Champion Breweries Stocks Record 49.52% Spike in Value

By Dipo Olowookere

Champion Breweries stocks appreciated by 49.52 per cent week-on-week on the floor of the Nigerian Exchange (NGX) Limited as it closed the week as the best performer at N3.14.

The company’s equities recorded a significant increase in demand as well as FBN Holdings, which witnessed growth in value by 29.59 per cent to trade at N12.70.

Royal Exchange grew by 12.28 per cent to 64 kobo, while Transcorp Hotels gained 9.94 per cent to sell for N5.97, with International Breweries rising by 9.89 per cent to N5.00.

When trading on the exchange closed for the week last Friday, a total of 45 shares were on the gainers’ chart, higher than the 42 on the same table the previous week.

In the week, 15 equities depreciated in price, lower than 26 equities in

the previous week, with Learn Africa on top of the log after its equity price went down by 18.71 per cent to N1.26.

Ikeja Hotel fell by 7.89 per cent to N1.05, ABC Transport dropped 5.88 per cent to 32 kobo, University Press declined by 5.06 per cent to N1.50, while Chams depleted by 4.35 per cent to 22 kobo.

Business Post reports that the All-Share Index (ASI) and market capitalisation appreciated last week by 1.39 per cent and 1.54 per cent to 41,438.15 points and N21.625 trillion respectively, while all other indices finished higher with the exception of the ASeM index which closed flat.

Data showed that the turnover for the week stood at 2.8 billion shares worth N31.7 billion traded in 23,355 deals in contrast to the preceding week’s 2.2 billion shares worth N22.0 billion transacted in 22,438 deals.

A breakdown showed that financial stocks accounted for 2.4 billion units valued at N26.4 billion traded in 13,884 deals, contributing 85.56 per cent and 83.54 per cent to the total trading volume and value respectively.

Furthermore, consumer goods equities accounted for 170.4 million units worth N1.7 billion in 3,350 deals, while conglomerates shares recorded a turnover of 69.0 million shares worth N133.4 million in 625 deals.

The three most traded stocks in the week were FBN Holdings, GTCO and Ecobank, accounting for 1.8 billion units worth N23.4 billion in 5,981 deals, contributing 64.61 per cent and 73.84 per cent to the total trading volume and value respectively.