At the end of yesterday’s trading session, Flour Mill Nigeria Plc share price depreciated by 1.61% to close at N30.55 per share, taking the market capitalization to N125.27 billion.
The decline in share price which was recorded by the FMCG company can be attributed to investors’ negative sentiment which triggered sell-offs weighing down the company’s value by 161 basis points.
Hence, the sell-offs in the shares of the company resulted in a loss of N2.05 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted company decreased from N31.05 per share at the start of the trading day to N30.55 per share, the lowest price traded at the close of the market, to represent a decline of 1.61% which in monetary terms is N0.50.
The profit-taking witnessed in the shares of Flourmill Nig Plc negatively influenced the company’s market capitalization from N127.32 billion to N125.27 billion at the end of the day’s trading activities, taking the loss to N2.05 billion.
The shares of the company have gained 7.76% from year-to-date, starting the year at N28.35 and currently traded at N30.55. The company’s shares are currently trading 13.58% lower than their 52-week high at N35.35.
However, the shares of the company have returned about 11.09% gains for investors who bought them at their 52-week low trading price of N27.50 per share.
During the day’s trading hours, 195,265 ordinary shares of Flourmills Nigeria Plc worth about N6 million, were exchanged in 29 executed deals.
At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 0.19% from the previous trading day, to close at 46,777.37 index points and N25.22 trillion respectively.