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Nigeria’s listed technology and telecommunications stocks posted mixed performances on Tuesday with come major stocks coming under pressure, while others held steady or extended recent gains.
The performance came a day after the Nigerian Exchange (NGX) All-Share Index crossed the 250,000-point mark for the first time, gaining 0.14% to close at 250,156.80 points on Monday.
Checks by Nairametrics showed that MTN Nigeria and Legend Internet recorded the biggest declines among the stocks tracked, while Omatek Ventures continued its recent rebound.
MTN declines after recent rally
MTN Nigeria Communications Plc fell 4.49% on Tuesday to close at N850, down from N890 at the previous session.
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The stock opened at N890 before trading as low as N850 and as high as N861.10. A total of 4.67 million MTN shares changed hands, with the transactions valued at N4.02 billion.
Tuesday’s decline followed a strong move last Friday, when MTN gained 9.20% from N815 to N890. The stock then held at N890 on Monday before giving up part of that gain on Tuesday.
MTN’s latest close leaves it below its 52-week high of N915, while remaining significantly above its 52-week low of N414.10.
Legend Internet falls to 52-week low
Legend Internet Plc recorded the sharpest percentage decline among the stocks tracked, falling 5.56% to N3.40 from N3.60.
The stock opened at N3.60 and traded between N3.50 and N3.40 before closing at N3.40. The latest price also matches its 52-week low.
Trading volume stood at 1.79 million shares, valued at N6.18 million.
Omatek extends recent gains
Omatek Ventures Plc moved higher for a second consecutive session, gaining 2.27% to N1.35 from N1.32.
The stock traded between N1.32 and N1.35, with 2.08 million shares worth N2.77 million changing hands.
The latest gain followed a 10% increase on Monday, when Omatek rose from N1.20 to N1.32. Its N1.35 close on Tuesday therefore represents a 12.5% increase from Friday’s N1.20 level.
Despite the recent gains, Omatek remains below its 52-week high of N3.50.
Airtel Africa, CWG hold steady
Airtel Africa Plc remained unchanged at N6,300, holding the same price recorded on Monday.
The stock recorded 17,237 shares in volume, with trading valued at N105.34 million. Its N6,300 close also matched its 52-week high.
CWG Plc similarly held at N18.15, with 1.26 million shares changing hands in transactions valued at N23.17 million.
Other technology stocks
eTranzact International Plc declined 0.79% to N12.60 from N12.70, with 1.51 million shares traded at a value of N19.75 million.
NCR Nigeria Plc was unchanged at N161.20. Trading in the stock was relatively light, with 1,109 shares worth N162,477.70 changing hands.
What you should know
The mixed performance comes after a strong week for Nigerian equities. The NGX All-Share Index gained 2.78% in the week ended September 18, while market capitalisation rose 2.90% to a record N162.16 trillion.
- The ICT industry recorded N21.54 billion in turnover during the week, ranking third among sectors.
- MTN Nigeria was among the biggest gainers on September 18, rising 9.20% from N815 to N890. Omatek, meanwhile, fell 12.41% to N1.20 during the week before gaining on Monday and Tuesday.
Legend Internet’s latest results also provide context for its recent performance. Nairametrics reported that profit for the year ended July 2026 fell 90.73% to N13.21 million, while revenue declined 7.44% to N1.10 billion. Borrowings rose to N1.14 billion from N75.23 million a year earlier.
