Nigerian Breweries lost N40 billion in Market Value in a day.
Newsonline reports that at the end of Thursday’s trading session, Nigerian Breweries Plc recorded a loss of 8.77% which can be attributed to sell-offs in the shares of the company, inducing a loss of N40 billion in market capitalization at the close of trading activities on Nigeria’s Stock Exchange.
The shares of the brewery declined from N57.00 per share at the start of the trading day, to N52.00 per share, the lowest price traded at the close of the market, to represent a decrease of 8.77% which in monetary terms is N5.00.
The sell-offs witnessed in the shares of Nigerian Breweries Plc negatively influenced the company’s market capitalization from N455.82 billion to N415.84 billion at the end of the day’s trading activities, taking the depreciation to N40.00 billion.
The shares of Nigerian Breweries Plc have declined 7.14% from year-to-date, starting the year at N56.00 per share and currently traded at N52.00. However, the shares of the company have returned about 48.57% gains for investors who bought them at their 52-week low trading price of N35.00 per share.
During Thursday’s trading hours, 411,025 ordinary shares of Nigerian Breweries Plc worth about N21.37 million, were exchanged in 105 executed deals.
In comparison, the shares of Guinness Plc, International Breweries Plc, and Champion Breweries Plc remained unchanged to close at N31.80, N5.00, and N2.10 per share, respectively, at the end of the trading session.
What you should know
At the end of today’s market session, the NGX All-Share Index and Market Capitalization appreciated by 0.32% from the previous trading day, to close at 39,670.29 index points and N20.67 trillion respectively.
The NGX Consumer Goods Index depreciated by 1.68% to close the day at 560.38 from 569.93 index points.
