Telecommunications giant MTN Nigeria was among the equities that suffered heavy losses on Monday on the Nigerian Exchange (NGX), as a total of 996,761,214 shares were traded in 61,751 deals, with a market value of N43.7 billion, News.ng reports.
Monday’s trading was an improvement compared with Friday’s session, as trading volume increased by 157%, turnover improved by 138%, and the number of deals rose by 39%.
According to market data, the current market capitalization of the NGX stands at N146.5 trillion (USD 106 billion).
Out of the 132 listed companies traded on Monday, only 12 recorded gains, while 49 posted losses.
Among the gainers, Regency Alliance Insurance gained 8.86% to close at N0.86 per share. UPDC recorded a 7.79% gain to close at N3.50 per share. Others included Coronation Infrastructure Fund, which gained 5.45% to close at N116.00 per share, while Sovereign Trust Insurance rose 4.08% to close at N2.04 per share.
On the losers’ chart, telecommunications giant MTN Nigeria recorded the biggest loss, with its share price declining by 10% to close at N747.00 per share. Unilever Nigeria also posted a 10% loss, closing at N126.00 per share.
Others included Learn Africa, whose share price depreciated by 10% to close at N9.00 per share, while Abbey Bank lost 9.94% to close at N7.25 per share.
Meanwhile, Ikeja Hotel recorded the highest trading volume, with 306 million shares traded, followed by Access Holdings, with 290 million shares. Dangote Sugar Refinery recorded 29.4 million shares traded, while Chams recorded 22 million shares traded.
