Nigerian Breweries Plc loses N12 billion in value in one day
Written by Broadstreet Editor on November 20, 2021
Nigerian Breweries Plc, the most capitalized brewery quoted on the exchange, witnessed a depreciation in share price by 286 basis points to close at N51.00 per share, taking the market capitalization from N419.84 billion to N407.84 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 N12.00 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange market.
The shares of the brewery declined from N52.50 per share at the start of the trading day to N51.00 per share, the lowest price traded at the close of the market, to represent a decline of 2.86% which in monetary terms is N1.50.
Stock performance summary
The sell-offs witnessed in the shares of Nigerian Breweries negatively impacted the company’s market capitalization from N419.84 billion to N407.84 billion at the end of today’s trading activities, taking the loss to N12.00 billion.
The shares of Nigerian Breweries Plc have declined by 8.93% from year-to-date, starting the year at N56.00 and currently traded at N51.00. However, the shares of the company have returned about 9.68% gains for investors who bought them at their 52-week low trading price of N46.50 per share.
During today’s trading hours, 7,629,901 ordinary shares of NB Plc worth about N390.55 million, were exchanged in 26 executed deals.
In comparison, the shares of Guinness Plc, International Breweries Plc and Champion Breweries Plc closed flat at N36.50, N5.50 and N2.61, respectively, 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 0.20% from the previous trading day, to close at 43,199.27 index points and N22.54 trillion respectively.