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    Wednesday, June 24

    MTN Nigeria Rallies Softly on Huge Shares Volume

    Julius AlagbeBy Updated: Analysis No Comments1 Min Read
    MTN Nigeria Rallies Softly on Huge Shares Volume

    MTN Nigeria Rallies Softly on Huge Shares Volume

    MTN Nigeria Plc’s market value increased by 251 basis points, or 2.51%, to N5.143 trillion on Thursday following a mild rally on the Nigerian Exchange (NGX) trading platform. Telecom companies are coming out from a rough macroeconomic patch that emanated from the devaluation of the Nigerian naira—majorly.

    According to data from the NGX trading platform, MTN Nigeria’s share price inched higher from N239 to N245, a floor that the telecom stock has been unable to breach since its loss-making spree.

    The soft rally, in spite of huge share volume traded, lifted MTN Nigeria’s market value to N5.143 trillion, as trading records showed that 5,851,356 units valued at N1.422 billion exchanged hands, driving the uptick.

    In its regulatory filing, the telecom company announced 2365 units have each been credited to some key staff. The market anticipates MTN earnings will come in strong in the first quarter of the year.  # MTN Nigeria Rallies Softly on Huge Shares Volume. #MTN Nigeria Rallies Softly on Huge Shares Volume#

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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