At the end of yesterday’s trading session, Airtel Africa Plc share price took a reverse from its 52-week high to depreciate by 1.65% to close at N1250.00 per share, taking the market capitalization from N4.77 trillion to N4.70 trillion.
The telecommunication company recorded a loss in share prices which can be attributed to investors’ negative sentiment triggering sell-offs in the shares of the company supporting a loss of N78.92 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted company depreciated from N1271.00 per share at the start of the trading to N1250 per share, the lowest price traded at the close of the market, to represent a decline of 1.65% which in monetary terms is N21.00.
Stock performance summary
The profit-taking witnessed in the shares of Airtel Africa Plc negatively influenced the company’s market capitalization from N4.77 trillion to N4.70 billion at the end of the day’s trading activities, taking the loss to N78.92 billion.
The shares of Airtel Africa Plc have gained 30.89% from year-to-date, starting the year at N955.00 and currently traded at N1250.00. The company’s shares are currently N21.00 below its 52-week high of N1271.00 per share.
However, the shares of the company have returned about 107.99% gains for investors who bought them at their 52-week low trading price of N601.00 per share.
During the day’s trading hours, 515,996 ordinary shares of Airtel Africa Plc worth about N647.04 million, were exchanged in 77 executed deals.
In comparison, the shares of MTNN Plc appreciated by 0.25% to close at N198.50 at the end of yesterday’s trading session.
What you should know
- Airtel Africa Plc released its 2021 9-month Unaudited Financial Statement revealing a 22.5% growth in revenue from $2.85 billion in 2020 to $3.49 billion in the current period.
- Net profit for the nine-month period appreciated significantly by 97.3% from $261 million in 2020 to $514 million.
- At the end of yesterday’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.29% from the previous trading day, to close at 47,063.28 index points and N25.36 trillion respectively.
