Presco Plc gains N9.5bn in market value in one day, closes at N104.50 per share

At the end of today’s trading session, Presco Plc’s share price appreciated by 10.00% to close at N104.50 per share, taking the market capitalization from N95.00 billion to N104.50 billion.

Presco Plc recorded a gain in share price which can be attributed to investors’ positive sentiment which triggered buy-interests in the shares of the company supporting a gain of N9.50 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted FMCG company appreciated from N95.00 per share at the start of the trading day to N104.50 per share, the highest price traded at the close of the market, to represent a gain of 10.00% which in monetary terms is N9.50.

The rally witnessed in the shares of Presco positively influenced the company’s market capitalisation from N95.00 billion to N104.50 billion at the end of today’s trading activities, taking the gains to N9.50 billion.

The shares of Presco Plc have gained 19.02% from year-to-date, starting the year at N87.80 and currently traded at N104.50. The company’s shares are currently N0.50 below its 52-week high of N105.00 per share. However, the shares of the company have returned about 51.45% gains for investors who bought them at their 52-week low trading price of N69.00 per share.

During Tuesday’s trading hours, 2,725,954 ordinary shares of Presco Plc worth about N277.80 million, were exchanged in 130 executed deals.

In comparison, the shares of Okomu Plc closed flat at N127.80 at the end of the day’s trading session.