At the end of today’s trading session, Nestle Nig Plc recorded a loss of 9.09% which can be attributed to sell-offs in the shares of the company, inducing a loss of N110 billion in market capitalization at the close of trading activities on Nigeria’s stock market.
The shares of the FMCG declined from N1,540.00 per share at the start of the trading day, to N1,400.00 per share, the lowest price traded at the close of the market, to represent a decrease of 9.09% which in monetary terms is N140.00.
The sell-offs witnessed in the shares of Nestle Plc negatively influenced the company’s market capitalization from N1.22 trillion to N1.11 trillion at the end of today’s trading activities, taking the depreciation to N110 billion.
The shares of Nestle Plc have declined 6.98% from year-to-date, starting the year at N1,505.00 and currently trading at N1,400.00. However, the shares of the company have returned about 19.15% gains for investors who bought them at their 52-week low trading price of N1,175.00 per share.
During today’s trading hours, 1,553,749 ordinary shares of Nestle Plc shares worth about N2.17 billion, were exchanged in 159 executed deals.
In comparison, the shares of Cadbury Plc and PZ Plc remained unchanged to close at N8.95 and N6.00 per share, respectively. While the shares of Unilever Plc declined by 3.54% to close at N15.00 at the end of the trading session.
What you should know
At the end of trading activities, the NGX All-Share Index and Market capitalization appreciated by 0.11% from the previous trading day, to close at 39,550.36 index points and N20.61 trillion respectively.
The NGX Consumer Goods Index depreciated by 4.61% to close the day at 569.23 from 596.71 index points.
SOURCE: https://nairametrics.com/2021/08/17/sell-off-in-nestle-shares-leads-to-n110-billion-market-value-loss-in-a-day/
