Guinness Plc loses over N21bn in market value, as share price declines to N88.2
At the end of yesterday’s trading session, Guinness Nigeria Plc’s share price depreciated by 10.00 per cent to close at N88.20 per share, taking the market capitalisation to N193.19 billion.
The decline in share prices which was recorded by the FMCGs company can be attributed to investors’ negative sentiment which triggered sell-offs plunging the company’s value down by 1000 basis points.
Hence, the sell-pressures in the shares of the company resulted in a loss of N21.47 billion in market capitalisation at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted brewery decreased from N98.00 per share at the start of the trading day to N88.20 per share, the lowest price traded at the close of the market, to represent a decline of 10.00per cent which in monetary terms is N9.80.
The profit-taking witnessed in the shares of Guinness Nigeria Plc negatively influenced the company’s market capitalisation from N214.66 billion to N193.19 billion at the end of the day’s trading activities, taking the loss to N21.47 billion.
The shares of the company have gained 126.15 per cent from year-to-date, starting the year at N39.00 and currently traded at N88.20.
The company’s shares are currently trading 19.82 per cent lower than its 52-week high at N110.00. However, the shares of the company have returned about 204.14 per cent gains for investors who bought them at their 52-week low trading price of N29.00 per share. During the day’s trading hours, 385,413 ordinary shares of Guinness Nigeria Plc worth about N34.37 million, were exchanged in 48 executed deals. In comparison, the shares of International Breweries Plc and Champion Breweries Plc declined by 2.44per cent and 2.56per cent, respectively, to close at N8.00 and N3.80. While Nigerian Breweries Plc remained unchanged to close at N77.00
At the end of the day’s trading activities, the NGX All-Share Index and market capitalisation depreciated by 1.82 per cent from the previous trading day, to close at 51,949.64 index points and N28.01 trillion respectively.
