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Alcoholic beverage makers on NSE lose a total N27.7 billion in a single day

Omokolade AjayibyOmokolade Ajayi
2 years ago
in Markets, Stock Market
stock market
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Stocks of brewers in the Nigerian Equity space lost a total of N27.7 billion in today’s trading session as investors continue to cycle their funds out of the stock market in search of yields in the fixed income space.

Data tracked on the Nigerian Stock Exchange website at the close of trading activities today revealed that the shares of three brewing companies – out of five – declined on the local bourse today.

With shares in Guinness Nigeria Plc, Nigerian Breweries Plc, and International Breweries Plc declining by 2.13%, 5.34%, and 3.77% to close lower at N23, N47, N5.1 respectively, while Champion Breweries and Golden Guinea shares closed flat at N2.44.and 0.81.

The recent decline in the shares of companies listed on NSE can be attributed to the recent move by investors, as they continue to offload stakes in key companies, with a focus on fixed income securities in anticipation that the CBN will continue to raise interest rates on treasury bills and OMO bills.

In line with this, the review of the performance of GUINNESS, NIGERIAN BREWERIES and INTERNATIONAL BREWERIES on the Nigerian Stock Exchange today, the 15th of March 2021, revealed the total market capitalization of these companies declined by a whopping N27.7 billion.

Their performance on the exchange

  • By the close of trading activities on the exchange today, the market cap of Nigerian Breweries declined from N397.05 billion to N375.85 billion, followed closely by International Breweries, with the market capitalization of the brewer declining from N142.37 billion to N137 billion.
  • While the market capitalization of Guinness Nigeria declined from N51.47 billion to N50.38 billion.
  • When added up, these brewery companies have lost N27.66 billion in market capitalization in a day.

The Consumer good index to which the brewers belong has fallen by 4.26% month to date as of 12th March 2021, compared to the Nigerian Stock Exchange All Share Index -2.89%.

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Tags: Alcoholic BeverageGuinness Nigeria PlcInternational Breweries PlcNigerian Breweries PlcNSE

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