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#
