MTN Nigeria Plc recorded a loss of N102 billion in market value at the end of Thursday’s trading to rank among the losers of the day.
According to report, MTN Nigeria’s share price depreciated by 2.27% to close at N215.00 per share, taking the market capitalization to N4.367 trillion from the N4.477 trillion it closed the previous day.
Negative sentiment: The decline in share prices which was recorded by the brewer can be attributed to investors’ negative sentiment which triggered sell-offs plunging the company’s value down as build-up to the 2023 election and interest rate hike continued to impact negatively on the market.
Hence, the sell-pressures in the shares of the company resulted in a loss of N102 billion in market capitalization at the close of trading activities on the Nigeria Exchange.
