{"id":10419,"date":"2026-09-23T10:11:24","date_gmt":"2026-09-23T10:11:24","guid":{"rendered":"https:\/\/ograsset.com\/?p=10419"},"modified":"2026-09-23T10:11:25","modified_gmt":"2026-09-23T10:11:25","slug":"mtn-legend-internet-decline-as-omatek-extends-gains","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/09\/23\/mtn-legend-internet-decline-as-omatek-extends-gains\/","title":{"rendered":"MTN, Legend Internet decline as Omatek extends gains"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"652\" src=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-109.png\" alt=\"\" class=\"wp-image-10420\" srcset=\"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-109.png 975w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-109-300x201.png 300w, https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-109-768x514.png 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Nigeria\u2019s 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>MTN declines after recent rally<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">MTN Nigeria Communications Plc fell 4.49% on Tuesday to close at N850, down from N890 at the previous session.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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tuesday\u2019s 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MTN\u2019s latest close leaves it below its 52-week high of N915, while remaining significantly above its 52-week low of N414.10.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Legend Internet falls to 52-week low<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Legend Internet Plc recorded the sharpest percentage decline among the stocks tracked, falling 5.56% to N3.40 from N3.60.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trading volume stood at 1.79 million shares, valued at N6.18 million.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Omatek extends recent gains<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Omatek Ventures Plc moved higher for a second consecutive session, gaining 2.27% to N1.35 from N1.32.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The stock traded between N1.32 and N1.35, with 2.08 million shares worth N2.77 million changing hands.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019s N1.20 level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the recent gains, Omatek remains below its 52-week high of N3.50.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Airtel Africa, CWG hold steady<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Airtel Africa Plc remained unchanged at N6,300, holding the same price recorded on Monday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CWG Plc similarly held at N18.15, with 1.26 million shares changing hands in transactions valued at N23.17 million.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Other technology stocks<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What you should know<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/nairametrics.com\/2026\/09\/21\/best-performing-nigerian-stocks-for-the-week-ended-september-18-2026\/\"><strong>The ICT industry recorded N21.54 billion in turnover<\/strong><\/a> during the week, ranking third among sectors.<\/li>\n\n\n\n<li><a href=\"https:\/\/nairametrics.com\/2026\/09\/18\/ngx-market-cap-hits-n162-trillion-for-the-first-time-ever\/\"><strong>MTN Nigeria was among the biggest gainers on September 18<\/strong><\/a>, rising 9.20% from N815 to N890. Omatek, meanwhile, fell 12.41% to N1.20 during the week before gaining on Monday and Tuesday.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Legend Internet\u2019s latest results also provide context for its recent performance. <a href=\"https:\/\/nairametrics.com\/2026\/09\/16\/legend-internets-fy2026-profit-falls-91-as-n672-million-asset-gain-masks-operating-loss\/\"><strong>Nairametrics reported that profit for the year ended July 2026 fell 90.73% to N13.21 million,<\/strong><\/a> while revenue declined 7.44% to N1.10 billion. Borrowings rose to N1.14 billion from N75.23 million a year earlier.<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/nairametrics.com\/2026\/09\/23\/mtn-legend-internet-decline-as-omatek-extends-gains\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s 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&#8230;. <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/ograsset.com\/index.php\/2026\/09\/23\/mtn-legend-internet-decline-as-omatek-extends-gains\/\" class=\"excerpt-read-more\">Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":10420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-10419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/09\/image-109.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=10419"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10419\/revisions"}],"predecessor-version":[{"id":10422,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/10419\/revisions\/10422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/10420"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=10419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=10419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=10419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}