Nestle Nigeria Plc has recorded a loss in share prices attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company and a loss of N7.93 billion in market capitalisation at the close of trading activities on Nigeria’s stock exchange.
The shares of the FMCG company declined from N1400.00 per share at the start of the trading day to N1390.00 per share, the lowest price traded at the close of the market, to represent a decline of 0.71 per cent which in monetary terms is N10.
Analysis of the trading showed that the sell-offs witnessed in the shares of Nestle negatively influenced the company’s market capitalization from N1.11 trillion to N1.10 trillion at the end of the trading activities.
However, the shares of the company have returned about 2.96 per cent gains for investors who bought them at their 52-week low trading price of N1350.00 per share.
During today’s trading hours, 4,503,230 ordinary shares of Nestle Plc worth about N5.64 billion, were exchanged in 55 executed deals.
In comparison, the shares of Unilever Plc closed flat at N142.00 at the end of today’s trading session. While shares of PZ Plc declined by 0.82 per cent to close at N6.05.
At the end of the trading activities, the NGX All-Share Index and market capitalization appreciated by 0.49 per cent from the previous trading day, to close at 43,444.20 index points and N22.67 trillion respectively.
The NGX Consumer Goods Index depreciated by 0.38 per cent to close the day at 567.01 from 569.18 index points.