Flour Mill sheds N3bn in market value

At the end of the day’s trading session, Flour Mill  Plc’s market value depreciated by 1.60 per cent to close at N40.75 per share, taking the market capitalization from N169.96 billion to N167.09 billion.

Flour Mill Plc recorded a decline in share price, which can be attributed to investors’ negative sentiments, which triggered sell-pressures in the shares of the company, resulting in a loss of N2.87 billion in market capitalisation at the close of trading activities on the Nigerian Stock Exchange.

The share prices of the quoted miller dropped from N41.45 per share at the start of the trading day to N40.75 per share, the highest price traded at the close of the market, to represent a decline of 1.69per cent, which in monetary terms is N0.70.

The profit-taking witnessed in the shares of Flourmills Plc negatively influenced the company’s market capitalisation from N169.96 billion to N169.09 billion at the end of the day’s trading activities, taking the loss to N2.87 billion.

The company’s shares have gained 43.74 per cent from year-to-date, starting the year at N28.35 and currently traded at N40.75.

However, the company’s shares have returned about 48.18 per cent gains for investors who bought them at their 52-week low trading price of N27.50 per share.

During the day’s trading hours, 2,665,139 ordinary shares of Flourmills Plc, worth about N105.97 million, were exchanged in 192 executed deals.

In comparison, the shares of Honeywell Flourmills Plc and NNFM Plc gained 2.13 per cent and 9.55 per cent to close at N3.83 and N10.90 at the end of today’s trading session.

At the end of yesterday’s trading activities, the NGX All-Share Index and market capitalisation depreciated by 0.29 per cent from the previous trading day to close at 52,944.09 index points and N28.54 trillion, respectively.

The NGX Consumer Goods Index depreciated by 0.62 per cent to close the day at 694.01 from 698.32 index points.