The market capitalization of International Breweries Plc increased by around 8.33% as a result of the bullish attitude that was present throughout the last three trading sessions on the NGX.
The stock price of the company that produces food increased to N4.55 per share at the end of yesterday’s trading from N4.20 when it first began on the 15th of December. The market capitalization has increased by 8.33%, or N9.402 billion.
Further research revealed that International Breweries ended the trading day with a market value of N122.222 billion, up from N112.820 billion at the start of trade on December 15.
Positive opinion on the subsector is anticipated to last throughout the holiday season due to the presence of Christmas celebrations, increased travel across the nation, and brewery companies reporting an increase in top-line sales.
The equities market opened the trading week positive, extending the gains from last week as the benchmark index closed 0.16% stronger to close at 49,396.04 points.
- Positive sentiments on BUA Foods which led to a gain of +2.52%, alongside Tier-1 banks, GTCO which recorded a gain of+3.35%, Access Holdings (+1.18%) and UBA with a gain of +0.68% overshadowed losses in Zenith Bank with -0.41% and FBNH (-0.46%) to sustain the market in the green territory.
- Consequently, the year-to-date (YTD) return rose to 15.64%, while market capitalization gained N43.44 billion to close at N26.90 trillion.
- Further analysis of the day’s trading activities showed trade turnover finished lower relative to the previous session, with the value of transactions down by 36.57%.
- A total of 69.14 million shares valued at N1.27 billion were exchanged in 3,174 deals. GTCO’s gain of 3.35% in share price led the volume and value charts with 16.61 million units traded in deals worth N352.21 million.
Source: Nairametric
