Shares of MTN, BUA Cement, others begin new week on negatives

MTN Nigeria and other top companies quoted on the Nigerian Stock Exchange are starting the new week on a negative note as their share price dropped at the close of trading last Friday.

The telecom giant’s share price, at the end of the trading week, depreciated by 6.93 per cent to close at N200.00 per share, taking its market capitalization to N4.07 trillion at the end of the trading sessions of the week.

MTNN Plc is the third-most capitalized company on the Nigerian Exchange Limited (NGX).

BUA Cement share price was down by 9.95 per cent at the end of the trading week to close at N52.95 from N58.8 last week. The market cap also depreciated by N198.11 billion to close at N1.73 trillion.

Dangote Cement Plc share price dropped from N265 to N258.8, showing a 2.34 per cent decline. This means that the company lost N105 billion at the end of the trading week as market capitalization declined from N4.52 trillion in the previous week.

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The company, which is a competitor of BUA Cement Plc and Wapco Plc, and the most capitalized cement producer on the NGX, has a total market capitalization of N4.69 trillion as at market close this week.

Dangote Cement Plc is currently the second most-valued company quoted on the exchange and makes up roughly 22 per cent of the total market capitalization of all stocks worth over one trillion.

Meanwhile, BUA Foods Plc share price was valued at N59.95 at the end of the trading week from N54.5 last week. As a result, the share price jumped from N981 billion last week to close the week at N1.08 trillion.

With the addition of N98 billion, a 10 percent increase, BUAFOODS has again joined the trillion naira worth of stocks.

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Airtel Africa Plc’s share price remained unchanged to stand at N1,905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion.

Airtel Africa Plc ended the week as the most capitalized company on the exchange once again, leading the SWOOTs strongly, with MTNN, its competitor and third-most capitalized stock, far behind.

Nestle Nigeria Plc’s share price stood unchanged to close the week at N1,300.00 per share, amidst sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods Company currently has a market capitalization of N1.03 trillion.