Presco depreciates by 10%, loses N20 billion in market value

At the end of the day’s trading session, Presco Plc’s share price depreciated by 10.00% to close at N180 per share, taking the market capitalization from N200 billion to N180 billion.

Presco Plc recorded loss in share price, which can be attributed to investors’ negative sentiments, which triggered sell-pressures in the shares of the company, supporting a loss of N20 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.

The shares of the quoted brewery declined from N200 per share at the start of the trading day to N180 per share, the lowest price traded at the close of the market, to represent a loss of 10.00%, which in monetary terms is N20.00

Stock performance summary 

The profit-taking witnessed in the shares of Presco Plc negatively influenced the company’s market capitalization from N200 billion to N180 billion at the end of the day’s trading activities, taking the loss to N20 billion.

  • The shares of the FMCG have gained 105.01% from year-to-date, starting the year at N87.80 and currently traded at N180. However, the company’s shares have returned about 157.14% gains for investors who bought them at their 52-week low trading price of N70.00 per share.
  • During the day’s trading hours, 6,584,271 ordinary shares of Presco Plc, worth about N1.19 billion, were exchanged in 113 executed deals.
  • In comparison, the shares of Okomu Oil Plc remained unchanged to close at N215.00.

What you should know 

  • At the end of yesterday’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.13% from the previous trading day to close at 52,911.51 index points and N28.53 trillion, respectively.
  • The NGX Consumer Goods Index appreciated by 0.05% to close the day at 691.83 from 691.49 index points.

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