🔴 MTN Nigeria is trading 4.73% down today as investors took profits after recent rally

MTN Nigeria is trading 4.73% down at NGN 805.00 after investors took profits following its recent rally.

• Market reports identified MTN Nigeria as the largest drag on the Nigerian Exchange during the sell-off, alongside other telecom and consumer stocks.
• The broader NGX market declined as investors reduced positions in large- and medium-capitalisation shares.
• The decline was not linked to a newly reported company-specific negative event.