The N7.380 billion gain Flour Mills Nigeria Plc recorded on Tuesday on the Nigerian Stock Exchange (NSE) was lost, as it’s market capitalisation dipped N8. 815 billion, representing 6.94 per cent during trading on the NSE on Wednesday.
Flour Mills had on Tuesday rose by N7. 380 billion as both its market capitalisation and share price surged by 6.16 per cent. While it’s market capitalisation stood at N127. 111 billion, it’s share price traded at N31 per share.
However, the company could not maintain the momentum on the market on Wednesday as its market capitalisation dropped by N8. 815 billion, indicating a 6.94 per cent fall, closing at N118. 295 billion down from N127. 111 billion.
Similarly, the value of its share price also declined by 6.94 per cent, to close at N28.85 per share down from N31 per share. The consumer goods giant’s outstanding shares are put at 4,100,379,605.
Conversely, Oando Plc has continued its four-day rise on the Nigerian Stock Exchange, as it’s share price and market capitalisation climbed again on Wednesday.
The market capitalisation which opened at N38.537 billion closed at N42. 391 billion, registering a N3.853 billion, indicating a 10 per cent leap.
The Oil and Gas firm also posted a positive in its share price, appreciating by 10 per cent to close at N3.41 per share up from N3.10 per share. Its outstanding shares stand at 12,431,412,481.
Check by Inside Business shows that Wednesday’s gain is the fourth consecutive trading session the company is recording upward movement in the value of its market share, albeit marginal.
It traded at N3, N3.07, N3.10 and N3.41 per share on February 19th, 22nd, 23rd and 24th respectively.
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