During the trading week, Honeywell flour Mill gained a total of N3.57 billion in market capitalization from the previous week. This can be attributed to the positive market sentiment witnessed in the stock which saw its price record gains for four consecutive days, from Tuesday, 10th of August to Friday, 13th of August 2021.
At the end of Friday’s trading session, Honeywell Flourmills Plc recorded a gain of 9.63% which can be attributed to buy-interests in the shares of the company which induced a gain of N1.43 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.
After four (4) consecutive positive trading days, Honeywell Flour share price had earlier on Thursday, broken its 52-wk high record of N1.76 to close at N1.87 per share. However, it reached another new high yesterday, breaking its previous day record of N1.87 per share, to close at N2.05 per share.
READ: How Honeywell intends to paydown its First Bank loans
The shares of the mills advanced from N1.87 per share at the start of the trading day, to N2.05 per share, the highest price traded at the close of the market, to represent an increase of 9.63% which in monetary terms is 18 kobo.
The buy-interests witnessed in the shares of Honeywell Flourmills positively influenced the company’s market capitalization from N14.83 billion to N16.26 billion at the end of the day’s trading activities, taking the appreciation to N1.43 billion.
The shares of Honeywell Flourmills Plc have gained 70.83% from year-to-date, starting the year at N1.20 and currently traded at N2.05. The shares have also returned about 132.95% gains for investors who bought them at their 52-week low trading price of N0.88 per share.
READ: Honeywell Flour Mills loses N1.03 billion in market value, down 8%
During Friday’s trading hours, 15,486,569 ordinary shares of Honeywell Flourmills Plc worth about N31.64 million, were exchanged in 259 executed deals.
In comparison, the shares of Flourmills Plc and NNFM Plc grew by 1.84% and 2.72% to close at N30.45 and N7.55, respectively, at the end of Friday’s trading session.
READ: DEAL: Honeywell initiates Commercial Paper to restructure debt profile
What you should know
At the end of Friday’s trading activities, the NGX All-Share Index and Market capitalization appreciated by 0.08% from the previous trading day, to close at 39,522.34 index points and N20.59 trillion respectively.
The NGX Consumer Goods Index appreciated by 0.40% to close the day at 596.60 from 594.23 index points.
