Okomu oil reports N14bn gain in market value At the end of yesterday’s trading

Okomu Oil Plc share price appreciated by 10.00 per cent to close at N161.70 per share, taking the market capitalisation to N154.25 billion.

The growth in share prices which was recorded by the FMCG company can be attributed to investors’ positive sentiment which triggered buy-interests supporting the company’s value up by 1000 basis points.

Hence, the rally in the shares of the company resulted in a gain of N14.02 billion in market capitalisation at the close of trading activities on Nigeria’s stock exchange.The shares of the quoted company increased from N147.00 per share at the start of the trading day to N161.70 per share, the highest price traded at the close of the market, to represent a growth of 10.00 per cent which in monetary terms is N14.70.

The buy interests witnessed in the shares of Okomu oil Plc positively influenced the company’s market capitalisation from N 140.22 billion to N154.25 billion at the end of the day’s trading activities, taking the gains to N14.02 billion.

The shares of the company have gained 13.87 per cent year-to-date, starting the year at N142.00 and currently traded at N161.70. The company’s shares are currently trading at their 52-week high at N161.7.00.

However, the shares of the company have returned gains of about 56.99 per cent for investors who bought them at their 52-week low trading price of N103.00 per share.

During the day’s trading hours, 661,287 ordinary shares of Okomu Oil Plc worth about N106.70 million, were exchanged in 51 executed deals.

At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 0.98 per cent from the previous trading day, to close at 50,126.41 index points and N27.02 trillion respectively.