The market capitalisation of
shares belonging to MTN Nigeria on the Nigerian Stock Exchange dropped by N30.5
billion at the end of the trading on Wednesday.
MTN’s shares, which opened at
N140 per share, lost N1.50 to close at N138.50.
The telecommunications company,
which is Nigeria’s largest, announced in a statement on Wednesday that all its
offices and service centres will be closed till further notice to avoid
reprisal attacks on its facilities.
There have been attacks and
demonstrations at MTN offices to protest violence being carried out against
Nigerians living in South Africa.
In total, the market
capitalisation which opened at N13.420 trillion lost N130 billion to close at
N13.290 trillion.
In the same vein, the all-share
index (ASI) dipped 267.15 points to 27,319.64 compared with 27,586.79 achieved
on Tuesday.
The downturn was impacted by
losses recorded in medium and large capitalised stocks, among which are Nestle
Nigeria, Guinness Nigeria, Dangote Cement, Forte Oil and MTN Nigeria.
At the close of trading, there
were 10 gainers against 18 losers.
Guinness dominated the losers’
chart with a loss of 9.90% to close at N37.30 per share.
Ikeja Hotel followed with a
decline of 9.79% to close at N1.29, while Forte Oil declined by 9.73% to close
at N14.85 per share.
UPDC Real Estate Investment Trust
lost 9.26% to close at N4.90, while Eterna shed 5.36% to close at N2.65 per
share.
Conversely, UACN recorded the
highest price gain of 9.89%, to close at N5 per share.
The total volume traded fell by
14.93% as investors bought and sold 250.45 million shares valued at N3.19
billion in 3,219 deals.
This was in contrast with a
turnover of 294.41 million shares worth N3.49 billion traded in 3,337 deals,
Tuesday.
Transactions in the shares of
Access Bank topped the activity chart with 81.85 million shares valued at
N542.31 million.
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