Nestle Loses N7.93 Billion In Market Value As Share Price Drops By N10

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At the end of today’s trading session, Nestle Plc share price depreciated by 0.71% to close at N1390.00 per share, taking the market capitalization from N1.11 trillion to N1.10 trillion.

Nestle 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 inducing a loss of N7.93 billion in market capitalization 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% which in monetary terms is N10.

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 today’s trading activities, taking the loss to N7.93 billion.

The shares of Nestle Plc have declined by 7.64% from year-to-date, starting the year at N1505.00 and currently traded at N1390.00. However, the shares of the company have returned about 2.96% 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% to close at N6.05.

At the end of today’s trading activities, the NGX All-Share Index and market capitalization appreciated by 0.49% 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% to close the day at 567.01 from 569.18 index points.

– Nairametrics

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