Presco Plc loses N1.10bn in market value in one day

At the end of today’s trading session, Presco Plc share price depreciated by 1.24% to close at N87.80 per share, taking the market capitalization from N88.90 billion to N87.80 billion.

Presco Plc, today recorded a loss in share prices which can be attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company supporting a loss of N1.10 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted FMCG company declined from N88.90 per share at the start of the trading day to N87.80 per share, the lowest price traded at the close of the market, to represent a loss of 1.24% which in monetary terms is N1.10.

The sell pressure witnessed in the shares of Presco negatively influenced the company’s market capitalization from N88.90 billion to N87.80 billion at the end of today’s trading activities, taking the loss to N1.10 billion.

The shares of Presco Plc have gained 23.75% from year-to-date, starting the year at N70.95 and currently trading at N87.8. The company’s shares are currently trading N1.20 lower than its 52-week high of N89.00 per share.

However, the shares of the company have returned about 27.25% gains for investors who bought them at their 52-week low trading price of N69.00 per share.

During today’s trading hours, 487,800 ordinary shares of Presco Plc worth about N41.47 million, were exchanged in 56 executed deals.

In comparison, the shares of Okomu Oil Plc closed flat at N142.00 at the end of today’s trading session.

At the end of today’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.09% from the previous trading day, to close at 43,270.94 index points and N22.58 trillion respectively.

The NGX Consumer Goods Index depreciated by 0.23% to close the day at 548.33 from 549.62 index points.