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Headline : Airtel Africa’s investors lose N826 billion in day trading as sell pressure intensifies

Read more from the original article on here at nairametrics.com.






Tags : #airtel #africas #investors #lose #n826 #billion #day #trading #sell #pressure #intensifies


No. of Paragraph 27

Investors of Airtel Africa Plc, one of the major telecommunications companies quoted on the Nigerian Exchange Group Plc (NGX), recorded a loss of about N826 billion at the end of Monday’s trading session as the domestic bourse came under sell pressure.

The market returned to a losing streak after recording significant gains on Friday as the benchmark index weakened by 0.89% to close at 98,703.68 points.

The loss: Checks by Nairametrics showed that the telecom stock dropped by 10% to close at N1,980 per share from N2,200 which was the opening figure before the commencement of the day’s trading.

Further checks revealed that Airtel Africa closed the trading at N7.441 trillion in market capitalisation on the Nigerian Exchange (NGX) as against N8.267 trillion when the day’s trading activities began, hence posting a loss of N826 billion or 10%.

Read more from the original article on here at nairametrics.com.


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