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Profit-taking in NNFM Plc shares weigh down market cap by N151.47 million

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Profit-taking in NNFM Plc shares weigh down market cap by N151.47 million

At the end of today’s trading session, Northern Nigerian Flour Mills Plc share price declined by 9.94% to close at N7.70 per share, taking the market capitalization from N1.52 billion to N1.37 billion.

NNFM Plc recorded a decline of 9.94% which can be attributed to investors’ negative sentiment in the shares of the company which induced a loss of N151.47 million in market capitalization at the close of trading activities on the Nigerian Stock Exchange.

The shares of the consumer goods depreciated from N8.55 per share at the start of trading day, to N7.70 per share, the lowest traded price at the close of the market, to represent a decrease of 9.94% which in monetary terms is N0.85.

Stock performance summary

The sell-offs witnessed in the shares of NNFM Plc negatively influenced the company’s market capitalization from N1.52 billion, the previous trading day, to N1.37 billion at the end of the day’s trading activities, taking the depreciation to N151.47 billion.

The shares of NNFM Plc have advanced by 14.24% from year-to-date, starting the year at N6.74 and currently traded at N7.70. However, the shares of the company have returned about 83.77% gains for investors who bought them at their 52-week low trading price of N4.19 per share. During today’s trading hours, 242,220 ordinary shares of NNFM Plc worth about N1.87 million, were exchanged in 22 executed deals.

In comparison, the shares of Honeywell Plc advanced by 1.60% from N3.76 to close at N3.82 at the end of trading session while Flourmills Plc remained unchanged to close at N29.90

What you should know

At the end of daily trading activities, the NGX All-Share Index and Market capitalization appreciated by 0.05% from the previous trading day, to close at 40,243.05 index points and N20.97 trillion respectively.

The NGX Consumer Goods Index, however, advanced by 0.05% to close the day at 567.47 from 567.17 index points.

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