Nigerian Breweries Plc, the most capitalized brewery quoted on the exchange, witnessed depreciation in share price by 514 basis points to close at N48.00 per share, taking the market capitalization from N404.64 billion to N383.85 billion.
The brewery today, recorded a loss in share price which can be attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company, inducing a loss of N20.79 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the brewery declined from N50.60 per share at the start of the trading day to N48.00 per share, the lowest price traded at the close of the market, representing a decline of 5.14% which in monetary terms is N2.60.
Stock performance summary
The sell-offs witnessed in the shares of Nigerian Breweries negatively impacted the company’s market capitalization from N404.64 billion to N383.85 billion at the end of today’s trading activities, a loss of N20.79 billion.
The shares of Nigerian Breweries Plc have declined by 14.29% from year-to-date, starting the year at N56.00 and currently traded at N48.00. However, the shares of the company have returned about 3.23% gains for investors who bought them at their 52-week low trading price of N46.50 per share.
During today’s trading hours, 8,576,123 ordinary shares of NB Plc worth about N411.22 million, were exchanged in 118 executed deals.
In comparison, the shares of Guinness Plc, and Champion Breweries Plc closed flat at N36.50 and N2.71, respectively. However, International Breweries Plc declined by 1.90% to close at N5.15 at the end of today’s trading session.
What you should know
At the end of today’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.32% from the previous trading day, to close at 43,108.77 index points and N22.49 trillion respectively.
