International Breweries share price Increases In Three Days By 8.33%
International Breweries share price Increases In Three Days By 8.33%
Due to the optimistic mood that prevailed over the previous three trading sessions on the NGX, International Breweries Plc’s market capitalization rose by around 8.33%.
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Nairametrics reports that the stock price of the company that produces food increased to N4.55 per share at the end of yesterday’s trading from N4.20 when it first began trading on the 15th of December. A 9.402 billion N rise, or 8.33%, in market capitalization.
Further investigation showed that International Breweries had a market value of N122.222 billion at the end of the trading day, up from N112.820 billion at the beginning of trading on December 15.
Christmas celebrations increased travel across the nation, and an increase in top-line revenue at breweries all contribute to the season’s expected uptick in positive sentiment for the industry as a whole.
In case you missed it, the benchmark index closed 0.16% stronger to close at 49,396.04 points as the equity market began the trading week positive, extending the gains from the previous week.
Positive sentiments on Tier-1 banks, BUA Foods (+2.52%), GTCO (+3.35%), Access Holdings (+1.18%), and UBA (+0.68%) outweighed negative sentiments on Zenith Bank (-0.41%) and FBNH (-0.46%) to keep the market in the green.
As a result, the market capitalization increased by N43.44 billion to close at N26.90 trillion, and the year-to-date (YTD) return increased to 15.64%.
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Further examination of the trading activities for the day revealed lower trade turnover compared to the prior session, with a 36.57% decrease in transaction value.
In a total of 3,174 transactions, 69.14 million shares worth N1.27 billion were exchanged. With 16.61 million units traded in transactions worth N352.21 million, GTCO led the volume and value charts with a gain in the share price of 3.35 percent.
