Livestock Feeds Plc extended its remarkable rally on the Nigerian Exchange Limited (NGX), gaining another 6.92 percent to close at N15.45 per share as heavy trading activity accompanied the sustained price appreciation.
The stock rose by N1 from its previous closing price of N14.45, extending a run that has lifted Livestock Feeds by almost 74 percent from N8.90 in a little over a week.
Livestock Feeds began last week at N8.90 and closed the week at N13.15 after surging 47.75 percent, making it the biggest NGX gainer for the week ended October 9.
The rally continued in the next session when the stock jumped another 9.89 percent from N13.15 to N14.45.
It subsequently advanced another 6.92 percent to N15.45 in the latest session.
From N8.90 to N15.45, Livestock Feeds has now gained N6.55 per share, or approximately 73.6 percent over the period.
The latest advance was accompanied by substantial trading activity, strengthening the significance of the price movement.
Investors exchanged 48.03 million Livestock Feeds shares worth N757.53 million, making the company the second-most actively traded equity by volume during the session.
Only Access Holdings recorded a higher volume with 57.02 million shares changing hands.
Livestock Feeds alone accounted for approximately 12.2 percent of the 394.20 million shares traded across the entire equities market during the session.
The stock’s performance also stood out against the direction of the broader market.
The NGX All-Share Index declined 0.09 percent to 247,513.63 points, extending the market’s recent losses, while equity market capitalisation fell to N160.708 trillion.
E-Tranzact led the gainers with a 9.96 percent increase to N14.35, followed by Wapic Insurance at 7.83 percent and DAAR Communications at 7.25 percent.
Livestock Feeds followed with its 6.92 percent advance, continuing a rally that has persisted despite weakness in the broader equities market.
The combination of sustained price appreciation and heavy turnover has now made Livestock Feeds one of the market’s most closely watched recent movers.
After climbing 47.75 percent last week, 9.89 percent in the following session and another 6.92 percent in the latest trading session, the stock has risen approximately 73.6 percent from N8.90 to N15.45.
