At the end of yesterday’s trading session at Nigeria’s stock exchange, Honeywell Flour Mills Plc recorded a loss of 8.00% amounting to N1.03 billion in market capitalization which can be attributed to sell-offs in the shares of the company.
The shares declined from N1.67 per share at the start of the trading day, to N1.54 per share, N0.02 higher than the lowest price traded at the close of the market yesterday.
The sell-offs witnessed in the company shares negatively influenced the company’s market capitalization from N13.24 billion to N12.21 billion at the end of trading activities, taking the depreciation to N1.03 billion.
READ: CBN issues ultimatum to First Bank of Nigeria on divesting its interest in Honeywell Flour Mills
The shares of Honeywell Flour Mills Plc have gained 28.33% from year-to-date, starting the year at N1.20 and currently trading at N1.54. The FMCG company’s shares are currently trading 12.50% lower than their 52-week high of N1.76 per share. The shares of the company have returned about 75% gains for investors who bought them at their 52-week low trading price of N0.88 per share.
READ: How Honeywell intends to paydown its First Bank loans
During yesterday’s trading hours, 13,037,061 ordinary shares of Honeywell Flourmills Plc worth about N19.97 million, were exchanged in 136 executed deals.
In comparison, the shares of Flour Mills of Nigeria Plc and Northern Nigeria Flour Mills Plc closed flat at N30.00 and N6.15 at the end of yesterday’s trading session.
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What you should know
At the end of yesterday’s trading activities, the NGX All-Share Index and Market Capitalization appreciated by 0.81% from the previous trading day, to close at 38,917.99 index points and N20.28 trillion respectively.
The NGX Consumer Goods Index depreciated by 0.26% to close the day at 593.53 from 595.08 index points.
