Telecom giant, MTN Nig Plc, has emerged as the most capitalized stock on the floor of Nigerian Exchange Group (NGX), surpassing its industry peer, Airtel Africa Plc by N63 billion to stand at N5.32 trillion.
Airtel Africa Plc with a market capitalization of N5.26 trillion and Dangote Cement Plc with a market capitalization of N5.11 trillion, have emerged as the second and third most capitalized stocks on The Exchange, respectively.
MTN Nigeria Plc closed the week on a positive note, appreciating by 15 per cent in share price week-on-week, from N227.50 to end the week at N261.60 per share. This increased the company’s market cap by a whooping N694 billion during the week.
The telecom giant recorded gains in share price, attributable to investors’ positive sentiments, which triggered buy-interests in the shares of the company, supporting a gain of N694 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.
The buy-interests witnessed in the shares of MTNN positively influenced the company’s market capitalization from N4.63 trillion to N5.32 trillion at the end of the week’s trading activities.
The growth in the company’s market capitalization also influenced the NGX Premium Board Index, which the company’s shares trade under, as the index appreciated by 3.83 per cent during the week from 5,097.38 points to 5,292.40 points.
