Profit-taking in Honeywell Flour shares weigh down market value by N1.11 billion

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Honeywell gains 10% in today’s trading session, as investors scamper for shares of the company, HONYFLOUR, WEMABANK lead gainers, as ASI gains N22 billion

At the end of today’s trading session, Honeywell Flour Plc share price declined by 3.78% to close at N3.56 per share, taking the market capitalization from N29.34 billion to N28.23 billion.

Honeywell Plc recorded a decline in share prices which can be attributed to investors’ negative sentiment in the shares of the company which induced a loss of N1.11 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.

The shares of the consumer goods depreciated from N3.70 per share at the start of trading day, to N3.56 per share, the lowest traded price at the close of the market, to represent a decrease of 3.78% which in monetary terms is N0.14.

Stock performance summary

The sell-offs witnessed in the shares of Honeywell Plc negatively influenced the company’s market capitalization from N29.34 billion, the previous trading day, to N28.23 billion at the end of the day’s trading activities, taking the depreciation to N1.11 billion.

The shares of Honeywell Plc have advanced by 196.67% from year-to-date, starting the year at N1.20 and currently traded at N3.56. However, the shares of the company have returned about 295.56% gains for investors who bought them at their 52-week low trading price of N0.90 per share.

During today’s trading hours, 4,280,930 ordinary shares of Honeywell Plc worth about N15.32 million, were exchanged in 166 executed deals.

In comparison, the shares of Flourmills Plc advanced by 0.34% from N29.20 to close at N29.30 at the end of trading session while NNFM Plc remained unchanged to close at N8.20

What you should know

At the end of daily trading activities, the NGX All-Share Index and Market capitalization appreciated by 0.10% from the previous trading day, to close at 40,868.36 index points and N21.30 trillion respectively.

The NGX Consumer Goods Index, however, declined by 0.03% to close the day at 564.30 from 564.47 index points.

Source: NairaMetrics

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