Nigerian Breweries Shares Record 25.12% Rise in One Week

Nigerian Breweries shares

By Dipo Olowookere

Shares of Nigerian Breweries Plc appreciated by 25.12 per cent or N10.55 last week on the floor of the Nigerian Stock Exchange (NSE) to settle at N52.55 per unit, leading the gainers’ chart.

The growth may have been influenced by the renewed interest in the company’s stocks as a result of the gradual reopening of restaurants, where products of the brewery giant are consumed.

Before the reopening of businesses, shares of the firm dropped to the N20 region at the stock exchange, but since the ease in the lockdown, the company’s equities have been witnessing growth again.

During the week, Cornerstone Insurance gained 16.39 per cent to close at 71 kobo per unit, Lafarge Africa appreciated by 15.77 per cent to finish at N15.05 per unit, Consolidated Hallmark Insurance grew by 9.68 per cent to stay at 34 kobo per share, while Trans-Nationwide Express rose by 9.33 per cent to trade at 82 kobo per share.

On the losers’ table, AIICO Insurance ended the five-day trading session with a price depreciation of 20.00 per cent to settle at 72 kobo per unit.

Red Star Express lost 16.90 per cent to trade at N3.00 per share, Oando depreciated by 11.74 per cent to sell at N2.03 per share, Northern Nigerian Flour Mills fells by 10.00 per cent to N4.05 per unit, while Champion Breweries declined by 10.00 per cent to quote at 81 kobo per unit.

Business Post reports that at the close of transactions for the week, 35 equities appreciated in price, higher than 32 equities in the previous week, while 28 equities depreciated in price, lower than 31 equities in the previous week, with 100 equities closing flat, same as in the previous week.

A look at the main performance indices showed that the All-Share Index (ASI) and market capitalisation appreciated by 2.92 per cent to close the week at 26,319.34 points and N13.755 trillion respectively, while all other indices finished higher with the exception of ASeM index, which closed flat.

On the activity chart, 1.6 billion shares worth N20.6 billion were traded in 18,396 deals during the week by investors as against the 1.1 billion shares worth N12.7 billion transacted in 17,109 deals a week earlier.

It was observed that stocks in the financial services sector topped the chart after exchanging 1.2 billion units valued at N9.2 billion in 9,900 deals, contributing 75.14 per cent and 44.65 per cent to the total equity turnover volume and value respectively.

Equities in the consumer goods industry followed with 90.0 million units worth N1.7 billion in 2,715 deals, while stocks in the ICT sector traded 84.7 million units valued at N5.8 billion in 771 deals.

Further analysis indicated that Sterling Bank, FBN Holdings and Zenith Bank accounted for 612.8 million shares worth N4.3 billion in 3,739 deals, contributing 39.10 per cent and 20.97 per cent to the total equity turnover volume and value respectively.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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