 trillion to N3.74 trillion.
The telecoms leader, today recorded a decrease in share prices which can be attributed to investors’ negative sentiment which triggered sell-pressures in the shares of the company supporting a loss of N50.89 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted company declined from N186.00 per share at the start of the trading day to N183.50 per share, the lowest price traded at the close of the market, to represent a decline of 1.34% which in monetary terms is N2.50.
The sell pressure witnessed in the shares of MTNN Plc negatively influenced the company’s market capitalization from N3.77 trillion to N3.74 trillion at the end of today’s trading activities, taking the loss to N50.89 billion.
The shares of MTNN Plc have gained 8.00% from year-to-date, starting the year at N169.90 and currently traded at N183.50. However, the shares of the company have returned about 16.88% gains for investors who bought them at their 52-week low trading price of N157.00 per share.
During today’s trading hours, 1,743,757 ordinary shares of MTNN Plc worth about N319.82 million, were exchanged in 115 executed deals.
In comparison, the shares of Airtel Plc closed flat at N955.00, at the end of today’s trading session.
At the end of today’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.34% from the previous trading day, to close at 42,244.22 index points and N22.05 trillion respectively.
The NGX Industrial Goods Index appreciated by 0.02% to close the day at 2087.88 from 2087.55 index points.
Recall that MTN in November announced that it was making 575 million of its shares available to the public at N169 per unit.
Sales opened at 8:00 am on December 1 and closed at 5:00 pm on December 14. It is the first time the company would invite subscription from the public nearly two years after it debuted on the Nigerian Exchange Limited (NGX).
